This covers all seniors housing and care acquisitions and financings handled by Lancaster Pollard and its affiliates.
Aaron Becker of Lancaster Pollard led the way in arranging an $11.9 million HUD refinance of a 54-bed skilled nursing facility in Pittsfield, Massachusetts. Owned and operated by long-standing Pittsfield-area not-for-profit organization, Berkshire Retirement Home, Inc., the facility was built in 2014 to replace Berkshire’s original SNF. Conventional bank financing, with a floating interest rate, […]
Lancaster Pollard announced two HUD refinances it closed on behalf of clients in Illinois and Oregon. First, Brett Murphy arranged an $11.2 million HUD loan for a 100-unit supportive living facility in McHenry, Illinois (Chicago MSA), which refinanced the original tax-exempt bond construction financing structured in 2007 and cut the ownership group’s debt cost of […]
Lancaster Pollard recently assisted The Ensign Group in a large $112 million portfolio financing arranged through HUD. The 30- and 35-year term loans were secured by mortgages on seventeen Ensign-owned properties and came with low, fixed interest rates. Ensign will use the loan proceeds to pay down previously drawn amounts on its revolving credit line, […]
Chad Elliot, Quintin Harris and Kevin Laidlaw of Lancaster Pollard represented the seller of a six-facility skilled nursing portfolio in Iowa. Owned by Hawkeye Care Centers, these six facilities total 551 beds, with three of the properties featuring a small assisted living or independent living portion. Quality mix was high (over 50%) and operating margin […]
The transactions keep on coming from Lancaster Pollard. After being revealed last month as the top HUD LEAN lender once again (with 79 transactions and nearly $770 million in volume during HUD’s fiscal year 2017), the firm has closed another two transactions on behalf of California-based borrowers. First, for Summit Healthcare REIT, Jason Dopoulos of […]
Total HUD LEAN loan volume hasn’t yet reached the heights of its FY2014, when the program closed over $4.2 billion in loans in 484 transactions, but it is getting there. In its FY2017, lenders closed just over $3.4 billion in 310 deals, up 20% from FY2016’s $2.84 billion volume (in 287 deals) and up 26% […]
Lancaster Pollard didn’t rest on its laurels for long. After HUD announced that Lancaster Pollard beat out all other HUD LEAN lenders in both number of transactions (79) and loan volume (nearly $770 million), the firm closed another HUD loan on behalf of Premier Senior Living. A group of seven of its senior care facilities […]
Mozart Healthcare is on the move in the Old Northwest. Last month, the company acquired a 145-unit mid-rise independent living community last month in Allen Park, Michigan (Detroit MSA), in a transaction led by Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors. Now, the firm, which is headed by Benjamin and Archie […]
Chris Blanda of Lancaster Pollard continued his work with Trilogy Health Services, recently refinancing a portfolio of 10 health campuses in Indiana with a $158.4 million HUD loan. Typical of many Trilogy-developed properties, this portfolio includes a mix of skilled nursing, rehab, assisted living, memory care and independent living units. The refinance comes with a […]
Griffin-American Healthcare REIT IV closed the first of two tranches for an eight-property seniors housing acquisition in Northern California, bringing the REIT’s total to 27 medical office and seniors housing properties since its first acquisition in June 2016. Located in high-barrier-to-entry markets in California, these communities were owned by affiliates of Nazareth Healthcare, Inc. and […]