Harborview Handles Three Financings And A Sale
The team at Harborview Capital Partners closed several transactions for senior care facilities before the end of the year. First, David Nussbaum and Eli Kutner advised on the sale and arranged acquisition/construction financing for a hotel in Fishkill, New York to be converted to a 200-bed assisted living community. The $10.7 million loan came with a three-year, interest-only term and five-year perm option with a rate of LIBOR+325. Next, Mr. Nussbaum originated a $23.9 million loan to refinance a 193-bed assisted living community in Brooklyn, New York. The non-recourse loan came with a 30-year amortization and 10-year term. Finally, Ephraim Kutner and Jonathan Kutner... Read More »
Lument Secures HUD Refinance For Michigan Senior Care Campus
Lument recently helped Advantage Living Centers refinance its 67-bed senior care facility in Armada, Michigan. Set on a 33-acre campus, the 55-year-old facility provides skilled nursing, rehabilitation and memory care, and is the preferred provider for both Henry Ford and McLaren Macomb hospitals. It is one of 11 facilities that Advantage Living Centers owns and operates in the state. Brad Competty of Lument’s Columbus, Ohio office and Adam Walter of the Overland Park, Kansas office led the $10.8 million HUD refinance, which took out existing bank debt that Advantage Living Centers used to acquire the property in... Read More »
Greystone Arranges Trio of HUD Refinances
Greystone refinanced a trio of assisted living communities in New Hampshire with three HUD loans totaling $23.8 million. Located throughout the southern part of the state in Manchester, Bedford and Nashua, the communities are owned by The Courville Company and represent the company’s entire seniors housing portfolio (they also own a skilled nursing facility in Nashua). There are more than 150 assisted living units across the communities. Lisa Fischman of Greystone originated the interest rate reduction transaction, which lowered the interest rates on the existing HUD loans while maintaining the existing maturity and loan amount. Read More »
Blueprint Arranges Utah Seniors Housing Exit
A Pacific Northwest-based ownership group decided to divest its only seniors housing community in the state of Utah, working with Giancarlo Riso, Amy Sitzman and Jacob Gehl of Blueprint Healthcare Real Estate Advisors to get the deal done. The well-maintained community was built in 1999 about 10 miles east of Park City. It features 32 assisted living and 10 memory care units, with historically consistent operations. However, there are some immediate value-add opportunities for the new owner, which is based in Salt Lake City, has an existing portfolio in the state and should be able take advantage of some economies of scale. Blueprint helped arrange the sale and assumption of the in-place... Read More »Schedule a demo
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