This covers all HUD financing news.
Dwight Capital got a HUD financing closed in West Jordan, Utah (Salt Lake City MSA). The target was a Beehive Homes community built in 1996 and 2007 on over 1.5 acres. It currently consists of 50 beds in 50 units and is located less than a mile from Jordan Valley Medical Center. The license allows […]
One thing to come out of the coronavirus crisis (among many things) has been record-low interest rates, with the 10-year Treasury yield falling as low as 0.318% on March 9 and the federal funds rate being cut to 0-0.25%. It has been in the federal government’s interest to maintain liquidity in the market, as much […]
Berkadia announced two financings for a total of eight senior care properties. The first transaction saw the firm close a $15.25 million bridge loan for the acquisition of seven skilled nursing facilities located throughout the Midwest. Comprised of 426 operating beds, the portfolio was acquired by a first-time client of Berkadia’s. They obtained a two-year, […]
As the hordes descended on San Diego for the Spring NIC conference, we soon learned that hotel rooms suddenly became available at the last minute. Why? Cancelations and no shows, perhaps 10% to 15%, as fears of the coronavirus spread. Larger conferences in the next several weeks have been canceled. For those of us braving […]
The Regions Bank Healthcare Real Estate Team and Regions Capital Markets had quite the Q4, closing more than $121.4 million in balance sheet and agency loans. First, to HUD, Jack Boudler of Regions secured a $4.57 million loan to fund the addition and renovation of a small skilled nursing facility in the Midwest. The facility […]
Greystone provided HUD financing to a portfolio of five skilled nursing facilities in the eastern part of Pennsylvania. The 622-bed portfolio, located in Easton, Millville, Orangeville and Stevens, was acquired by Maybrook Holdings in 2017 for an undisclosed price. Whatever changes were made or renovations were completed must have worked out, as Maybrook sought out […]
Greystone Healthcare Management Corp. formally took over ownership of a portfolio of 13 senior care facilities in Illinois and Missouri, and entered two new states as a result. Before February 3, the skilled nursing owner/operator managed over 30 long-term care and rehab facilities, all in Florida. But it has expanded into two new states in […]
Refinancing a complicated capital stack, PGIM Real Estate Finance secured a $10.7 million HUD loan for a 112-bed skilled nursing facility in New Orleans, Louisiana. The facility was built by the not-for-profit St. Margaret’s Foundation in 2013 on the site of the former Lindy Boggs Medical Center, which was devastated by Hurricane Katrina in 2005. […]
The team at X-Caliber Capital has been putting in the hours lately, with three bridge loans and a HUD refinance to show for the hard work. First, the firm closed a $40 million bridge loan, with a three-year term, for an undisclosed borrower to acquire a 10-facility, 700-bed skilled nursing/assisted living portfolio in Illinois. Next, […]
KC Peterson of PM Advisors successfully closed a HUD refinance of a 30-unit/36-bed assisted living community in Sutherlin, Oregon. Built in 1996 and in good condition, the community was owned and operated by an established group in the state. They had originally financed the community with bonds that contained an affordability period for 20% of […]