• Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »

  • Public REIT Purchases Texas Class-A Seniors Housing

    by | Apr 23, 2024 3:56 pm | Acquisitions

    Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the... Read More »

  • Eads Sells Its 24th & 25th Missouri Community

    by | Apr 23, 2024 3:54 pm | Acquisitions

    Patrick Byrne of Eads Investment Brokerage facilitated the divestment of two seniors housing communities in Missouri. This marks the 24th and 25th communities sold in Missouri for Eads. The Moberly community (which we believe to be Mark Twain Assisted Living) comprises 35 assisted living/independent living units and sold for $2.57 million, or... Read More »

  • 60 Seconds with Swett: CMS Raises the Minimum Staffing Mandate

    by | Apr 23, 2024 3:48 pm | 60 Seconds

    On Monday, CMS came out with its final minimum staffing standards for nursing homes, but the eventual outcome is anything but final. Despite the outcry from nursing home providers from the previous proposed mandate of three hours per resident per day, asking simple questions like how can we pay for this and where will this newly needed staff come... Read More »

  • More Shareholder Activism

    by | Apr 22, 2024 9:04 am | Opinion

    Fresh from its success in getting two people voted onto the Ventas Board of Directors, Land & Buildings is at it again, this time with National Health Investors. Like all the REITs, NHI’s managers and tenants had their share of problems during the pandemic. Who didn’t? Most of these issues are behind it, but the REIT could be in even stronger... Read More »
Greystone Refinances Long Island SNF

Greystone Refinances Long Island SNF

by | Apr 30, 2021 9:32 am | Financings

Greystone’s HUD streak continues in the Northeast, following up on its refinance of a Yonkers, New York skilled nursing facility with a financing closed for a large skilled nursing facility on Long Island. Featuring 214 beds, the facility was originally built in 1972 on Long Island’s North Shore. It provides care for high-acuity, medically complex patients, with services ranging from cardiac care and post-surgery orthopedic rehab to physical and occupational therapy.   Fred Levine arranged a $17.3 million HUD loan through the agency’s Section 223(a)(7) program, thereby lowering the borrower’s interest rate and extending their amortization period. The borrower was also able to raise... Read More »
Greystone Secures Another HUD Refinance

Greystone Secures Another HUD Refinance

by | Apr 26, 2021 9:56 am | Financings

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

Two More HUD Deals From Greystone

by | Apr 23, 2021 9:39 am | Financings

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 Refinances Twin Cities Community

by | Apr 23, 2021 9:31 am | Financings

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 Strong Q1 Activity

by | Apr 14, 2021 8:55 am | Financings

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 »