Greystone Closes $204 million in Q4
As 2016 was winding down, Greystone’s seniors housing lending group was heating up, closing $204 million in financings. In the last quarter of the year, Greystone demonstrated its financial range, including Fannie Mae, HUD, bridge, mezzanine and national bank loan transactions for acquisitions, refinancings and the new construction of nearly 1,700 seniors housing and multifamily units. In the fourth quarter, the lending team, led by Scott Kavel, Neal Raburn and Cary Tremper, arranged $138 million in Fannie Mae financing, including a $48.5 million refinance for an entrance fee CCRC in the Tampa MSA. Greystone also closed $55 million in financing for three Oakmont seniors housing properties... Read More »Cambridge Realty Capital On a Roll
When it rains, it pours for Cambridge Realty Capital Companies, which announced a succession of three loan closings throughout the middle of the country. First up, the firm arranged $5.32 million in 24-year HUD financing for a Missouri LLC to refinance its 114-bed skilled nursing facility in Crystal Lake, Illinois. Then, down to Kansas City, Missouri, a 162-bed facility owned by a Missouri limited partnership also refinanced with a $4.02 million 25-year HUD loan. These closings come a month after Cambridge worked with Aron Will of CBRE to secure $30 million from a national bank to refinance a portfolio of four seniors housing communities in the El Paso, Texas area. Managed by 12 Oaks... Read More »
Becker serves up refinancing
Aaron Becker of Lancaster Pollard refinanced a portfolio of six skilled nursing/rehab facilities located throughout Connecticut (5) and Rhode Island (1), with the help of HUD. The borrower is Apple Rehab, a CT-based provider of short-term rehab services with 25 locations. For the six facilities (which total 517 beds), Apple received six loans totaling $40.7 million, all with 30-year terms and low, fixed interest rates. The refinancing provides significant debt service savings and increases Apple’s replacement reserves. Read More »
