• Berkadia Announces Array of Closings

    Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the... Read More »
  • Tremper Capital Group Closes Several Financings

    Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area.... Read More »
  • Upstate New York SNF Trades Between Not-for-Profits

    Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995.  Apparently, the facility... Read More »
  • Acquisition Financing Closed for Distressed California Community

    Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the... Read More »
  • Developer and Operator Secure Construction Financing

    Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is... Read More »

TLC and Seniors Housing

Lancaster Pollard’s Propero® Seniors Housing Equity Fund II is in the news again. BMO Harris Bank’s Commercial Real Estate Healthcare group recently closed a $30+ million construction loan for the development of a 242-bed assisted living/memory care/skilled nursing facility in Ocala, Florida. TLC Management, an owner/operator of skilled nursing facilities and seniors housing communities for nearly 30 years in Indiana and Florida, is developing the property with Propero, which provided the equity. Read More »

BMO closes over $80 million

Two active investors in the seniors housing M&A market worked with BMO Harris Bank’s Commercial Real Estate Healthcare group to close acquisition financing for two of their latest purchases. First up, Kayne Anderson received $34.6 million in financing to acquire and expand a 135-unit senior living community in Melbourne, Florida. The property was built in 2012 to feature 47 independent living, 54 assisted living and 34 memory care units. It was 97% occupied, and sold for $45.5 million, or $337,037 per unit. And second, BMO closed over $40 million of acquisition financing for ROC Seniors Housing Fund Manager to acquire two just-built assisted living/memory care communities in New York.... Read More »