Greystone Secures Another HUD Refinance
Last week, Greystone announced two HUD refinances for senior care clients and followed up with a third, this time to refinance a 174-unit Section 8 senior apartment community in Pomona, California. Shana Daby of Greystone handled the transaction on behalf of AMCAL, a developer of multifamily properties in California, Texas and Washington. The $29.9 million loan comes with a fixed interest rate and 35-year term and amortization. Loan proceeds in hand, AMCAL will be able to make capital improvements and set up a debt service reserve. They will also take some equity out. AMCAL originally built the community in 2002 with six mid-rise buildings, with elevators, offering both one- and... Read More »
Two More HUD Deals From Greystone
Greystone announced its latest HUD activity with two loan closings for senior care facilities. The larger deal saw Fred Levine arrange a $24.9 million refinance for a 120-bed skilled nursing facility in Yonkers, New York. Built in 2000, it offers a certified respiratory and ventilator unit and also provides a range of services including short-term rehabilitation, occupational, physical and speech therapy, amputee rehab, wound care, neuro-rehabilitation, certified cardiopulmonary rehabilitation, dedicated Alzheimer’s and dementia care units, as well as stroke and traumatic brain injury rehabilitation. L&A RE Acquisitions, LLC acquired the facility in 2015 for... Read More »
Dwight Capital Refinances Twin Cities Community
Dwight Capital provided a HUD refinance for a senior living cooperative in Richfield, Minnesota, a Twin Cities suburb. Built in 2000, the community features 157 units in 12 stories and sits on a 1.7-acre site. Amenities include a library, fitness room, hair salon, community room, grocery store, individual storage space and exterior gardens. Josh Sasouness of Dwight Capital originated the transaction on behalf of the undisclosed borrower, providing a $22.2 million, or $141,400 per unit, loan for the property. The debt replaces a previous HUD loan and extends the borrower’s term. Read More »
Dwight Capital’s Strong Q1 Activity
Dwight Capital’s first quarter is in the books, and it was an active three months for them to say the least. The firm financed $121.6 million across 12 transactions, including four HUD loans, seven bridge financings and one additional financing. Starting with the HUD deals, Dwight Capital first closed a $21.3 million loan for a 195-bed skilled nursing facility in Long Grove, Illinois. Built in 1996, the facility received a substantial renovation in 2016 and now includes a therapy gym, family lounges, spa and salon services, and sound proofing to promote rest. It last sold in 2016 to Cascade Capital Group for around $14.4 million, or close to $75,000 per bed. After the deal, Legacy... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
