• PE Partnership Divests to a Publicly Traded REIT

    by | May 14, 2024 3:27 pm | Acquisitions

    Senior Living Investment Brokerage was brought on by a partnership in its divestment of an assisted living/memory care community in Freehold, New Jersey. The partnership was between Stephanie Anderson and Steve Walling, known as SilverStone HCRE, and a private equity group located in the west. During their ownership, NOI increased significantly,... Read More »

  • M&M Negotiates Lease, Purchase Option and Key Money

    by | May 14, 2024 3:25 pm | Acquisitions

    Nick Stahler and Austin Diamond of the Knapp-Stahler Group at Marcus & Millichap facilitated a lease-with-purchase-option transaction for a dually certified, 120-bed skilled nursing facility in the Dallas-Fort Worth area. The pair was also able to negotiate $500,000 of key money from the incoming operator for the landlord, a rarity in Texas... Read More »

  • Cain Brothers Secures Refinancing for New York Asset

    by | May 14, 2024 3:24 pm | Financings

    Cain Brothers advised FilBen Group on a $30.67 million HUD refinancing for Wallkill Realty Partners (dba Braemar at Wallkill), an assisted living community in New York. The proceeds on the loan will be used to refinance The Orange County Funding Corporation Assisted Living Residence Revenue Bonds, Series 2012, providing a long-term, fixed-rate... Read More »

  • 60 Seconds with Swett: The Current Lending Environment for Senior Care Properties Q&A

    by | May 14, 2024 3:22 pm | 60 Seconds

    The higher cost and scarcity of capital has made getting just about any deal done that much more difficult, from an M&A transaction to a refinancing to a new construction project. We know that we don’t need to tell most of you that. But we also know that right now is a great time to buy, that it may be the time to commence construction, and... Read More »

  • Sonida Senior Living On The Move

    by | May 13, 2024 2:37 pm | Acquisitions, Opinion

    It has taken a while, and a lot had to be done to strengthen the balance sheet over the past two years, but Sonida Senior Living is now on a path of growth, and recent announcements have shown it.  On May 9, the company closed on its first acquisition of the year with the purchase of a 100-unit assisted living and memory care community in... Read More »
Greystone Closes Two Freddie Mac Financings

Greystone Closes Two Freddie Mac Financings

by | Oct 31, 2019 3:24 pm | Financings

Greystone ended October with a couple of varied transactions. First, Cary Tremper facilitated a Freddie Mac $43.98 million loan to support the acquisition of a 207-unit senior living community in Daly City, California (San Francisco MSA). The loan was originated on behalf of the borrower, Senior Resource Group and Welltower. Built between 2008 and 2011, the community has been managed by SRG since 2012. It offers independent living and assisted living units. Then, if seniors housing has an affordability problem, then maybe age-restricted manufactured housing communities are part of the solution. To that end, Greystone arranged a $33.7 million Freddie Mac loan to refinance one of those... Read More »
Greystone Announces Three Financings and One New Hire

Greystone Announces Three Financings and One New Hire

by | Oct 9, 2019 6:00 am | Financings

Running the agency gamut at the start of October, Greystone announced three financings it closed through Fannie Mae, Freddie Mac and HUD. First up, the firm refinanced an independent living community in Pearland, Texas (Houston MSA) with a 10-year, $37 million Fannie Mae loan. Cary Tremper originated the transaction on behalf of Integrated Real Estate Group (IREG) and their operating affiliate Integrated Senior Lifestyles. IREG opened the community in 2017, with 214 units that include one-bedroom, two-bedroom and three-bedroom options, plus eight villas. There are also a host of a la carte services and amenities. Development cost reached $35.1 million, or $158,100 per unit. Then, Greystone... Read More »
Newmark Knight Frank Closes Three Varied Transactions

Newmark Knight Frank Closes Three Varied Transactions

by | Oct 8, 2019 3:22 pm | Financings

The Newmark Knight Frank debt origination team has been hard at work this year, closing $1.6 billion in new financings so far this year. Heidi Brunet, who joined this April, and Chris Johnson handled a Freddie Mac financing for a newly built independent living community in Aurora, Colorado. The 10-year, fixed-rate, pre-stabilized loan totaled $43 million. Ms. Brunet and Laura McDonald of Protective Life also refinanced two assisted living/memory care communities in Virginia and Pennsylvania with a $43 million loan. An experienced owner/operator opened these communities in June of this year. Finally, Sarah Anderson of Newmark arranged acquisition financing for two AL/MC communities in Boca... Read More »
GFH Capital Gets Financing From Greystone

GFH Capital Gets Financing From Greystone

by | Aug 15, 2019 8:29 pm | Financings

Last month, Dubai-based private equity firm GFH Capital jumped into the senior living market in a big way, acquiring a group of six properties for a total purchase price over $180 million. Now, Greystone has announced that it provided a total of $115 million in Freddie Mac and Fannie Mae Shariah-compliant financing to support the acquisition. Cary Tremper originated the financing on behalf of GFH (which will own 91% of the portfolio) and Washington, D.C.-based real estate investment firm Madison Marquette, which is acquiring another 6%. JEA Senior Living, Senior Resource Group, two of the three operating partners GFH has selected to manage the communities, have also each co-invested in... Read More »
KeyBank Closes Second Refinance for Danbury Senior Living

KeyBank Closes Second Refinance for Danbury Senior Living

by | Aug 13, 2019 2:11 pm | Financings

KeyBank Real Estate Capital just closed its second Freddie Mac loan for Danbury Senior Living to refinance another seniors housing property Ohio. A year ago, KeyBank had worked with Danbury to arrange a $14 million refinance for its 105-unit community in Wooster. Fast forward to today, and the firm secured a $14.5 million Freddie Mac financing for Danbury’s 101-unit seniors housing property in the town of Tallmadge. Built in 2016, the community provides independent living, assisted living and memory care services. Lee Delaveris from KeyBank arranged the transaction. Read More »