Berkadia Arranged Two Bridge Loans

Berkadia announced two financings for a total of eight senior care properties. The first transaction saw the firm close a $15.25 million bridge loan for the acquisition of seven skilled nursing facilities located throughout the Midwest. Comprised of 426 operating beds, the portfolio was acquired by a first-time client of Berkadia’s. They obtained a two-year, […]

Berkadia Closes Three Financings for SNF Clients

Berkadia announced a series of loan closings last month totaling $57.2 million. There were four HUD financings, including three loans totaling $26.2 million closed for a portfolio of three skilled nursing facilities in Washington. Jay Healy arranged the financing for a Washington-based owner/operator, which used the proceeds to pay off short-term debt, fund improvements to […]

Inland Private Capital Corporation Makes First Seniors Housing Acquisition

As part of its larger disposition/restructuring strategy, Capital Senior Living Corporation announced in its third quarter earnings report that it sold two non-core independent living communities in Peoria, Illinois and Springfield, Missouri, generating some healthy proceeds in the process. The communities sold for a combined $64.75 million, or nearly $205,000 per unit, resulting in $14.8 […]

HUD Lean Volume Hits an All-Time High

The HUD LEAN program had quite a fiscal year 2019, topping $3.7 billion in transaction volume across 288 transactions. The transaction number may be 1% down from the 292 closings in FY2018, but the dollar volume is up 3.6% to reach a record high for the program. HUD used to be the “lender of last […]

The Tale of Two SNFs

Every now and then, there is a transaction that really highlights the two diverging skilled nursing markets. On the one side are the older, traditional SNFs that struggle with high Medicaid censuses, rising physical plant costs and shrinking operating margins, and often end up selling for under $50,000 per bed, or lower. Then, there are […]

Berkadia Finds a Way in Federal Way

Tim Cobb of Berkadia Senior Housing Investment Sales sold an assisted living/memory care community in Federal Way, Washington, working on behalf of the seller, Columbia Pacific Advisors. Built in 1997, the target comprises 87 units and 104 beds. It will be taken over by a joint venture involving Harrison Street Real Estate Capital and Gencare […]