Dwight Mortgage Trust Provides Acquisition Bridge Loan
Dwight Mortgage Trust, the mortgage REIT affiliate of Dwight Capital, provided a $27.25 million bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare, a 239-bed skilled nursing facility in New Smyrna Beach, Florida. Built in 1967, the facility offers short- and long-term care services. It was previously owned by Atlantic Avenue Facility LLC, an entity affiliated with Fort Lauderdale, Florida-based Millennium Health Systems, but a skilled nursing owner/operator has taken over the facility. The loan comes with a 30-month term and was arranged at 75% loan-to-cost. Its proceeds will be used towards both the acquisition and capital expenditures at the facility.... Read More »CFG Closes Large SNF Bridge Loan
Capital Funding Group announced its recent transaction activity which was highlighted by a $135 million bridge loan arranged for the refinancing and dividend recapitalization of a skilled nursing portfolio. The nine facilities feature 1,448 beds across Maryland, Georgia and West Virginia. CFG’s Tim Eberhardt and Ava Julio originated the transaction for a well-known skilled nursing owner, but further details were not disclosed. CFG also provided a $32.9 million construction loan for the ground-up development of Varenita of Temecula. The 108-bed assisted living/memory care community is located in Temecula, within Riverside County between Los Angeles and San Diego. It was developed by Griffin... Read More »VIUM Capital Wraps Up Q2 with SNF Portfolio Refinance
VIUM Capital is having quite a year and wrapped up its second quarter with 25 closed transactions totaling $1 billion. This brings the lender’s total in the first half of the year to nearly $1.3 billion across 43 loans. The transactions consisted of bridge and permanent debt, financing projects in 15 states. Since being founded in April 2020, VIUM has grown to over 20 employees and earlier this year rolled out its healthcare debt fund in conjunction with an affiliate of joint venture partner, Merchants Capital. The firm finished the quarter with a large refinance of six skilled nursing facilities on behalf of their Midwest-based owner/operator. VIUM secured approximately $130 million in... Read More »60 Seconds with Swett: Q2:22 M&A Activity Nears Record-High
The second quarter M&A numbers are in, preliminarily that is, and buyers nearly set a record for acquisition activity. So far, we have counted 135 publicly announced transactions for the quarter, which is only surpassed by the first quarter’s 139 deals. Continuing at this pace, we are on track to hit 550 deals for the year, which would be a record by about 100. Of course, we shouldn’t count our chickens before they hatch, with higher interest rates or a potential recession looming. June was an especially strong month, with 52 individually announced deals, after 49 in April and a mere 34 in May. But what was notable about June was that skilled nursing M&A activity seemed to pick... Read More »Northwestern Mutual Divests California Community
Northwestern Mutual has divested its 150-unit assisted living community in Brentwood, California with the help of Charles Bissell, Cody Tremper and Dean Ferris of JLL Capital Markets. Named Cortona Park, the community was built in 2007 with studio, one-bedroom and two-bedroom unit options averaging 761 square feet. Pets are welcome at the community, which also features a host of amenities including a library, café/bistro, beauty shop, courtyard and garden, outdoor pool, theater, billiards, fireside living room and a community room with meeting space. John Muir Health Urgent Care is located adjacent to Cortona Park, and two hospitals are within the surrounding area. Northwestern Mutual sold... Read More »Schedule a demo
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