• SLIB’s Red-Hot Start to May

    Senior Living Investment Brokerage shot out of the gates in May, announcing six separate closings within just a couple of days. The closings included a couple of portfolios, two seniors housing asset sales and two skilled nursing deals. SLIB is on track for another record-breaking year. The largest deal was an eight-property seniors housing... Read More »
  • Independent Living Asset Near Breakeven Changes Hands

    Blueprint handled the sale of a 60-unit independent living community located just outside of Cleveland, Ohio. At the time of sale, the property was operating around breakeven and offered the opportunity for upside. The option to transition the community to an assisted living waiver model was presented, but the incoming regional owner/operator... Read More »
  • National Health Investors Leans Further Into SHOP Growth

    National Health Investors is continuing to lean into its SHOP segment, having invested $742.5 million into the strategy throughout the first quarter, a 106% increase from the prior year period. Year-to-date, the REIT has announced $212.4 million of investments, and is continuing to evaluate additional opportunities, focusing on private pay... Read More »
  • Senior Care Portfolio Secures Refinancing

    T7 Capital, a boutique seniors housing and healthcare advisory firm founded by industry veterans Ari Adlerstein and Josh Simpson, recently arranged a large bank refinancing for a portfolio of seniors housing and skilled nursing assets in Massachusetts. Working on behalf of a New York-based family office, T7 secured a $57.979 million loan from... Read More »
  • Regional Bank Provides Financing for MC Community

    Jeremy Warren of Montgomery Intermediary Group arranged a refinancing for a client’s 48-unit memory care community in Merrillville, Indiana. Originally built in 2016, the community was stabilized and had an approaching debt maturity. The owner sought to retire both the existing bank debt and an outstanding seller note from the initial... Read More »

CFG Capital Markets Advises on Seniors Housing Sale

We typically see Capital Funding Group in the financing side of the business, boasting a steady stream of agency and bridge loan closings of late. But CFG Capital Markets, its investment banking and securities subsidiary, has just announced they represented the seller in its disposition of two seniors housing communities operated by Oxford Senior Living. Located in Derby, Kansas (Wichita MSA), the 48-unit stand-alone memory care community was built in two phases in 2011 and 2013. The McKinney, Texas community features 73 units of assisted living and memory care, and only just opened in January 2017 at a cost of $15 million, or $205,500 per unit. Understandably, it is still in lease-up, at... Read More »

Capital Funding’s Trio of Financings

Showing off its prowess at HUD refinances, Capital Funding Group closed three of them for clients in the Southeast. First, in Washington D.C., Patrick McGovern provided a $10.5 million HUD loan to a 183-bed skilled nursing facility. This transaction comes full circle for Mr. McGovern, who arranged the original bridge acquisition loan (being taken out by the current HUD refinance) in addition to a $2 million working capital line to finance operations. Then, Gary Sever of Capital Funding Group closed two other transactions, including a $2.57 million HUD loan for an assisted living community in North Carolina and an $18.9 million HUD refinance of an assisted living community in Crozet,... Read More »

CFG’s transaction trifecta

Capital Funding Group showed off its variety of services in its latest grouping of closings, totaling $25 million in financing. Gary Sever led the way in the largest transaction, closing a $17.6 million HUD construction loan for a to-be-built assisted living/memory care community in Cary, North Carolina. The building is expected to open in May 2017 with 40 AL and 40 MC units. Meanwhile, Jeffrey Stein originated a $5 million cash flow loan for a Texas skilled nursing operator. And finally, Chip Woelper arranged a $2.5 million working capital line of credit for a 141-bed skilled nursing/rehabilitation facility in Los Angeles. Well done to the CFG team. Read More »

Capital Funding Locks in Acquisition Financing

We know how long skilled nursing acquisitions can take in the state of New York. That didn’t stop Maximus Healthcare LLC from acquiring Briody’s Health Care, an 82-bed skilled nursing facility in Lockport, New York (just outside of Rochester). It was first announced back in May 2015 that Maximus intended to acquire the facility, which had been owned by the Briody family for three generations. But the family’s presence at the facility will still be felt, with the existing administrator, Ann Briody Petock, electing to stay on. To finance the acquisition, Craig Casagrande of Capital Funding Group originated a $6.683 million bridge loan. Maximus also has plans to modernize the facility’s... Read More »

Capital Funding’s closings

Capital Funding Group closed a couple of transactions recently for SNFs up and down the East Coast. Starting in New York, the lender provided a $19.1 million bridge-to-HUD loan for a borrower to acquire a 167-bed skilled nursing facility. The loan covered over 90% of the $20.87 million, or $125,000 per bed, purchase price. Craig Casagrande originated the transaction, which was funded through a combination of senior and mezzanine debt and included a turnaround component based on projected improvements to the facility’s performance. Plus, Chip Woelper originated a $3 million working capital loan for the borrower to finance operations. In a separate transaction, Capital Funding served as sole... Read More »