Elevation Financial Group Acquires in Texas
Elevation Financial Group announced the acquisition by Elevation Real Property Fund VIII of Reunion Court of Kingwood in Houston, Texas. The asset was acquired for $7.25 million, or $38,000 per unit. Built in 2000, Reunion Court of Kingwood comprises 120 independent living, 42 assisted living and 28 memory care units. Elevation will repurpose the independent living building into senior apartments and the community will be rebranded as King’s Preserve at Kingwood. The capital expenditure plan includes a new secured access and camera system, repairs to HVAC systems, sidewalk and parking lot improvements and fresh paint. The previous owner, a large private equity group, infused a... Read More »
IRA Capital Secures Financing
BMO’s Healthcare Real Estate Finance group announced that it closed on a $58 million term loan with IRA Capital related to a 252-unit seniors housing community in Lynnwood, Washington. The property consists of independent living, assisted living and memory care units. Living Care Lifestyle manages the asset. According to LevinPro LTC, IRA and an institutional partner (with substantial dry powder) acquired Quail Park of Lynnwood in June 2024 from a joint venture. The joint venture seller included CA Senior Living, Goldman Sachs and Life Care Lifestyles. At the time, the buyer noted that it intended on investing additional capital to update common areas and amenities. JLL Capital Markets... Read More »
Senior Living Operator Secures Financing
SLR Healthcare ABL provided an $8 million asset-based revolving credit facility to a Midwest based senior living operator. The operator manages more than 30 skilled nursing facilities across multiple states. Proceeds of the credit facility were used to refinance existing debt and provide additional liquidity for operations. The transaction was referred to SLRHC by an existing client. Read More »
Tremper Capital Group Secures Competitive Bank Loan
One of the takeaways from the NIC Spring Conference earlier this month was that more lenders seemed willing to jump back into the market, possibly offering more competitive terms to get deals, as well. Tremper Capital Group has seen that first hand with one of its latest financings. The borrower was Focus Healthcare Partners, looking to finance its acquisition of Cedarhurst of Woodland Hills in Tulsa, Oklahoma. Originally built in 2016 as an active adult community by Avenida Partners and Carlyle Group, Woodland Hills features 140 independent living units and has been rebranded as The Cedars at Woodland Hills, with 12 Oaks brought in to manage it. Occupancy was in the low-90s, and it... Read More »
Family-Owned Company Acquires in Texas
Matthew Alley and Brad Goodsell of Senior Living Investment Brokerage were engaged by a local partnership in its divestment of its only seniors housing asset. The buyer was a local family-owned company that intends to take advantage of the strong cash flow of the building. The community, which is in Plano, Texas, was acquired for $3.7 million, or $142,000 per unit. Built in 2016, Bader House Memory Care sits on 2.9 acres with 12,323 square feet and features 26 memory care units with room for expansion. The community was 92% occupied at the time of the sale. It was making $1.86 million in revenues and $397,000 of EBITDAR, and sold for a cap rate of 10.7%. Read More »
California Investor Secures Three Separate Financings
Berkadia Seniors Housing & Healthcare announced the closure of $26 million in bridge-to-HUD loans across three transactions for an El Segundo, California-based sponsor. Jay Healy and Andrew Lanzaro closed the loans on behalf of the repeat client. Berkadia anticipates closing all three subsequent HUD refinancings in the second half of 2025. The first transaction involved a $6 million bridge-to-HUD loan to facilitate the acquisition of a 48-bed memory care community in Jackson County, Oregon, for a joint venture between the sponsor and a Medford, Oregon-based operator that has managed the community since 2022. Constructed in 2016, the community had a 90% occupancy rate at closing with... Read More »
CFG’s Recent Financing Activity
Capital Funding Group announced it financed over $41 million across three transactions from mid-February to early March. The transactions supported four skilled nursing facilities and an assisted living and memory care community spread throughout the country and were executed on behalf of nationally recognized borrowers. First, in February, CFG secured a $27 million bridge-to-HUD loan for the refinancing of three SNFs in South Carolina and Missouri that comprise 397 beds. CFG refinanced and upsized the debt on a portfolio, allowing the borrower to recoup operational losses resulting from a re-tenanting process. Next, in February, CFG secured an $8 million bridge-to-HUD loan, which included... Read More »New Fund Enters Seniors Housing Space
Franklin Templeton and its specialist investment manager, Clarion Partners, announced Clarion Partners Real Estate Income Fund’s entry into the seniors housing sector through a debt investment in The Pearl at Boulder Creek, a seniors housing community with 116 independent living and assisted living units in Boulder, Colorado. CPREX is a closed-end tender offer fund that provides individual investors with access to institutional-quality private real estate through stable, well-leased, cash flow-producing properties across the U.S. Read More »
Fairview Secures Bond Anticipation Notes
Ziegler announced the closing of Fairview’s $7.5 million Series 2025A bond anticipation notes (BANs) through the Connecticut Health and Education Facilities Authority. Not-for-profit Fairview has a 70-acre campus on the Groton, Connecticut waterfront, and it features several facilities providing rehabilitation services and options for independent living. Fairview currently has 164 total units consisting of 100 skilled nursing beds and 64 independent living beds. The BANs will be used to fund predevelopment costs for a campus repositioning project with the objective of transforming the current healthcare-oriented campus into a more modern and sustainable CCRC model. As part of the... Read More »
Not-For-Profit Secures Bond Financing
Ziegler announced its closing of $230.25 million of Series 2025 bonds for a Texas not-for-profit organization, Bella Vida Forefront Living (formerly known as Bella Vida at La Cantera Forefront Living). The proceeds will be used, together with other available funds, for the purpose of financing and refinancing the cost of acquiring, developing and constructing a new retirement community, including the refinancing of Bella Vida’s outstanding Series 2023 bond anticipation notes. They will also be used to fund a debt service reserve fund, fund capitalized interest through March 1, 2027, and pay costs of issuance of the Series 2025 bonds. Forefront Living, a Texas not-for-profit organization,... Read More »Schedule a demo
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