• ESI Adds Capital Markets & Debt Advisory Team

    Evans Senior Investments has expanded its platform to now include a dedicated Capital Markets & Debt Advisory team to source debt solutions for its clients. Complementary to its brokerage/investment sales services and benefitting from Evans’ robust lender network, the new platform will facilitate acquisition financings, refinancings,... Read More »
  • Optimism across the Board in BBG’s Investor Survey Results

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with R.J. DeBee, Senior Managing Director – Seniors Housing & Healthcare National Practice Leader of BBG Real Estate Services, to discuss the biggest takeaways of BBG’s fifth Annual Investor Survey. Read More »
  • Lument Closes Freddie Mac Refinance

    Lument closed a $26.8 million Freddie Mac refinance for Treeo South Ogden, a 143-unit independent living community in Ogden, Utah, approximately 30 miles north of Salt Lake City. Tyler Armstrong, Chris Cain and Taylor Russ, all managing directors with Lument, led the transaction. Treeo South Ogden was purpose-built in 2015, and has been owned and... Read More »
  • Berkadia Handles Detroit-Area Deal

    Berkadia closed the sale of Oakleigh of Macomb, an 85-unit assisted living/memory care community in Macomb, Michigan (Detroit MSA). Built in 2019, the community has 55 assisted living and 30 memory care units. It was 91% occupied, so given its vintage and performance, we imagine it attracted significant investor interest. Berkadia represented the... Read More »
  • Developer Divests MC Communities to Kalesta Healthcare

    G Capital helped facilitate the sale of two memory care communities in Silicon Valley in an off-market transaction. Calson Management, a developer/operator based in Vacaville, California, had acquired Silver Oaks Memory Care in Menlo Park and Crescent Oaks Memory Care in Sunnyvale several years ago as value-add opportunities. The firm... Read More »
NorthMarq Closes Construction Financing in Cincinnati

NorthMarq Closes Construction Financing in Cincinnati

When at first you don’t succeed, try again. That was one borrower’s motto when a financing placement attempt fell through with one lender, so they decided to go to Noah Juran of NorthMarq to get the deal done. To fund the construction of a senior care facility on the borrower’s existing senior living campus in Cincinnati, Ohio, Mr. Juran secured an $18.2 million construction loan through Stearns Bank, plus $5.5 million of equity from an undisclosed source. The debt, which features a three-year, interest-only term, comes in at 64% loan-to-cost. That puts the development cost at $28.4 million, or $346,300 per unit. Set to open in either late-2020 or early-2021, the project will include a mix... Read More »
NorthMarq Hits the Mark

NorthMarq Hits the Mark

A seniors housing property in Mount Vernon, New York just refinanced with the help of Robert Ranieri, senior vice president and managing director at NorthMarq. Located on a 34-acre campus, the community features 31 units, including both one- and two-bedroom step-free townhomes. Each unit comes with a full kitchen and bathroom, in-home washer and dryer, large walk-in closets and a spacious four-season room. NorthMarq negotiated a $7.5 million refinance, with a seven-year term, fixed rate and 30-year amortization schedule, through PCSB Bank. In addition, the borrower received a renewal option that allows them to lower their rate and borrow funds for future development on the... Read More »
NorthMarq Finances Affordale Seniors Housing

NorthMarq Finances Affordale Seniors Housing

An affordable senior apartment community in Oxnard, California just refinanced with the help of Marty Meagher and Gardiner Champlin of NorthMarq’s San Diego office. Consisting of 101 units, the community received a $7.6 million loan from Fannie Mae, with a 10-year, interest-only term and a fixed interest rate. The financing paid off existing bond debt that was credit-enhanced by Fannie Mae. Management Innovations, Inc. operates the community, which features private patios or decks on most units, a recreation meeting room with fireside seeting, and a food service area. Read More »