• Public REIT Lands Portfolio in Competitive Sale

    A portfolio of Class-A seniors housing communities sold in the Southeast to an undisclosed publicly traded REIT. Featuring six assets in Georgia and South Carolina, the portfolio totaled 156 independent living, 200 assisted living and 70 memory care units. The communities were built between 2017 and 2022 by a Southeast-based developer. Occupancy... Read More »
  • Regional Owner/Operator Acquires Ocala AL Community

    The third and final asset in the Hampton Manor portfolio has sold with the help of Brad Clousing and Dan Geraghty of Senior Living Investment Brokerage. Hampton Manor Deerwood in Ocala, Florida, was built in 2005 and expanded in 2016 to now feature 61 units of assisted living. The property is stabilized, so the new owner can hit the ground... Read More »
  • Second Generation Operator Divests SNF Portfolio to PE Firm

    A Northeast-based private equity firm engaged Daniel Morris of Plains Commercial Real Estate in its plan to enter a new state. The firm has an existing skilled nursing footprint, and had specific acquisition criteria, which narrowed the focus down to a few potential targets.  The company ultimately acquired a five-facility, 506-bed skilled... Read More »
  • CIBC Springs Ahead with Deal Flow

    CIBC has been hard at work this Spring, successfully closing several acquisition financings for senior care clients across the country. The largest was a $51.5 million term loan that supported the purchase of four skilled nursing facilities in Illinois totaling 586 beds. Historical performance trended positively over the last two years across the... Read More »
  • National Healthcare Properties Kicks Off IPO Push

    National Healthcare Properties, Inc. launched its public offering of 38.5 million shares of its Class A common stock pursuant to a registration statement on Form S-11 filed with the SEC. The initial public offering price is expected to be between $13.00 and $16.00 per share, and the company expects to grant the underwriters a 30-day option to... Read More »
Greystone Closes Largest Healthcare CLO

Greystone Closes Largest Healthcare CLO

Greystone is having a productive final month of the year, closing a couple of transactions, including the largest-ever healthcare Collateralized Loan Obligation (CLO), Greystone CRE Notes 2021-HC2, Ltd., comprising Greystone bridge loans secured on healthcare properties. The $450 million offering marks the fifth commercial real estate CLO closed by Greystone and the second-ever comprised solely of healthcare assets. Greystone had also closed the second-largest healthcare CLO, a $300 million offering in 2018.  This latest collateral pool comprises 25 whole loans and three participations totaling $403 million that Greystone originated, secured by mortgages on 28 properties in... Read More »
Greystone Arranges Financing for Atlanta Community

Greystone Arranges Financing for Atlanta Community

Greystone arranged financing for a 193-unit seniors housing complex in Atlanta owned by Harbert Seniors Housing Fund I LP. Matt Miller of Greystone’s Senior Housing Capital Markets Team handled the transaction, which did not disclose loan amounts. However, a large regional bank provided the funds, which include a three-year term. The property, managed by an experienced regional operator, includes independent living, assisted living and memory care units across two construction phases, the second of which was completed in late 2020.  Read More »
Greystone Arranges Financing for Atlanta Community

Greystone Provides Refinancing For Atlanta Community

Greystone’s Senior Housing Capital Markets Team has provided refinancing for a 193-unit seniors housing community in Atlanta, Georgia. Matt Miller led the team, providing the financing on behalf of Harbert Seniors Housing Fund I, L.P. The transaction was closed with a large regional bank and has a three-year term.  The property, managed by an experienced regional operator, includes independent living, assisted living, and memory care units across two construction phases, the second of which was completed in late 2020. This community offers a range of independent living unit configurations, and features a heated pool, walking gardens, fitness center, salon & spa, library, theater,... Read More »
Greystone Arranges Financing for Texas Community

Greystone Arranges Financing for Texas Community

Greystone’s Tyler Armstrong originated a $28.3 million loan to refinance a 96-unit seniors housing community in North Richland Hills, Texas owned by StoneCreek Real Estate Partners. The Freddie Mac Optigo non-recourse financing has a 10-year term, 30-year amortization schedule and five-year interest-only period. With it, StoneCreek will take out a $15.6 million construction loan provided by Origin Bank in 2017. Built in 2019 and operated by Civitas Senior Living, StoneCreek of North Richland Hills provides independent living, assisted living and memory care units across its five-acre property. Despite opening just a couple of years ago, it already boasts an occupancy of 98%. Units range... Read More »
Greystone Secures Construction Financing For Missouri Project

Greystone Secures Construction Financing For Missouri Project

Greystone’s Matt Miller and Tyler Armstrong secured a $35.9 million construction loan on behalf of a joint venture between Shelbourne Healthcare and Cedarhurst for the new development of Shelbourne at Chesterfield in Chesterfield, Missouri. The 8.2-acre lot was acquired by Shelbourne Healthcare in 2018 for $4.4 million. The 150-unit senior housing development will contain 96 independent living units, 37 assisted living units and 17 memory care units. There will be studio, one- and two- bedroom options. The Greystone Senior Housing Capital Markets team facilitated the financing, which includes a five-year loan funded by a large regional bank. Moseley Architects is designing the... Read More »