KeyBank and Capital Health Group Team For Success
KeyBank Real Estate Capital pulled doubly duty for its client, Capital Health Group (CHG), in arranging an acquisition loan to fund the company’s purchase of three senior living communities in southeastern Pennsylvania, and then turning around to refinance the loan through multiple Fannie Mae financings. This is not the first we have heard of CHG’s most recent acquisition. Announced in January, the sale of the Keystone Villa Portfolio was arranged by Toby Siefert, Brad Clousing and Jeff Binder of Senior Living Investment Brokerage. The three properties, located between Harrisburg and Philadelphia, were developed by the selling entity, a group of local operators in Pennsylvania looking to... Read More »Berkadia Serves Up Agency Financings
Berkadia’s Seniors Housing and Healthcare team, led by Chris Honn, has been working at a furious pace since the end of last year, closing $288 million in financings in the past two months. First up on the agency side, Berkadia arranged a $36.7 million Freddie Mac loan, with a 10-year fixed-rate term, for a recently stabilized 131-unit independent living community in Birmingham, Michigan. Through Fannie Mae, the team also closed a $98 million, seven-year loan (with a fixed rate) on behalf of the owners of a 605-unit entrance-fee CCRC in Florida who were looking to cash out their equity. For a portfolio of five skilled nursing facilities, and 222 beds, in Arizona, Colorado and Utah, Berkadia... Read More »
Lancaster Pollard’s Transaction Triple
The team at Lancaster Pollard posted a trifecta of Fannie Mae/HUD transactions across the middle of the country. The largest of the three, an $11 million Fannie Mae loan with a 10-year fixed-rate term, was arranged for an assisted living/memory care community in Omaha, Nebraska. The community had existing Fannie Mae debt, at a higher interest rate, but was in need of repairs and renovations. Quintin Harris arranged the transaction, which provided $3 million in new money for the renovation project. Then Kyle Hemminger closed a Fannie Mae loan for a three-year old, 48-bed memory care community in the Houston area that is owned by a Texas-based operator. That was the second Fannie Mae closing... Read More »
Senior care campus gets HUD and Fannie Mae financing
One size didn’t fit all at a senior care campus in Boise, Idaho when it decided to refinance its existing debt through two lending agencies: HUD and Fannie Mae. The property, which comprised a skilled nursing facility and an independent/assisted living community, had a single existing mortgage, but required two different lenders to fund two separate loans. So Walker & Dunlop secured a 10-year $20.8 million Fannie Mae loan for the seniors housing community, which was built in 1992 with 142 independent living and 51 assisted living units. Then, for the skilled nursing facility, Walker & Dunlop arranged a $9 million HUD mortgage with a 35-year term. Built in 1986, the facility... Read More »Schedule a demo
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