• Texas Skilled Nursing Portfolio Sells

    A portfolio of skilled nursing facilities traded hands in Texas before the end of the year. There are two assets in the Lubbock area and two in Central Texas that are located northwest of Austin. They comprise more than 430 beds, with between 100 to 120 beds at each of the four facilities. Three of the buildings were constructed in the 1970s, and... Read More »
  • CIBC Bank’s Recent Activity

    CIBC Bank USA closed an impressive array of transactions in the last several months, totaling more than $800 million in credit facilities across the country. The largest transaction was an $85 million (with earn-outs) debt package for a senior care portfolio in the Northeast. The debt included a senior term loan and a mezzanine loan to refinance... Read More »
  • Family-Owned Company Refinances Washington Community

    Lument closed a $21.5 million HUD loan to refinance Village Green of Federal Way, a seniors housing community in Federal Way, Washington. The building features 136 licensed assisted living units and 34 independent living cottages.The sponsor, Village Green, is a family-owned company. Lument helped navigate the pending loan maturity through HUD’s... Read More »
  • Not-for-Profit Secures Financing for Debt and Development

    HJ Sims closed a $105 million tax-exempt bank placement for Shepherd of the Valley Lutheran Retirement Services, Inc., the proceeds of which were used to refinance all outstanding bank debt of the organization and provide new money for a start-up campus in Salem, Ohio. The new Salem campus will comprise 36 market-rate independent living villas,... Read More »
  • Evans Arranges New SNF Lease

    Evans Senior Investments arranged a new lease for a skilled nursing facility in Denver, Colorado, securing a 293% increase in rent on a per-bed, per-month basis in the process. At the time of marketing, the facility was 62% occupied with minimal Medicare Part A referrals. However, the 1960s-built facility has 16 private units and is proximate to... Read More »
PE Group Gets Financing from BMO Harris Bank

PE Group Gets Financing from BMO Harris Bank

BMO Harris Bank’s Healthcare Real Estate Finance team supported a private equity group’s acquisition of a 132-unit seniors housing community in Bloomington, Indiana, by acting as sole lender of a $19.5 million senior secured term loan. Midwest operator Arrow Senior Living will be the new fee-based manager of the three-year old community, adding more dining services and enhanced social events in addition to the existing amenities like complementary chauffeured transportation, spacious courtyards and a fitness center, among others. Arrow manages each of its 13 communities in partnership with its parent company, Turnaround Solutions LLC, an affiliated seniors housing consulting company that... Read More »