• 60 Seconds with Steve Monroe: Record M&A Year, Again

    You may start to get tired of hearing us talk about all the records being set, but we will never tire of it. As of November 11, we have passed last year’s record of total acquisitions in the seniors housing and care sector, now standing at over 720 deals, according to LevinPro LTC. And we thought last year was an amazing year! The good news is... Read More »
  • Regional Owner/Operator Acquires in North Carolina

    A skilled nursing facility with 130 beds recently sold in North Carolina. It was 53% occupied and not stabilized at the time of sale. According to LevinPro LTC, the purchase price was one of the highest per-bed prices we have seen in the state, at $21 million, or $161,500 per bed. The seller, a North Carolina-based owner/developer that had owned... Read More »
  • Tennessee Community Trades in Receivership Sale

    Blueprint recently announced a few closings involving a prominent lender and special services seller. The first was in Raleigh, North Carolina, and was handled by Kyle Hallion, Kory Buzin and Steve Thomes. Buzin and Thomes facilitated the second deal, selling Knollwood Point in Mobile, Alabama. The pair also sold The Pointe at Kirby Gate in... Read More »
  • Northeast-Based Owner/Operator Expands in Georgia

    Daniel Geraghty, Bradley Clousing and Nick Cacciabando of Senior Living Investment Brokerage were engaged in the sale of a skilled nursing facility with 100 beds in College Park, Georgia. At the time of sale, the facility was operating at a loss. The seller was a national owner of long-term care and seniors housing assets across the country, and... Read More »
  • Provident Bank Funds Portfolio Refinance and Recapitalization

    Tom Cassidy of Provident Bank’s Healthcare Lending team provided funding to a regional owner/operator in the Southeast. The new client, a family business, secured a $29.84 million portfolio refinance and recapitalization of four stabilized seniors housing communities in Florida. The well-performing portfolio totals more than 250 units across a... Read More »
Harborview At It Again

Harborview At It Again

Harborview Capital Partners is back in the news, working on behalf of a Tennessee-based borrower to refinance its assisted living community in Putnam County, Tennessee. Avi Begun of Harborview originated a $6.34 million HUD loan, with a 35-year term, and took advantage of an early rate lock to generate savings for the community. Read More »
A Couple of Acquisition Loans From Harborview Capital Partners

A Couple of Acquisition Loans From Harborview Capital Partners

Harborview Capital Partners has been in the business of financing large acquisitions of senior care properties lately. Just last month, the firm arranged the sale and $37.4 million in HUD financing for a senior living portfolio in Arizona, and then days later, Harborview also sold a skilled nursing portfolio in Ohio and arranged a $20.7 million bridge loan to finance the deal. The team of Eli and Jonathan Kutner continued this impressive form in arranging a $20.71 million bridge loan to fund the acquisition of a skilled nursing facility in Westchester, New York (New York City MSA). The loan, provided by a national lender, featured a LIBOR-based rate and a three-year, interest-only term. In... Read More »
Another Bridge Loan Arranged By Harborview

Another Bridge Loan Arranged By Harborview

Eli Kutner, Senior Originator at Harborview Capital Partners, recently arranged a $36.3 million bridge loan to finance the purchase of two skilled nursing facilities in Nashville, Tennessee. Including both a senior acquisition loan, capex loans and an A/R line of credit, the financing features 12 months of interest only and partial recourse at 85% loan-to-cost. Mr. Kutner also arranged a competitive LIBOR+235 interest rate for all the loans. Well done. Read More »

Harborview’s Good Work

Harborview Capital Partners brought in SunTrust Bank to help refinance a portfolio of 19 senior living communities, with 917 units, located in Kentucky and Tennessee. Consisting of independent living, assisted living and memory care units, the communities are owned by Goodworks Unlimited, which operates a portfolio of 25 properties in TN and KY. Avi Begun and David Nussbaum of Harborview arranged a $68.3 million loan provided by SunTrust, featuring a five-year term and LIBOR+155 interest rate. That should position Goodworks well for future growth and expansion projects. Harborview has been quite busy the last few months, closing over 10 HUD and bank financings since November.... Read More »