A team effort

A team effort

by | Aug 24, 2016 8:30 am | Acquisitions, Financings

We wrote in the August issue of The SeniorCare Investor of Birchwood Health Care Properties’ acquisition of four skilled nursing facilities and a hospice care and home health company in Oklahoma, and that HJ Sims had financed a $5.25 million subordinate loan to fund the deal. Now, RED Capital Partners has just announced that it closed a $12.7 million balance sheet acquisition loan for Birchwood’s take-over of the 361-bed portfolio. The transaction was unique, in that the ancillary home health and hospice business provided credit support for the bridge-to-HUD loan. Read More »

From fixing to building

by | Nov 20, 2015 8:32 am | Developments, Financings

A company with extensive experience in turning around struggling senior living communities is now developing its first property and is pulling together all manner of financing sources in its capital stack. Solutions Advisors, which got its start in 2010 advising senior living communities on management, marketing and sales strategies, has already broken ground on its flagship community in Hamilton, New Jersey. With 96 independent living, 75 assisted living and 24 memory care units, the community is expected to cost a total of $59 million, or about $302,600 per unit, to develop. In addition, 25 of the IL units can be converted to AL down the road, if the need presents itself. To operate the... Read More »