BMO Harris Bank Closes Credit Facilities

BMO Harris Bank’s Healthcare Real Estate Finance group has been busy lately closing credit facilities for senior living clients. The first transaction saw the bank close a $59.4 million facility for LCS’ acquisition of The Clare CCRC in downtown Chicago, Illinois. We profiled the sale in this month’s edition of The SeniorCare Investor, and subscribers […]

 

Greystone Funds Harbert’s Acquisition of California Community

Harbert Seniors Housing Fund II, L.P. has acquired a 134-unit senior living community in Rocklin, California thanks to a Fannie Mae financing arranged by Greystone. Built in 2015 and operated by Merrill Gardens, this community operated with independent living, assisted living and memory care units, with a licensed capacity of 142 residents. Merrill Gardens will […]

 

 

 

SLIB Closes First 2020 Deal

Dave Balow just closed Senior Living Investment Brokerage’s first deal of 2020, featuring a 42-unit active adult community in Ithaca, New York. Built in 1986 with all cottage-style apartments, the community was well-maintained and boasts a long wait list. It’s not affiliated with Cornell University, but apparently a number of Cornell professors live there. Operations […]

 

Dwight Capital’s Active Fourth Quarter

Dwight Capital reported a very active fourth quarter, with more than $116 million of HUD and bridge loans closed for senior living and skilled nursing clients. One of the largest transactions saw Adam Sasouness and Adam Offman finance a $16.5 million bridge loan for a 375-bed skilled nursing facility in Oklahoma City, Oklahoma that features […]

 

JLL Capital Markets Secures JV Equity

A brand-new age-restricted town home community is going up in the Long Island hamlet of Mount Sinai, thanks in part to $18 million of joint venture equity secured by Evan Pariser, Rob Hinckley, Nicco Lupo and Sophie Cohen of JLL Capital Markets. Sculptor Capital Management Inc., formerly known as Och-Ziff Capital Management Group, provided the equity. Ornstein Leyton […]

CCRCs Are Not Dead, and Happy New Year

Two recent CCRC sales prove the point that this market can thrive. You know one of my favorite refrains by now. CCRCs are not dead. And two recent transactions prove my point. At the end of December, David Reis and his Senior Care Development, together with their equity partner Fundamental Advisors, closed on the sale […]