• Berkadia Announces Array of Closings

    Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the... Read More »
  • Tremper Capital Group Closes Several Financings

    Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area.... Read More »
  • Upstate New York SNF Trades Between Not-for-Profits

    Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995.  Apparently, the facility... Read More »
  • Acquisition Financing Closed for Distressed California Community

    Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the... Read More »
  • Developer and Operator Secure Construction Financing

    Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is... Read More »

Capital Healthcare Investments Doubles In Size

Capital Healthcare Investments (CHI), a wholly-owned subsidiary of MTGE Investment Corp., a publicly traded hybrid REIT, has purchased a portfolio of nine skilled nursing facilities in Virginia with about 1,050 beds. The transaction almost doubles the size of CHI’s portfolio, which now includes 14 skilled nursing facilities and six mostly assisted living/memory care communities. The purchase price was $130 million, or close to $124,000 per bed. Why the high price? The average age is just 15 years and the occupancy is in the low 90s. Five of the nine properties were built in the past 10 years. The facilities will be leased back to the seller under a 15-year lease with two five-year renewals... Read More »