• Chicagoland Portfolio Finds New Owner

    A value-add senior care portfolio in Chicagoland traded with the help of Blueprint’s Ryan Kelly, Connor Doherty, Alex Florea, Lauren Nagle and Brooks Blackmon. The team worked on behalf of a national developer/investor, which had engaged Blueprint to create an exit strategy for more than a dozen geographically disparate, older-vintage communities... Read More »
  • Publicly Traded REIT Divests in Illinois

    Berkadia was engaged in the divestment of an assisted living and memory care community in Barrington, Illinois. The Berkadia Seniors Housing Team, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, closed the transaction on behalf of a publicly traded REIT. The buyer was a regional owner/operator. But no other details were... Read More »
  • CFG Secures $13.55 Million in HUD Loans

    Capital Funding Group closed two HUD loans totaling $13.55 million to support the refinancing of two skilled nursing facilities. Both facilities are in Illinois, and together they comprise 173 beds. No other details surrounding the financing were disclosed. This announcement follows CFG’s closing of $16.25 million in bridge-to-HUD financing on... Read More »
  • CBRE Secures Bridge Financing For Two Communities

    CBRE secured bridge financing for two seniors housing communities in western Pennsylvania. Aron Will and Tim Root arranged a non-recourse loan with a sub-300 spread through a regional bank. The borrower was CPF Living Communities.  Built in 2017, The Residence at Bethel Park is in Bethel Park with 130 independent living units. The Residence at... Read More »
  • G Capital Markets Closes Cash-Out Recap

    G Capital Markets, a capital advisory firm based in Carmel, California, recently closed on the recapitalization of a 29-unit/59-bed assisted living community in Livermore, California. Built in 2021 by a regional owner/operator, the property leased up in 2022 and has shown consistent strong performance since then, with cash flow margins well over... Read More »
Cambridge Secures Loans for Two Illinois SNFs

Cambridge Secures Loans for Two Illinois SNFs

Cambridge Realty Capital Companies has secured HUD loans to refinance two skilled nursing facilities in Illinois. The first, Alden Town Manor, is a 249-bed facility in Cicero. It is receiving a $12.72 million loan, which is fully amortized with a 25-year term. The other facility is Alden Princeton Rehabilitation and Health Care Center in Chicago, which has 225 beds and will receive $7.84 million. The loan is fully amortized and comes with a 40-year term. Both facilities are owned by a limited liability company in Illinois. Read More »
Cambridge Realty Provides Loan for SNF Refinancing

Cambridge Realty Provides Loan for SNF Refinancing

Cambridge Realty Capital Companies has provided a $14.1 million HUD loan to refinance Alden Estates of Barrington, a 150-bed skilled nursing facility in Barrington, Illinois. The fully-amortized, 40-year loan was provided for the owner, an Illinois limited liability company.  Short-term rehabilitation, transitional care, and post-acute services are all available at Alden Estates of Barrington. It offers four exclusive medical programs: OrthopedicPro™, CardioPro™ PulmonaryPro™, and NeuroStrokePro™. It was built in 1986.  Read More »
Cambridge Realty Capital Secures Illinois HUD Refinance

Cambridge Realty Capital Secures Illinois HUD Refinance

Cambridge Realty Capital Companies refinanced a large skilled nursing facility in Rockford, Illinois (near the Wisconsin border) with a HUD loan. Built in 1963 and now featuring 270 beds, the facility is owned by an Illinois-based LLC.   It provides short-term rehab care in both semi-private and private units. Services include orthopedic, cardiac, pulmonary and neuro-stroke rehabilitation, behavioral health and on-site dialysis. To refinance an existing HUD mortgage, Cambridge arranged a new $12.04 million loan with a fully amortizing, 35-year term.  Read More »
Cambridge Ends Year With 13 Closings

Cambridge Ends Year With 13 Closings

Cambridge Realty Capital just announced its fourth quarter closings, which numbered 13 transactions valued at $100 million. That brings the firm’s 2020 total activity to 40 closings and $415 million in dollar volume, the second-highest number of annual closings in Cambridge’s history. The 40 properties that were financed were primarily nursing facilities and totaled 5,254 beds or units across several states.  The largest deal was a $16.9 million loan closed for a senior care facility in Peru, Illinois, with 94 skilled nursing beds, 68 assisted living units and 36 sheltered care beds. Other highlights include a $9.7 million loan for 164-bed skilled nursing facility in the... Read More »
New Jersey SNF Gets HUD Refinance

New Jersey SNF Gets HUD Refinance

Cambridge Realty Capital Companies secured a HUD refinance for a 102-bed skilled nursing facility in Madison, New Jersey. Previously owned by Extended Care Clinical, the facility last sold in 2016 for $8.3 million, or $81,400 per bed, to a family owner/operator.   Built in 1947 with 102 beds in two stories, the facility provides both short- and long-term care, with a subacute rehab center in a separate wing. Services range from orthopedic and trauma care to stroke, cardiac, tracheostomy and wound care. There are also on-site EKG’s, lab services and bladder scans. It is located across the street from Drew University and about three miles from Morristown Memorial Hospital.  Cambridge... Read More »