This covers all HUD financing news.
After only being in operation since March, X-Caliber Capital’s bridge lending group had an impressive 2018, closing $250 million in healthcare and seniors housing financings. Those transactions included everything from acquisition financings and recapitalizations to value-add and cash-out refinances. Plus, the firm will look to bring all of these loans to HUD for a permanent […]
Lancaster Pollard Mortgage Company is keeping busy, having announced two transactions for senior care assets in the Midwest. First, Brad Competty, Casey Moore and Doug Harper closed a $42 million Fannie Mae loan with a 12-year term and fixed interest rate for a CCRC client. Mr. Competty and Brendan Healy followed that up with a […]
The Walker & Dunlop team of Kevin Giusti, Michael Davis and Jeff Ringwald ran the agency gamut this month, closing one Freddie Mac, one Fannie Mae and one HUD loan, all totaling $42.6 million. W&D started with a $13.5 million refinance closed through Freddie Mac for a brand-new, 52-unit memory care community in Springfield, Oregon. […]
As it continues to improve its capital structure and rationalize its lease exposure, Genesis HealthCare has joint ventured with Next Healthcare Capital to buy 15 skilled nursing facilities with 2,147 total beds previously leased from Welltower located in Pennsylvania (6), New Jersey (4), Connecticut (3), West Virginia and Massachusetts. Genesis will own a 46% stake […]
Over four years after acquiring a 105-bed skilled nursing facility in Baltimore, Maryland, its owner decided to refinance with the help of Tim Eberhardt and Erik Howard of Capital Funding. Part of a three-property portfolio, this facility was built in 1976 and enjoyed consistently strong operating results. The owner had built up equity at the […]
KeyBank Real Estate Capital headed back to the Bronx to take out a previous financing they had closed for a 199-bed skilled nursing facility. Built in 1994, this facility is subject to a ground lease with an unrelated third party. It was acquired a number of years ago by the borrower, Citadel Care Centers, thanks […]
A huge skilled nursing facility on Long Island, New York just refinanced through HUD, with the help of Fred Levine of Greystone. Totaling 588 beds, this facility provides clinical care, physical, occupational and speech therapies, amputee rehabilitation, and pulmonary, ventilator, cardiac and memory care. It also received multiple significant renovations to its five inter-connected buildings. In […]
Berkadia jumped out of the 2019 gates with four HUD closings totaling $40 million. Ed Williams secured the largest loan, $14 million in financing for a skilled nursing facility in Pennsylvania. The loan proceeds were used to retire existing bank and related partner debt for the borrower. Next, Mr. Williams and Jay Healy headed to […]
Five years after acquiring a 154-bed assisted living community in Park Ridge, Illinois, Cascade Capital Group (with Legacy Healthcare as its operating partner) is refinancing with the help of Capital One. Joshua Rosen originated the HUD loan, which totaled $15.1 million, came with a 35-year term and replaced conventional bank debt. In the years since […]
Illinois’ Lake County is getting a new post-acute/transitional care facility, helped by a $25.92 million HUD construction loan arranged by Aron Will and Mark Tran of CBRE. Innovative Health obtained the 40-year loan, which featured an 18-month construction period and was provided through CBRE’s HUD 232 direct lending program. Innovative’s new 185-bed facility will replace […]