• Here We Go Again With The Post

    by | May 6, 2024 12:35 am | Opinion

    The Washington Post is on the attack again, publishing a story last Friday on the overuse of 911 calls when a resident falls in assisted living or independent living, and how some towns are starting to charge seniors housing communities a fee for each 911 visit of this sort. Apparently, in some towns these 911 “fall” calls have been rising. If we... Read More »

  • Bourne Acquires AL/MC Asset (with HUD Debt)

    by | May 3, 2024 3:33 pm | Acquisitions

    Representing a regional owner/operator, Evans Senior Investments successfully sold Trinity Hills of Knoxville, an 80-unit assisted living/memory care community in Knoxville, Tennessee. Built in 2006, the community features 66 AL and 14 MC units, all serving private pay residents. Occupancy was strong at the time of marketing, at 92%, and it... Read More »

  • Berkadia Finances Clarendale Clayton

    by | May 3, 2024 3:28 pm | Financings

    Berkadia refinanced Clarendale Clayton, a best-in-class seniors housing community in Clayton, Missouri (St. Louis MSA), that offers the full continuum of care in a high-end, resort-style setting. Opened in 2021, the 13-story property features 283 units of independent living, assisted living and memory care.  Managing Director Austin Sacco of... Read More »

  • Multifamily Investor Buys Ohio IL Community

    by | May 3, 2024 3:25 pm | Acquisitions

    An independent owner/operator chose to strategically divest its 102-unit independent living community in a prominent suburb of Cleveland, engaging Blueprint to get the deal done. Built in the late 1980s, the purpose-built community was stabilized, cash-flowing and well occupied. Plus, there was upside through a capital deployment plan. Few of... Read More »

  • Dwight Capital Announces Q1 Activity

    by | May 3, 2024 3:23 pm | Acquisitions, Financings

    Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $152.5 million in transactions during the first quarter of 2024. Among the transactions were a $44 million bridge loan for a 369-bed, seven-story skilled nursing facility in the Southwest U.S. The bridge loan, which closed in conjunction with a $5 million revolving line of... Read More »
Carnegie Capital Finances Western Seniors Housing Deal

Carnegie Capital Finances Western Seniors Housing Deal

by | Jan 28, 2021 1:51 pm | Acquisitions, Financings

JD Stettin of Carnegie Capital announced a couple of loan closings that funded the acquisition of two senior living communities in Montana and Wyoming. If that deal sounds familiar, it’s because we covered Senior Living Investment Brokerage’s involvement in it earlier this week.   Totaling a combined 107 units, split between 61 independent living and 46 assisted living units, the deal included a community built in 1995 in Cody, Wyoming and one in Great Falls, Montana that opened in 2003. They’re in good condition and reported positive cash flow, but occupancy could be improved, currently sitting at 72% at the Cody location and 87% in Great Falls. Both... Read More »
Carnegie Capital Closes Fairfield County Construction Loan

Carnegie Capital Closes Fairfield County Construction Loan

by | Dec 27, 2020 9:22 pm | Financings

An assisted living/memory care community that broke ground in Fairfield County, Connecticut this Spring (quite a time for that) just received bank financing arranged by JD Stettin of Carnegie Capital. The five-year construction loan totaled $24.5 million, or nearly $190,000 per unit, and came with a low-4% interest rate. At 65% loan-to-value, that puts the construction cost at nearly $37.7 million, or about $290,000 per unit. For Fairfield County, that is about right.   Mr. Stettin sourced and structured the loan with a national healthcare-focused bank and a participating regional bank. A major national healthcare developer was the borrower and built the community to include... Read More »
Carnegie Capital Secures Acquisition Financing For Washington State Portfolio

Carnegie Capital Secures Acquisition Financing For Washington State Portfolio

by | Jun 25, 2020 4:33 pm | Acquisitions, Financings

JD Stettin of Carnegie Capital is at it again, returning to the Pacific Northwest to close on acquisition financing for a portfolio of assisted living communities in Washington State. This closing comes just a couple of weeks after Mr. Stettin arranged $7.74 million in acquisition financing for four assisted living communities in rural Oregon. The details of that deal can be found here.  Back to Washington State, where the four other assisted living communities are located. Previously owned by Enlivant, they totaled 185 units, but the new owner, a private fund based in Arizona, will initiate a conversion project resulting in 193 units, split between 87 for assisted living... Read More »
Carnegie Capital Closes Two Financings

Carnegie Capital Closes Two Financings

by | Aug 3, 2018 7:00 am | Financings

Carnegie Capital showed its strength this month, announcing two loan closings in Georgia and Ohio. First, J.D. Stettin sourced and structured $10 million in bridge loans to fund the acquisition of two skilled nursing facilities and 177 beds in Macon and Warner Robins, Georgia (Atlanta MSA). The financing, which came with an interest-only term and no prepayment penalties, featured a loan-to-cost of 80%, so we have estimated the purchase price to be around $70,600 per bed. Then, Mr. Stettin refinanced a brand-new assisted living/memory care community in Cleveland, Ohio with a $16 million loan. A local community bank provided the original $9.5 million construction loan for the community,... Read More »