CFG Arranges Refinancing for an Arizona SNF
Capital Funding Group announced the closing of a $10.9 million HUD loan on behalf of a nationally recognized borrower. The loan supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing was secured by a 112-bed skilled nursing facility in Arizona. Tommy Dillon of CFG originated the transaction. This financing follows the company’s recent announcement of $22.4 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities in Georgia secured by 338 beds. Read More »
NY Active Adult Community Changes Hands
CBRE Capital Markets announced the sale and financing of an active adult community in Deer Park, New York. Jeff Dunne and Eric Apfel of the New York Metro Institutional Sales team, along with Aron Will, John Sweeny and Scott Bray of the CBRE Senior Housing team, handled this transaction. CBRE represented the seller, a joint venture between B2K Development, a Long Island-based real estate development group, and Harrison Street, one of the leading investment management firms that has a focus on alternative real assets. The team also procured the buyer, Fairfield Knolls at Deer Park Owner LLC, a real estate investment group based in Melville, NY. There was significant interest in the... Read More »
Meridian Closes $200 Million in Transaction Volume
Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, had an impressive October, closing $200 million in transaction volume. The team recently sold seven skilled nursing facilities totaling 844 beds in Massachusetts for $58.8 million, or $70,000 per bed, and arranged $45 million in financing from a commercial bank for the acquisition and the refinance of an eighth skilled nursing facility in Illinois comprising 53 beds. They also sold a 242-bed skilled nursing facility in Colorado for $28.4 million, or $117,400 per bed. Rounding out their recent activity, the team arranged $28 million from a finance company to refinance two... Read More »
Not-For-Profit CCRC Receives Financing
Ziegler successfully closed a bond financing for Shenandoah Valley Westminster-Canterbury, a Virginia not-for-profit organization that owns and operates a CCRC in Winchester. Set on 87 acres, the 40-year-old campus provides housing, health care, and other services to nearly 400 residents across 217 independent living units (164 apartments and 53 cottages), 48 assisted living units, 12 memory care units and 51 skilled nursing beds. The organization is currently completing an independent living expansion project, the first phase of which was financed by Ziegler in 2022 and will include 48 new IL villa apartments. The second phase of the project that is being financed with the new Series 2023... Read More »
KeyBank Finances New Construction in Cleveland
A new affordable senior apartment community is being built in Cleveland, Ohio, thanks to $11.3 million in 9% tax credit equity provided by KeyBank Community Development Lending and Investment (CDLI). Garrett Square Apartments will include 49 units of affordable seniors housing in the Glenville neighborhood of Cleveland. The financing package comprised a $9 million construction loan and a $2.3 million permanent loan. Additional permanent financing sources include secondary soft loans totaling $1.7 million provided through the City of Cleveland’s American Rescue Plan Act, $900,000 from City Home, and $450,00 from the County ERA fund. The site is currently occupied with a parking lot and... Read More »Schedule a demo
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