Berkadia Keeps the Closings Coming
Within the past 45 days, Managing Director Jay Healy and Director Andrew Lanzaro of Berkadia Seniors Housing & Healthcare have closed 13 loans totaling $178 million in proceeds. Included in the total were nine HUD 232/223(f) loans for $102 million, plus another five bridge-to-HUD loans amounting to $76 million. In July, Healy and Lanzaro secured $58.3 million in financing for four skilled nursing facilities in Texas for a Fort Worth-based owner/operator and repeat Berkadia client. The first loan was a $13.7 million HUD 232/223(f) loan for a 104-bed community in Maverick County, Texas, which refinanced a Berkadia bridge loan originated in 2024 to facilitate the acquisition of the... Read More »
Real Estate Investment Firm Obtains Financing
MidCap Financial closed an $18.7 million first mortgage loan. The four-year, floating-rate loan refinanced the existing indebtedness on a seniors housing community in a coastal Southeastern market. The sponsor is an experienced Southeastern-based real estate investment firm. The community is newer and comprises more than 100 independent living, assisted living and memory care units. It is in the process of stabilizing. Read More »
Helios Healthcare Advisors Arranges HUD Refinance
Helios Healthcare Advisors arranged a $10.71 million HUD refinance for a 76-unit assisted living and memory care portfolio located in San Antonio, Texas. The communities historically performed at stabilized levels. Before completing the HUD refinance, Helios arranged an 18-month bridge loan to recapitalize the communities on behalf of a regional owner/operator with 12 locations and more than 700 units across Texas. The refinance marked the final step in a two-year strategy to arrange the capital structure and secure permanent, non-recourse fixed-rate debt. Read More »
Independent Living Community Gets Refinance from Fannie Mae
Aron Will, Vice Chairman of CBRE National Senior Housing, Kevin Randles, Senior Vice President of CBRE, and Adam Mincberg, Senior Vice President of CBRE National Senior Housing, successfully arranged the refinancing of Winding Commons Senior Living. CBRE facilitated a new loan for the community through its Fannie Mae DUS Lending Platform on behalf of long-term client, Ray Stone, Inc. This refinancing enabled the sponsor to secure long-term, 10-year fixed-rate debt with the incumbent lender, and marks CBRE’s second successful financing of the community. Originally built in 2003 and featuring 100 independent living units, the community is situated on a 5.10-acre site in Carmichael,... Read More »
Not-For-Profit Secures Funding for CCRC Expansion
Ziegler announced the closing of the PRS Pacific Northwest Obligated Group Series 2025AB bonds issued through the Oregon Facilities Authority. PRS is a repeat sponsor. The proceeds of the bonds, together with other available funds, will be used to fund the construction of the Cascade Manor Project, a 29-unit independent living expansion, fund a portion of interest during construction, and fund certain costs of issuing the bonds. The bonds are secured by a pledge of gross revenues and real estate of the four Obligated Group communities in Oregon and Washington. Cascade Manor, Inc. is a not-for-profit corporation operating the CCRC in Eugene, Oregon. Since becoming an affiliate of PRS in... Read More »Deland Senior Care, LLC Involved in M&A Activity in LevinPro Database
Deland Senior Care, LLC has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a private skilled nursing facility situated at 130 W Armstrong Ave in Deland, Florida. LevinPro, which tracks M&A activity across more than a dozen healthcare sectors from hospitals and home health to medical real estate and biopharma, profiled the transaction involving Deland Senior Care, LLC in its deal database, which is available to subscribers here. LevinPro has tracked thousands of deals in the skilled nursing facility sector throughout its history. To see the underlying deal data, or for information on subscription options, go to... Read More »
Strawberry Fields REIT Expands in Missouri
Strawberry Fields REIT acquired a senior care facility with 108 skilled nursing beds and 16 assisted living beds for $5.3 million, or $42,700 per bed, in Poplar Bluff, Missouri. The facility was added to an existing master lease with an affiliate of Reliant Care Group. The acquisition will increase the REIT’s annual rents by $530,000 and is subject to 3% annual increases. This acquisition marks its 18th facility in Missouri. Read More »
QualisTerra Senior Ventures Secures Acquisition Loan for Strong-Performing Community
Alec Blanc of Monarch Advisors closed a new loan for the acquisition of a 42-unit assisted living community in Gaylord, Michigan. Built in two phases in 2019 and 2020, the community was a strong performer, with full occupancy and a healthy margin. The borrower, QualisTerra Senior Ventures, a private seniors housing investment group, engaged Monarch to source senior debt for the transaction. Monarch was successful at securing a three-year non-recourse acquisition term loan commitment from a debt fund lender. The leverage fell between 70% and 75%. Read More »
Developer/Investor Recapitalizes its First Seniors Deal
A former office-to-senior-care conversion project in New Jersey just received a recapitalization and revolver, courtesy of Metropolitan Bank and G Capital. Grant Goodman of G Capital arranged the loan on behalf of an experienced developer/investor with a 30+ year track record and a diversified investment portfolio. The borrower has deep expertise in the hospital sector, but this was its first senior care deal. It had partnered with a veteran SNF operator to convert the asset into a modern senior care facility inspired by the Green House model, investing significant equity in the project. Featuring both skilled nursing and assisted living services, it re-opened in March 2020. That was... Read More »
HUD Provides Construction Financing for Seniors Housing Development
CBRE National Senior Housing originated construction debt from HUD for a seniors housing development in Rancho Cucamonga, California. The project, Rancho Cucamonga Memory Care, is being built by a joint venture between Flatiron Development Group, Spring Capital Group and Anthem Memory Care. Upon completion, it will feature 64 units (72 beds) in a single-story, H-shaped building design. Resident units will make up the north and south wings, while the central portion will house the main entrance, commercial kitchen, laundry facilities, administrative offices, and communal living and dining spaces. CBRE National Senior Housing’s Debt & Structured Finance Team, led by Aron Will,... Read More »Schedule a demo
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