• Berkadia Secures Large Portfolio Refinance

    by | Jun 27, 2025 3:06 pm | Financings

    Berkadia closed $627.2 million in agency financing for Project Raven. Project Raven is a 35-asset seniors housing portfolio with 4,395 independent living, assisted living and memory care units. The portfolio spans 15 states. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld handled the financing on behalf of an institutional borrower.... Read More »

  • What Does Brookdale’s Proxy Fight Cost?

    by | Jun 27, 2025 2:54 pm | Opinion

    It seems that hardly a day goes by without yet another SEC filing by Brookdale Senior Living detailing why its slate of Board candidates is far better for shareholders than the slate submitted by activist investor Ortelius Advisors. But how much are they spending on this? It would be nice to know, and we are sure shareholders would rather have... Read More »

  • Do We Hear $30 Per Hour as the New Minimum Wage?

    by | Jun 27, 2025 2:53 pm | Opinion

    We know we have the People’s Republic of California, and after New York’s Democratic Party primary, we may have the People’s Republic of New York City by November. The surprise winner of the primary was 33-year-old Zohran Mamdani. He is a self-professed Socialist, and more. In addition to free bussing, freezes on apartment rents, higher taxes on... Read More »

  • BMO and TCG Refinance Florida CCRC

    by | Jun 27, 2025 2:51 pm | Financings

    BMO’s Healthcare Real Estate Finance group acted as sole lender on a real estate term loan refinancing for La Posada, a Class-A, 333-unit CCRC in Palm Beach Gardens, Florida. Originally opened in 2014 and with a major renovation and addition completed in 2018, the campus offers independent living (245 units), assisted living (30 units), memory... Read More »

  • The Lenders Roundtable: A Capital Markets Update

    by | Jun 26, 2025 3:48 pm | Financings

    On Thursday, June 26th, Managing Editor of The SeniorCare Investor Ben Swett sat down with a group of expert panelists to dive into the evolving financing process of M&A deals. Panelists included Dave Boitano, EVP & CIO of LTC Properties, Cary Tremper, President & CEO of Tremper Capital Group, and Patrick Gilbreath, Sr. Relationship... Read More »
Contemporary Healthcare Capital Does Mezz

Contemporary Healthcare Capital Does Mezz

by | May 10, 2018 2:18 pm | Acquisitions, Developments, Financings

Contemporary Healthcare Capital (CHC) completed two mezzanine loans to help buyers fund the purchase of skilled nursing facilities. The Portopiccolo Group, based in New Jersey, bought a 165-bed facility in Covington, Tennessee and borrowed a combined $8.755 million. CoastalStates Bank of Hilton Head provided the senior loan and CHC provided a $2.25 million mezzanine loan. In addition to funding the acquisition, proceeds were also used for about $600,000 in capital improvements.   In a larger deal, Citadel Care Centers bought a 246-bed skilled nursing facility in the Miami area of South Beach, Florida. New York City-based Valley National Bank provided the senior debt of the total $33.9... Read More »
Off To The Races

Off To The Races

by | May 10, 2018 2:09 pm | Acquisitions, Developments

Just as the horses were coming into the stretch at the Derby last Saturday, Blueprint Healthcare Real Estate Advisors was closing on the sale of two skilled nursing facilities in Kentucky. They were built in 1993 and 1999, and one of the facilities underwent a $1.7 million renovation in 2014. Combined occupancy was 80% with revenues of $10 million. The sales price was $7.5 million, or about $51,000 per bed. Chris Hyldahl, Gideon Orion, Michael Segal and Ben Firestone represented the California-based seller, and the buyer was ClearView Healthcare Management.   Just to the south, Brooks Blackmon and Trent Gherardini of Blueprint sold a 120-bed skilled nursing facility in Butler,... Read More »

Greystone Hat-Trick in New York

by | May 9, 2018 8:24 am | Acquisitions, Developments, Financings

Fred Levine of Greystone closed three HUD financings on the same day for an acquisition of three New York skilled nursing facilities. The $75 million loan, which comes to $133,690 per bed, financed three nursing facilities with 561 beds. They included Brookside Multicare in Smithtown (353 beds), White Plains Center for Nursing and Rehab in White Plains (88 beds), and Little Neck Nursing Center in Queens (120 beds). The Smithtown facility includes a pediatric unit and ventilator beds. Read More »