Merchants Capital Finances New Middle-Income Communities

A Midwestern developer of affordable and middle-income senior living communities, Wallick Communities, recently opened three assisted living communities in Ohio and obtained bridge financing to fund them through lease-up towards an eventual refinance with HUD. Merchants Capital, a division of Merchants Bank, arranged the nearly $50 million in bridge loans for the three developments. They […]

 

California SNF Acquisition Gets Financing from Harborview

An experienced private investment group acquired a portfolio of six skilled nursing facilities thanks to bridge financing at 90% loan-to-cost. Totaling $51.9 million, the three-year loan was originated by Jonathan Kutner and Eli Kutner of Harborview Capital Partners, and negotiated by Robert Kellerman. The acquired facilities combine for 678 beds and are located throughout California.

 

The 55+ Active Adult Market: The New Frontier of Seniors Housing

Judging by the number of questions we got during our May 16th webinar called “The 55+ Active Adult Market: The New Frontier of Seniors Housing,” it is safe to say that there is plenty of interest in this growing market. Our listeners tuned in to find out what prices active adult communities have been trading […]

 

 

Juniper Communities Jumps on Pennsylvania Property

New Jersey-based Juniper Communities added another Pennsylvania senior living property to its portfolio with the acquisition of a 103-unit assisted living/memory care community in Chestnut Hill (Philadelphia MSA). With the deal, Juniper now owns or operates 12 properties in the Keystone State. The campus is centered around a stone mansion built in 1865 set alongside […]

CCRC With Potential Sells in Northern Virginia

The team at IPA Seniors Housing highlighted a CCRC’s highly desirable location in the affluent Washington, D.C. suburb of Fairfax, Virginia, to sell the asset to an affiliate of Focus Healthcare Partners. Andrew Hilding, Mark Myers and Joshua Jandris represented the seller, Thompson Associates, in the sale, which did not disclose a price. The property, […]

CIT Helps Refinance Florida Assisted Living Portfolio

CIT Group, through its Healthcare Finance business, served as sole lead arranger for a $64 million loan used to refinance three assisted living communities in Florida owned by the borrower, Virtus Real Estate Capital. Totaling more than 350 AL and memory care units, the properties are located in Clermont, Stuart and Tavares, Florida. That comes […]