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 »
Financing for Covenant Living Communities and Services
The Colorado Health Facilities Authority plans to issue $148.6 million of bonds to pay for certain costs linked to long-term care facilities operated by Illinois-based not-for-profit organization Covenant Living Communities and Services. Covenant operates a continuing care system of retirement communities, assisted living communities and skilled nursing facilities on behalf of the Board of Benevolence of The Evangelical Covenant Church. The authority will loan the proceeds from the Series 2025A revenue bonds to Covenant, which will use them for the payment of the costs of acquiring, constructing, remodeling, renovating and equipping long-term care facilities. The proceeds will also be used... Read More »
Sabra’s CIO Retires
Sabra Health Care REIT announced that Talya Nevo-Hacohen, Sabra’s Chief Investment Officer, Treasurer and Executive Vice President, will be retiring effective December 31. Nevo-Hacohen helped build Sabra into a $6.5 billion enterprise with 399 investments from a newly formed REIT with 86 properties leased to a single tenant. Nevo-Hacohen is expected to remain in a consulting role with Sabra pursuant to a two-year consulting arrangement. Darrin Smith, Sabra’s Executive Vice President, Investments, is expected to take on the role of Sabra’s CIO effective January 1, 2026. Smith has over 30 years of real estate experience, and has been with Sabra for five years. A seamless transition is... Read More »
Vacant Texas AL/SNF Community Trades Hands
Amy Sitzman and Giancarlo Riso of Blueprint were engaged by a repeat client in the divestment of its vacant senior care community in Waco, Texas. Last operated in 2018, the community closed due to the prior operator’s inability to service above-market rent payments. Built in 2015, the community comprises 106 assisted living units and skilled nursing beds and was well maintained by ownership. It sits on 6.7 acres, directly adjacent to Baylor Scott & White Medical Center – Hillcrest, the leading acute care provider in Waco. Blueprint advised the seller to move forward with a highly competitive all-cash offer that was submitted by a leading provider of transitional skilled... Read More »
Bob Jones University Divests AL/MC Community to Joint Venture
Dan Geraghty and Brad Clousing of Senior Living Investment Brokerage facilitated the sale of a seniors housing community in Greenville, South Carolina, on behalf of Bob Jones University. BJU is exiting the business to focus on its core values. With a solid long-term foundation of financial performance, the asset offers an opportunity to capitalize on existing cash flow with potential for profitability enhancement. Built in 1927 with renovations completed between 1960 and 2014, Shepherd’s Care Assisted Living and Memory Care Community sits on 5.7 acres with 60 units across 65,762 square feet. The community was 88% occupied at the time of sale. After reviewing several offers, the... Read More »
Cougar Capital Management Acquires in Tennessee
Berkadia sold the final property in a 16-property seniors housing portfolio, completed through 11 separate transactions over the past 12 months. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders represented the publicly traded REIT seller. The portfolio comprised 16 assisted living and memory care communities, totaled over 1,200 units and spanned nine states. Eight buyers, primarily regional or local owner/operators, acquired the properties within the portfolio. The final property, an 86-unit AL/MC community in the Knoxville, Tennessee MSA, was purchased by Cougar Capital Management. Read More »Schedule a demo
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