Joint Venture Divests Third Class-A Asset
Caddis Partners and Singerman Real Estate have divested another seniors housing community, Heartis Fayetteville. This comes shortly after the joint venture’s sale of Heartis Venice and Heartis Longview. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare represented the seller in all three transactions. Heartis Fayetteville is a 167-unit, Class-A asset in the Atlanta, Georgia MSA, that offers independent living, assisted living and memory care services. The marketing process was highly competitive, with Capitol Seniors Housing selected as the ultimate buyer. The company will rebrand the community as Village Park Fayetteville and bring... Read More »
Bonds Issued for Independent Living Expansion
Ziegler closed John Knox Village’s $47.85 million Series 2026A, B-1, B-2 and B-3 bonds issued through the City of Lee’s Summit, Missouri. John Knox Village (JKV), a Missouri not-for-profit corporation, is a CCRC consisting of 1,038 independent living units, 180 assisted living units and 121 skilled nursing beds. This transaction marks JKV’s seventh financing with Ziegler since 2007. The Series 2026 bonds consist of four tranches of tax-exempt debt: Series 2026A Fixed Rate bonds ($18.85 million), Series 2026B-3 TEMPSSM-50 ($17.05 million), Series 2026B-2 TEMPSSM-70 ($6.83 million) and the Series 2026B-1 TEMPSSM-85 ($5.13 million). Proceeds, along with a $500,000 equity contribution... Read More »
California AL/MC Community Secures C-PACE Financing
The owner of a seniors housing community in Simi Valley, California, was evaluating a recapitalization of the asset and worked with Bayview to secure C-PACE financing. The borrower wished to return some equity for future investments while also reducing existing bridge debt. Bayview identified an opportunity to structure a look-back C-PACE loan against approximately $13 million of eligible costs, generating accretive proceeds that supported both sponsor liquidity and paydown of the existing bridge facility (without displacing senior debt). The loan came with a 29-year term and closed approximately six weeks after term sheet execution. Varenita of Simi Valley has been operated by... Read More »
Bond Proceeds to Fund California Seniors Housing Development
JLL and HJ Sims arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a 214-unit seniors housing community in Huntington Beach, California. It is currently under construction and set to open in 2028. HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds. JLL’s Senior Housing Capital Markets team, as real estate advisor, also collaborated on the project. The fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds, and was issued through the California Public Finance... Read More »
Berkadia Announces Array of Closings
Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the communities in October and was able to stabilize operations. The company is targeting an additional 15 properties to acquire in 2026. The Berkadia team also closed the sale of The Waters of Eden Prairie, a 156-unit full-continuum seniors housing community in the Minneapolis, Minnesota MSA. The property was sold by an institutional private equity firm and... Read More »
Tremper Capital Group Closes Several Financings
Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area. The financing supports the continued expansion of a high-quality seniors housing platform backed by Braemar Partners and operated by The Arbor Company. Construction projects are still getting done (and financed), as long as they are catering to high-income seniors in high-growth markets, with best-in-class operators, of course. Next, TCG closed... Read More »
Upstate New York SNF Trades Between Not-for-Profits
Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995. Apparently, the facility was generating large annual losses due to empty beds, as well as other factors. But there was strong interest in the property, with not-for-profit Essential Health selected as the buyer. Essential Health had been consulting with the not-for-profit medical system-seller, Southwestern Vermont Health Care, for two years on a turnaround plan, and... Read More »
Acquisition Financing Closed for Distressed California Community
Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the transition period. The assisted living community had been foreclosed on by its lender and placed into receivership as a result of operational and financial underperformance under the previous owner. The receiver made incremental improvements, but at the time of sale there was still plenty of upside potential. The financing was originated through... Read More »
Developer and Operator Secure Construction Financing
Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is a multi-generational seniors housing owner/operator with a portfolio across the Southeast that offers independent living, assisted living, memory care and active adult units. Fellowship Wildlight is set to include 125 independent living units, eight active adult cottages, 48 assisted living units and 24 memory care units. The community will... Read More »
NHP Sets Sights on Seniors Housing
National Healthcare Properties drew attention when it decided to debut on the public markets, and it made its private pay seniors housing ambitions clear with its recent agreement to divest a large outpatient medical facility (OMF) portfolio. The 86-facility portfolio will be sold for $528.2 million, including $278 million of secured debt to be defeased or assumed by the potential buyer, and proceeds will likely be put towards SHOP acquisitions. That is yet another institutional player putting meaningful capital to work in the sector, with more likely on the way. The OMF portfolio divestment, along with several of NHP’s signed purchase and sale agreements for SHOP assets, have already... Read More »Schedule a demo
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