This covers all news and financings involving Freddie Mac, in regard to the seniors housing and care industry.
A couple of seniors housing communities in western New York received Freddie Mac financing courtesy of KeyBank Real Estate Capital. Carolyn Nazdin of the firm’s Healthcare Group arranged two fixed-rate loans with 15-year terms and five-year interest-only periods. The first, at $45.8 million, was secured by a 162-unit community in Orchard Park. Built in 1992 […]
Private REITs may have taken a significant step back from their heady M&A days around 2014 and 2015, but one private REIT has been pursuing a growth strategy lately. Founded last February by George Chapman (former CEO of Health Care REIT, now Welltower), ReNew REIT (or ReNew Investors) now has 61 seniors housing communities and […]
Over five years on from its acquisition of a 217-unit independent/assisted living community in Tucson, Arizona, MBK Senior Living is exiting the asset with the help of Matthew Whitlock of CBRE. Originally built in 1991, the property underwent a series of multimillion-dollar renovations that included the conversion of 78 units to assisted living and the […]
The Walker & Dunlop team of Kevin Giusti, Michael Davis and Jeff Ringwald ran the agency gamut this month, closing one Freddie Mac, one Fannie Mae and one HUD loan, all totaling $42.6 million. W&D started with a $13.5 million refinance closed through Freddie Mac for a brand-new, 52-unit memory care community in Springfield, Oregon. […]
Fannie Mae and Freddie Mac came out with their 2018 multifamily loan production rankings, showing more than $143 billion in volume was closed across the two agencies. Compared with last year, that resulted in a 3% decrease for Fannie Mae but a 7% increase for Freddie Mac. That’s a lot of capital injected into multifamily […]
Berkadia combined both fixed and variable rate debt in their latest transaction closed on behalf of Brookdale Senior Living. Using Freddie Mac’s new Structured Pool Transaction program, Heidi Brunet and Lisa Lautner secured 10-year, non-recourse financing with a 30-year amortization schedule split between a $213 million fixed-rate component and a $114 million variable-rate component. Some […]
A high-end active adult community located in an affluent Denver, Colorado suburb successfully refinanced with the help of Leon McBroom of HFF. Working through Freddie Mac’s CME Program, Mr. McBroom secured $21.4 million in 10-year fixed-rate financing, which will be serviced by HFF. The property was developed in 2014 by McBroom Company and managed by […]
KeyBank Real Estate Capital has been on a roll lately, announcing financing after financing following their successful HUD fiscal year atop the rankings. Their latest closing saw Charlie Shoop and Peter Trazzera close a $31.5 million Freddie Mac loan on behalf of Chicago Pacific Founders to refinance the original balance sheet acquisition loan (also provided […]
One of Watercrest Senior Living Group’s success stories just reached stabilization and refinanced with the help of Chris Fenton of PGIM Real Estate Finance. Developed at an approximate cost of $17 million, or $191,000 per unit, in Sebastian, Florida, the 89-unit property opened in May 2016 and shot out of the gates in its lease-up, […]
Washington State-based senior living operator, Highgate Senior Living, refinanced two of its communities in the Pacific Northwest with the help of Grandbridge Seniors Housing and Healthcare Finance Group. Richard Thomas originated the Freddie Mac loans, which included an $8.5 million first mortgage for an assisted living/memory care community in Bellingham, Washington (about 30 miles southeast […]