• Diversified Healthcare Trust Raises Expensive Debt, Ventas Makes Cuts

    Diversified Healthcare Trust Raises Debt Diversified Healthcare Trust tapped the debt markets with a $1.0 billion, five-year senior note offering with a yield of 9.75%. That puts the spread over the 5-year Treasury at about 940 basis points. That has to be the widest spread by a healthcare REIT we have seen in years, if not a decade or two.... Read More »
  • Carnegie Capital Announces Latest Closings

    JD Stettin of Carnegie Capital has certainly had his hands full recently, having closed a couple of refinances in the Pacific Northwest, no easy task in the early days of COVID-19, we’re sure.   Mr. Stettin first sourced and structured a cash-out refinance of a 60-unit memory care community near Eugene, Oregon. Featuring a roughly 50-50 mix of... Read More »
  • PGIM Refinances Tennessee Senior Living Community

    PGIM Real Estate announced its latest transaction, with Executive Director Chris Fenton leading the way. It involved a $10.6 million HUD refinance of a senior living community in Ashland City, Tennessee. Built in 2015 with 100 beds in 80 units, the community provides assisted living and memory care services in a four-story building.   Thunderhawk... Read More »
  • Greystone Arranges HUD Construction Debt

    Working through HUD, Lisa Fischman of Greystone facilitated construction financing for an assisted living community to expand its Buffalo, New York-area campus. Originally built in 2003 with 110 beds in 84 units, the community is located on a 20-acre campus. Onsite amenities including a theater, physician’s office and beauty salon certainly... Read More »
  • Genesis HealthCare’s Shares Double in Value

    Leading up to Genesis HealthCare’s first quarter earnings release and conference call, the company’s share price took off. The rise started on May 22 when it jumped by 22% on high volume, but then it added another 35% on volume that was 10 times the average. In the course of four days, the price more than doubled, from $0.63 per share to $1.37... Read More »
Greystone Announces Three Financings and One New Hire

Greystone Announces Three Financings and One New Hire

Running the agency gamut at the start of October, Greystone announced three financings it closed through Fannie Mae, Freddie Mac and HUD. First up, the firm refinanced an independent living community in Pearland, Texas (Houston MSA) with a 10-year, $37 million Fannie Mae loan. Cary Tremper originated the transaction on behalf of Integrated Real Estate Group (IREG) and their operating affiliate Integrated Senior Lifestyles. IREG opened the community in 2017, with 214 units that include one-bedroom, two-bedroom and three-bedroom options, plus eight villas. There are also a host of a la carte services and amenities. Development cost reached $35.1 million, or $158,100 per unit. Then, Greystone... Read More »