• Interview with Arnie Whitman and Meredith Oppenheim on VITALS

    The SeniorCare Investor’s Ben Swett recently sat down with Meredith Oppenheim and Arnie Whitman to discuss their new framework for seniors housing operators to improve the quality of life for their residents, but also to position the sector for greater success and wider appeal in the future. Watch the conversation here. Read More »
  • Michigan-Based Owner/Operator Expands in Tampa MSA

    American House Senior Living Communities added Beach House Assisted Living & Memory Care in Wesley Chapel, Florida (Tampa MSA), to its operating portfolio and renamed the property American House Wesley Chapel. The community features 67 assisted living and 33 memory care units with studio, one- and two-bedroom floor plans, some with balconies... Read More »
  • Seniors Housing Community Near Chicago Gets New Owner

    SVN Chicago Commercial sold McKenzie Falls, an affordable seniors housing community in Bolingbrook, Illinois, roughly 30 miles southwest of downtown Chicago. The building was constructed in 2010 and spans 74,047 square feet across one story.  An undisclosed buyer acquired the 105-unit community for $6.7 million, or $63,800 per unit. Reid... Read More »
  • Healthpeak Properties Provides Janus Living Updates

    Healthpeak Properties’ recently formed seniors housing REIT, Janus Living, which will manage Healthpeak’s 34-community seniors housing portfolio, has filed a registration statement on Form S-11 with the SEC relating to a proposed initial public offering of its shares of Class A-1 common stock, which the company intends to list on the NYSE under... Read More »
  • SLIB Handles Senior Care Campus Deal in Missouri

    A Maryland-based owner/operator looked to expand its Missouri senior care portfolio with the purchase of Kingdom Care Senior Living in the town of Fulton. Built in 1980, the campus includes four independent living units, 26 assisted living units and 36 skilled nursing beds. It currently holds a five-star rating at the SNF and is the only... Read More »
The HUD LEAN Rankings Are In

The HUD LEAN Rankings Are In

Another HUD fiscal year gone, and another set of familiar names rose to the top of LEAN loan production rankings. In terms of transactions closed, Greystone came in first place with 71 transactions, or more than double its next competitor. Not surprisingly, with that high level of activity, Greystone also had the highest dollar volume, with $888.88 million in total mortgages. This follows the firm’s first-place finish in HUD’s FY2020 as well, so they are on a hot streak. Housing & Healthcare Finance (HHC Finance) took second place for transactions closed and dollar volume, with 35 and $552.87 million, respectively. We got glimpses of HHC Finance’s activity throughout the year, and the... Read More »
Berkadia Secures HUD Financing for Three Communities

Berkadia Secures HUD Financing for Three Communities

Berkadia announced three HUD financings for communities in Texas, Washington and Montana, totaling $20.6 million.  The first loan, secured by Jay Healy, totaled $11.19 million and was arranged for a Texas-based not-for-profit organization to refinance its 128-unit Medicaid assisted living community in Texas. The loan carries a low-2% interest rate and ultimately retired the existing construction and mezzanine debt tied to the project. This income-restricted community was constructed in 2015, with occupancy hovering around 90% during the time of the underwriting. Ed Williams arranged the second transaction, which consisted of two loans. The first was $6.26 million refinance of a 36-bed... Read More »
The HUD LEAN Rankings Are In

HHC Finishes September With Several HUD Refinances

Housing & Healthcare Finance (HHC Finance) is having a strong September, closing another $58 million in HUD refinance loans. The transactions included a $42 million loan for a 260-bed skilled nursing facility followed by $11 million in financing for a 100-bed skilled nursing facility. Both facilities are located in southern California, and the two HUD loans refinanced substantially higher rate conventional debt while also providing the experienced regional owner with longer-term financing.  HHC Finance followed those closings with a $5 million HUD refinance for a 70-bed skilled nursing facility located in Missouri. Elan Magence, Senior Vice president at HHC Finance, originated all... Read More »
Affordable Projects Spring Up Across the Country

Affordable Projects Spring Up Across the Country

Several developments and financings have been announced recently in the affordable seniors housing market, following a common theme that this sector is fast gaining investor attention. AHEPA Affordable Housing Management Company, Inc. is receiving an $8.86 million HUD loan to facilitate the development of 100 new affordable housing units in Des Moines, Iowa. That funding is part of the portion of the Build Back Better Act that is projected to bring more than $1 billion in affordable housing investments to Iowa. Across the country, MassHousing provided a $23.5 million loan for the expansion of Golda Meir House in the Boston suburb of Newton. Built between 1978 and 1995 and renovated in... Read More »
The HUD LEAN Rankings Are In

HHC Finance Wraps Up HUD’s FY21

Housing & Health Finance (HHC Finance) is finishing up HUD’s fiscal year 2021 with a few transactions. First, the firm closed a $13 million refinance of an existing HUD loan for a 200+ bed skilled nursing facility in Illinois. In the transaction, HHC Finance substantially lowered the interest rate.  HHC Finance also closed on a new $8 million HUD loan for a 90-bed skilled nursing facility in northern California. Lastly, the firm added to its tally of loan modifications for the year by lowering the interest rate on a $4 million loan for one of its clients.  Read More »