Florida SNFs Secure $17.4 Million in HUD Loans
Capital Funding Group announced the closing of two HUD loans totaling $17.4 million, which supported the refinancing of two skilled nursing facilities in Florida. The facilities feature a total of 261 beds. The financing was on behalf of a nationally recognized borrower. Tim Eberhardt and Ava Julio originated the transaction. This financing follows CFG’s recent announcement of the closing of two HUD loans totaling $13.55 million. The loans supported the refinancing of two skilled nursing facilities in Illinois. The facilities comprise a total of 173 beds. The financing was on behalf of a nationally recognized borrower. Read More »
Meridian Reports First Quarter Transaction Volume
The first quarter is in the books, and Meridian Capital Group’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson, closed $575 million in transaction volume in the first three months of the year, following more than $5 billion closed by the platform in 2023. Most recently, the team sold six skilled nursing facilities comprising 517 beds in Indiana for $37.5 million, or $72,500 per bed, and arranged $34.8 million in financing from a finance company along with an $8.5 million A/R line for the acquisition. They also arranged $29.5 million in financing from a commercial bank to refinance a New Jersey property totaling 85 assisted living and 34 memory care... Read More »
SLR Provides Financing for SNF
SLR Healthcare ABL announced that it secured financing for a 160-bed skilled nursing facility. The asset-based revolving line of credit amounted to $4.0 million, and this was the only debt for the borrower, which leases the facility from a related property company that has a mortgage with a bank. The borrower is a Nevada-based operator of skilled nursing, post-operative care and specialized programs including orthopedic rehab, ventilator care and wound management. Proceeds of the loan were used to refinance existing debt and provide working capital to support growth initiatives such as continuing to leverage the facility’s strong respiratory and other specialty programs as... Read More »
CFG Secures $13.55 Million in HUD Loans
Capital Funding Group closed two HUD loans totaling $13.55 million to support the refinancing of two skilled nursing facilities. Both facilities are in Illinois, and together they comprise 173 beds. No other details surrounding the financing were disclosed. This announcement follows CFG’s closing of $16.25 million in bridge-to-HUD financing on behalf of a nationally recognized borrower for the acquisition of two Utah skilled nursing facilities that totaled 220 beds. This acquisition marked the borrower’s entrance into the state. Read More »
CBRE Secures Bridge Financing For Two Communities
CBRE secured bridge financing for two seniors housing communities in western Pennsylvania. Aron Will and Tim Root arranged a non-recourse loan with a sub-300 spread through a regional bank. The borrower was CPF Living Communities. Built in 2017, The Residence at Bethel Park is in Bethel Park with 130 independent living units. The Residence at Whitehall, built in 2018, is in Pittsburgh and comprises 127 independent and assisted living units. Both communities are currently managed by Grace Management, CPF LC’s wholly owned management affiliate. Read More »Schedule a demo
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