Meridian Capital Group Announces July Activity
Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed more than $520 million in transaction volume in July 2023. Their recent closings include a $175 million credit facility on behalf of a New York-based home health platform, which was provided by a nine-bank syndicate. Meridian’s Indrajit Pal and Matt Lesnik negotiated this transaction along with Adlerstein and Simpson. Additionally, the team sold nine skilled nursing facilities comprising 718 beds in the Midwest and arranged $66.6 million in financing from a commercial bank along with a $10 million A/R line for the acquisition. The team also arranged a $49 million HUD refinance... Read More »
Ziegler Arranges Large Bond Financing for CCRC Development
Ziegler closed a large bond financing for the development of a large, luxury CCRC in Kiawah Island, South Carolina. The community, to be called Seafields at Kiawah Island, is being developed by BRP (Big Rock Partners) Senior Housing Management, a vertically integrated firm that develops and operates seniors housing communities in Florida and, now, South Carolina. BRP received $212.93 million in bond proceeds to fund the CCRC’s development as well as to refund the outstanding Series 2021 Bond Anticipation Notes. The financing also funded debt service reserves, interest and the costs of issuance. The bonds are fixed rate bonds and will be issued through the South Carolina Jobs-Economic... Read More »
Walker & Dunlop Finances Active Adult Communities
Walker & Dunlop, one of the largest commercial real estate finance and advisory services firms in the United States, announced that it has financed 10 active adult communities totaling $390 million over the last year and over $1 billion in volume in the sector throughout the last five years. GSEs, multiple life companies, banks and debt funds were used as sources for debt capital. The loans were both fixed and floating-rate, dependent upon the property. The capital markets team that handled these transactions was led by Matt Wallach, Stephen West and Walker Layne. Read More »
CFG Releases H1:23 Results
Capital Funding Group (CFG) financed $411.2 million across 27 deals in the first half of 2023. The total included 19 healthcare bridge loans, five multifamily bridge loans (totaling $49.7 million), and three HUD loans for clients across the country. The largest transaction was CFG’s closing of $207 million in financing to support the refinancing of 10 skilled nursing facilities across Maryland, Virginia, and North Carolina. That was followed by $84 million in bridge-to-HUD acquisition financing for the purchase of seven skilled nursing facilities and one assisted living community in Alabama. Other bridge loans included a $34 million loan for the acquisition of three skilled nursing... Read More »
M&T Realty Capital Corp. Announces H1:23 Financing Activity
M&T Realty Capital Corporation (M&T), a wholly-owned subsidiary of M&T Bank, announced that their Seniors Housing Team closed a total of $434.7 million in loans during the first six months of 2023. The loans were for senior living properties, health and rehabilitation centers and retirement communities in the South, Southwest and Northwest of the United States. Despite the issues in the capital markets, M&T financed 18 properties in eight states across the entire acuity spectrum, from standalone independent living to skilled nursing. Properties also varied in size, from as small as 15 units and to as large as 371 units. And there was variety in the types of loans that were... Read More »Schedule a demo
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