• PGIM Divests Two Arizona Assets

    by | Jan 23, 2026 3:42 pm | Acquisitions, Financings

    JLL’s Seniors Housing Capital Markets team completed the sale and financing of three assets across two separate deals. First, it announced that it sold The Watermark at Morrison Ranch in Gilbert, Arizona, and Acoya Mesa in Mesa, Arizona. Both communities were stabilized at the time of the deal. JLL marketed the portfolio on behalf of the seller,... Read More »

  • Underperforming Asset Trades in California

    by | Jan 23, 2026 3:39 pm | Acquisitions

    A seniors housing community in Vacaville, California, sold with the help of Nick Stahler and Chad Mundy of The Knapp-Stahler Group at Marcus & Millichap. At the time of LOI, the asset was underperforming and financially strained. Built in 2004, it features more than 80 assisted living and memory care units and is licensed for over 90 beds on... Read More »

  • Communities Sell in California and Missouri

    by | Jan 23, 2026 3:08 pm | Acquisitions

    Haven Senior Investments closed a deal right before year-end and announced a couple of others from the preceding months. First, an assisted living community was facing a hard closing deadline, with a 30-day escrow and commercial loan that would have been canceled if the transaction did not close by December 31. Rebecca Van Wieren and Scott Fuller... Read More »

  • Cambridge Provides HUD Construction Financing

    by | Jan 23, 2026 3:07 pm | Developments, Financings

    Cambridge Realty Capital provided $6.5 million in construction financing for a 20-bed memory care addition to The Pointe at Pontiac, an existing 60-bed supportive living facility in Pontiac, Illinois. The borrower is an Illinois limited liability company. The financing is insured by HUD under its Section 241(a) program and will be used to fund... Read More »

  • SNF Portfolio Receives Bridge Financing

    by | Jan 23, 2026 3:05 pm | Acquisitions, Financings

    MONTICELLOAM, along with firm affiliates, provided $60 million in bridge financing to a five-facility skilled nursing portfolio in Illinois. The two-year loan was originated by Karina Davydov. The returning healthcare client, who operates over a dozen skilled nursing facilities in Illinois, will use the loan proceeds to acquire the portfolio,... Read More »
PGIM Refinances Senior Care Facility Debt in Ohio

PGIM Refinances Senior Care Facility Debt in Ohio

by | Jul 23, 2021 2:50 pm | Financings

The owner of a 108-unit senior care facility in Brook Park, Ohio, refinanced its HUD debt with the help of PGIM’s Seniors Housing and Healthcare Group, lowering its annual debt service costs by more than $65,000. David Strachan and Troy Buckley originated a $5.5 million loan, which came with a new rate of 2.78%, which is well below the previous rate of 4.2% (hence that notable debt service savings). Plus, the term returned to 30 years, and the borrower, North Park Properties LLC, also increased the funding to their reserve for replacement account.  Built in 1967 with additions in 1994 and 2010, the community was over 90% occupied. It has 30 skilled nursing beds and 78 assisted living beds... Read More »
PGIM Arranges Two HUD Refinances

PGIM Arranges Two HUD Refinances

by | Jun 6, 2021 8:29 pm | Financings

PGIM’s Seniors Housing and Healthcare Group arranged refinances for two seniors housing communities in the Southeast, the third and fourth properties refinanced for the same client during the pandemic. Christopher Fenton, Catherine Eby, Adrian Hartman, and Robyn Cunningham originated the loans.  The first, totaling $7.93 million, went to a 112-bed skilled nursing facility in Bastrop, Louisiana. Rather than a loan modification, Mr. Hartman and Ms. Cunningham secured a loan to maximize annual cash flow through term extension and a rate savings of 0.8% when considering the lowered MIP.  In the other deal, Mr. Fenton and Mrs. Eby provided a $15.94 million loan for a... Read More »
PGIM Refinances Virginia Seniors Housing Community

PGIM Refinances Virginia Seniors Housing Community

by | Mar 1, 2021 9:34 am | Financings

PGIM Real Estate’s Seniors Housing and Healthcare Group refinanced a 57-unit seniors housing community in Lynchburg, Virginia with a new HUD loan, providing the owner with substantial annual loan payment savings. That makes for a happy client. Family-owned and operated Runk & Pratt was the borrower, closing its second transaction with PGIM in the last 10 months.   The community was built in the 1980s and boasted 95% occupancy. It previously had a HUD mortgage holding an interest rate of 4.25%. However, Christopher Fenton and Catherine Eby arranged a new $13.2 million loan that both extended the borrower’s loan maturity and lowered the interest rate to 3.03%. That results in annual debt... Read More »
PGIM Arranges Array of HUD Financings

PGIM Arranges Array of HUD Financings

by | Feb 2, 2021 5:00 pm | Financings

PGIM’s Seniors Housing and Healthcare Group was busy on the HUD front this month, closing three loans totaling more than $33 million for three senior care facilities. Christopher Fenton, Corley Audorff, Catherine Eby and Josh Williams originated the loans and all worked on the largest transaction, which was a $21.9 million loan for a 238-unit assisted living/skilled nursing campus in Connecticut. Utilizing HUD’s 232/223(a)(7) program, the not-for-profit owner was able to lower its current interest rate by 81 basis points, and the loan term was extended to 35 years.  Then, Messrs. Audorff and Williams funded a $10.9 million loan for a 141-unit senior care... Read More »
HealthPeak Sells 10 Aegis Living Communities

HealthPeak Sells 10 Aegis Living Communities

by | Jan 12, 2021 4:20 pm | Acquisitions

HealthPeak Properties continues its exit from the seniors housing business, both its sale/leaseback portfolio as well as its RIDEA assets. In a large transaction, HealthPeak has sold 10 assisted living and memory care communities to its tenant, Aegis Living, which partnered with Blue Moon Capital Partners in the deal. The purchase price for the real estate (to HealthPeak) was $350 million, but the total price for the entire transaction was closer to $440 million, or about $626,700 per unit. Not too bad during a pandemic.   The 10 properties are located in California (6), Washington (3) and Nevada (1). Average occupancy in the third quarter... Read More »