• Greystone Closes Large CLO

    Greystone closed a large collateralized loan obligation (CLO) composed solely of healthcare assets. Greystone CRE Notes 2025-HC4, LLC is a $451.6 million commercial real estate CLO backed exclusively by bridge loans provided by Greystone. The transaction marks the firm’s eighth overall CRE CLO and the industry’s fourth-ever CRE CLO composed... Read More »
  • Fortress Investment Group Divests Arizona Asset

    JLL Capital Markets has closed the sale of Inspira Arrowhead, a 165-unit seniors housing community in Glendale, Arizona. The community was under the ownership of Fortress Investment Group funds for just 18 months, but in that time occupancy rose from 89% to 94% and NOI improved by 35%. Fortress bought the asset in April 2024 in a joint venture... Read More »
  • Stacked Stone Makes Another Acquisition

    Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, followed up on its October acquisition in Oklahoma with the purchase of two assisted living/memory care communities in Illinois, near the St. Louis MSA. Similar to the Oklahoma deal, Stacked Stone has made Illinois acquisition in a joint venture with the private equity... Read More »
  • Blueprint Handles Large SNF Deal in Pennsylvania

    Not-for-profit to for-profit are not easy, and it took a two-year process for Blueprint to successfully close the sale of a 250-bed skilled nursing facility in Philadelphia, Pennsylvania. The property appears to be Cheltenham Nursing & Rehabilitation, one of three skilled nursing facilities owned by Dublin, Ohio-American Health Foundation... Read More »
  • JDI Realty Buys Alpharetta Asset

    A partnership recently acquired Chapters Living of Alpharetta, a 79-unit assisted living/memory care community in Alpharetta, Georgia (Atlanta, MSA). Built in 2013, the high-quality community was previously known as Addington Place of Alpharetta. JDI Realty, in partnership with Purity Strategies and Chapters Senior Living, bought the community... Read More »
Berkadia Refinances Wisconsin Seniors Housing Community

Berkadia Refinances Wisconsin Seniors Housing Community

Berkadia took out bank debt on a seniors housing community in Appleton, Wisconsin with a new Freddie Mac financing. Chris Cain arranged the transaction on behalf of the community’s Oregon-based owner/operator, Touchmark.  In operation for around 40 years, the community provides independent living, assisted living and memory care services, which were added in a recent $25 million, 48-unit expansion project that also saw renovations made to the existing building. The bank loan that helped bank roll that project has now been replaced with a $32.3 million Freddie Mac loan, with a 10-year term and five years of interest only at 70% loan-to-value. Touchmark was also able... Read More »
Greystone Finances AL/MC Community Through Freddie Mac

Greystone Finances AL/MC Community Through Freddie Mac

Greystone’s Seniors Housing Capital Markets team recently provided a $27 million Freddie Mac loan to refinance an assisted living/memory care community in the southwestern United States. Featuring 69 units, it is owned by Harbert Seniors Housing Fund I and operated by an experienced seniors housing provider. The loan came with a 10-year term.  Read More »
Northmarq Refinances Washington State Seniors Housing

Northmarq Refinances Washington State Seniors Housing

Northmarq’s Stuart Oswald, senior vice president and managing director of the firm’s Seattle office, arranged a $35 million refinance of a 136-unit senior living community in Tacoma, Washington. Built in phases from the 1980s to the 1990s, the community provides independent living, assisted living and memory care services in a combination of 61 studios, 33 one-bedroom units, five two-bedroom units and 37 units dedicated to memory care. A family has owned and operated it since opening, with the third generation now in charge, and operations have been consistently strong, even during the pandemic. Occupancy was in the 90% range.  Northmarq originally refinanced the property... Read More »
PGIM Closes Freddie Mac Financing For Colorado Community

PGIM Closes Freddie Mac Financing For Colorado Community

A Denver-area senior living community refinanced with a Freddie Mac loan arranged by PGIM Real Estate. Spectrum Retirement Communities developed the community in 2009 and has been operating it ever since. It currently features 130 independent living, 60 assisted living and 18 memory care units. Amenities include a beauty sale, bistro, fitness center, lounges and a movie theater.   To take out a previous PGIM loan, Trace Wilson, who led the transaction on PGIM’s behalf, secured a $60 million loan with a 10-year term, five years of interest only and a 30-year amortization period. There was also a floating rate.  Read More »
CBRE Refinances Stabilizing Seniors Housing Portfolio

CBRE Refinances Stabilizing Seniors Housing Portfolio

CBRE refinanced a portfolio of three seniors housing communities owned by a joint venture between LCS and Nuveen Real Estate, an affiliate of the investment management arm of TIAA. These communities feature a combination of assisted living and memory care, with 328 units in total.   Developed by a not-for-profit in 2017 and 2018, they were acquired by the joint venture in 2018 as part of a seven-property portfolio that included four other stabilized communities around the Louisville and Indianapolis MSAs totaling 360 units of assisted living and memory care. The deal represented one of the first large-scale investments in the joint venture’s $300 million capital raise, which CBRE... Read More »