Florida AL Community Secures Bridge Financing
Berkadia arranged $14.6 million in bridge financing for an assisted living community in New Port Richey, Florida. Managing Directors Ed Williams and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured financing for a Florida-based sponsor and first-time client through Berkadia’s bridge lending program. The 12-month, interest-only loan was used to retire existing debt and return capital to the sponsor for future development. The community was built in 2020 and reached stabilized occupancy within 12 months of opening. Occupancy has remained at or above 95% since that point. Berkadia is expected to close the subsequent HUD refinance by the end of 2025. Read More »
Not-For-Profit Divests to River Oaks of Minnesota
Nick Glaisner of Ziegler facilitated the sale of an assisted living and memory care community in metro Minneapolis on behalf of a not-for-profit organization that serves elderly and disabled people in the Twin Cities. The community has more than 60 beds. The buyer was local operator River Oaks of Minnesota. River Oaks’ portfolio now comprises four AL communities in the metro area. Read More »
Utah Skilled Nursing Portfolio Secures Financing
Capital Funding Group closed a $93.8 million bridge-to-HUD loan on behalf of a nationally recognized borrower. The deal supported financing for nine skilled nursing facilities comprising 969 beds in Utah. CFG also provided $11 million in accounts receivable financing to support the working capital needs of the portfolio. Tommy Dillion of Capital Funding originated the bridge-to-HUD transaction, and Jeffery Stein of Capital Finance originated the accounts receivable transaction. Read More »
Eden Senior Care Secures Acquisition Financing
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $54.6 million bridge loan to finance the acquisition of a six-facility skilled nursing portfolio in Pennsylvania. Comprising 925 beds, the portfolio includes Hampton House in Wilkes Barre, Kingston Rehabilitation in Kingston, Pottsville Rehabilitation in Pottsville, Williamsport North and South Rehabilitation in Williamsport and Yeadon Rehabilitation in Yeadon. In conjunction with the bridge loan, Dwight Healthcare Funding also provided a $7 million working capital line of credit with an accordion feature of up to $15 million, which will be used to support the day-to-day operations across all properties. Adam Offman,... Read More »
Grace Management’s Recent Updates
Grace Management, which currently operates 70 communities in 22 states, announced the promotion of Brian Storey to President, effective March 1. This transition follows the company’s leadership succession plan, as Storey steps into the role previously held by Guy Geller, who was promoted to Chief Executive Officer on January 1. As part of the structured transition, Michal Penek has been promoted to Senior Vice President of Operations to backfill Storey’s previous role. Storey joined Grace Management in 2015 and has held key roles across every level of the organization throughout his tenure, demonstrating leadership in operations, strategic development, transitions, turnaround execution and... Read More »
60 Seconds with Swett: DOGE, The Budget and Healthcare Spending
DOGE, or the Department of Government Efficiency, has been making the biggest splash in Washington, D.C. these days in terms of attention-grabbing headlines, and it appears it will try to target waste, fraud and abuse in Medicare and Medicaid spending as part of its efforts. Such a move could have a major impact on thousands of facilities’ bottom lines and could change how SNFs do business if reimbursement rates are affected. That is a major dark cloud hanging over the industry, but there are way too many unknowns to even properly prepare for what’s to come. Because, what is to come? Would DOGE’s efforts go beyond just “waste, fraud and abuse,” which should be rooted out? Will the... Read More »
Apollo Acquires Bridge Investment Group
Apollo and Bridge Investment Group Holdings have entered into a definitive agreement for Apollo to acquire Bridge in an all-stock transaction with an equity value of approximately $1.5 billion. Bridge has $50 billion of AUM in complementary sectors aligned with Apollo’s long-term growth strategy. Bridge’s seniors housing portfolio totals 62 communities and 6% of its fee-earning AUM comes from seniors housing, while Apollo’s “retirement services unit” reported earnings of $841 million. At closing, Bridge stockholders and Bridge OpCo unitholders will receive .07081 shares of Apollo stock for each share of Bridge Class-A common stock and each Bridge OpCo Class-A common unit,... Read More »
Brightview Divests to Joint Venture in Maryland
Solera Senior Living, through a joint venture with Focus Healthcare Partners, acquired a seniors housing community in Bethesda, Maryland, from Brightview Senior Living. Built in 2019, Brightview Bethesda Woodmont comprises 92 assisted living and 21 memory care units. Occupancy was around 86% at closing, and Solera will take over operations. It will be rebranded as Modena Reserve at Bethesda. Newmark handled this transaction and arranged five-year acquisition financing, with a three-year interest-only period, from a national bank. Read More »
Six Active Adult Communities Secure Freddie Mac Financing
Walker & Dunlop secured a $200 million Freddie Mac financing for six active adult communities. The communities comprise more than 1,100 units in Texas, Oklahoma, North Carolina, South Carolina and Washington D.C. Average occupancy across the communities was 95% at the time of the financing. The fixed-rate, full-term interest-only loan is sized to a 35 year amortization. Read More »
Focus Healthcare Partners Acquires in Minnesota
Focus Healthcare Partners acquired a seniors housing community that comprises 288 units in Maple Grove, Minnesota. Located 12 miles northwest of downtown Minneapolis, the community, SilverCreek on Main, was built in three phases between 2015 and 2024 by Ryan Companies. The original independent living, assisted living and memory care community features a single four-story building with 195 units (106 IL, 49 AL and 40 MC). A 75-unit independent living expansion was built in 2020, and an 18-cottage addition opened in 2024. The property was 93% occupied at the time of sale. SilverCrest Properties will operate the community, establishing a new partnership between the buyer and the... Read More »Schedule a demo
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