Grandbridge Secures Large Agency Refinance
Grandbridge Real Estate Capital’s Seniors Housing and Diversified Healthcare Finance Group arranged $426.8 million in agency financing for a large seniors housing portfolio owned by a publicly traded, healthcare REIT. In its latest earnings report, Ventas also disclosed that it entered into a $427 million 10-year mortgage loan, which (after Ventas completes its contemplated purchase of a 7.5% tranche of the original principal balance of the loan) will result in a $395 million net mortgage loan at an all-in expected weighted average cash rate of 5.5%. The portfolio was secured by 19 seniors housing properties located across 10 states and was financed by an agency lender. The... Read More »
Walker & Dunlop Provides Memory Care Refinancing
Kevin Giusti and Daniel Barone of Walker & Dunlop arranged a $15.2 million loan for the refinancing of a memory care community in Beaverton, Oregon. The community was Waterhouse Ridge Memory Care, which comprises 68 memory care beds in 52 units and over 36,000 square feet. The community specializes in caring for Alzheimer’s and dementia patients and is currently 88% occupied. Loan proceeds were utilized to refinance existing debt and provide cash to the borrower, Onelift Senior Living, which developed, owns and operates the community. After two years, the loan will be refinanced under the HUD’s 232 Program. Read More »
Meridian Ends Summer with $465 Million in Volume
Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed $465 million in transaction volume in August to round out the summer of 2023. The largest deal saw the team arrange acquisition financing from a REIT and finance company for 28 facilities comprising 2,629 skilled nursing beds and 88 assisted living units in Nevada, Washington, Wyoming, Oregon, Montana, and South Dakota. They also closed several additional acquisition loans, including $30 million in financing from a commercial bank for five facilities consisting of 470 skilled nursing beds and 92 assisted living units in Indiana; $6.2 million in financing from a commercial... Read More »
CFG Closes HUD Loan for SNF Refinancing
Capital Funding Group (CFG) closed a $15.49 million HUD loan for the refinance of an existing bridge loan, executed by CFG, on a 118-bed skilled nursing facility in Arizona on behalf of a nationally recognized borrower. The company also refinanced additional debt associated with a facility remodel that the borrower completed prior to submitting to HUD. Tommy Dillon of CFG originated the transaction. This financing follows CFG’s recent closing of a $7.2 million HUD loan for the refinance of an existing bridge loan, also executed by CFG. Read More »
Forbright Bank Finances Senior Care Acquisition
Forbright Bank, a nationwide full-service bank, closed $26.5 million in financing for the acquisition of a Maryland skilled nursing and assisted living campus by a regional operator. The deal marked the seventh successful transaction between Forbright Bank and the borrower. The senior mortgage will finance the acquisition and renovation of the facility, including the addition of a new skilled nursing wing. Forbright also provided a $2.5 million line of credit to support the facility’s working capital needs. When fully stabilized, the bank intends to provide the borrower with a permanent HUD mortgage. The facility features both skilled nursing and assisted living beds and is located in a... Read More »Schedule a demo
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