SunTrust Bank Arranges Atlanta-Area Construction Financing

SunTrust Bank arranged construction financing for the first phase of an enormous senior living development going up in the Atlanta metro area that will include some 600 units when all is said and done. The developer, Village Park Senior Living, will start with 204 high-end units (including 82 independent living, 75 assisted living and 26 […]

SunTrust Sets Eyes On Colorado Bridge Financing

SunTrust Bank’s ears must have been burning, because on the day of our webinar, Bridge Loans: The Hottest Lending Product for Seniors Housing and Care (which you can still listen to here), the bank originated a $31 million bridge loan for an independent living community in Colorado Springs, Colorado. Just completed earlier this year, the […]

SunTrust Secures HUD Loan For Lynchburg Senior Living Community

Family-owned senior living operator Runk & Pratt secured a $13.2 million HUD loan to refinance its assisted living community in Lynchburg, Virginia. Thanks to a connection to the owners through David Wilt, market president of SunTrust Corporate & Commercial Banking in Roanoke, Virginia, Joshua Hausfeld of SunTrust CRE Seniors Housing & Healthcare Finance originated the […]

Cohen Financial Closes Michigan Financing

In northern Michigan, Cohen Financial, a division of SunTrust Bank, arranged more than $4.1 million in HUD financing for an assisted living community in the town of Alma. The 41-unit community is owned and operated by Grand Rapids-based Leisure Living Management, and as recently as 2013, it added a 12-bed memory care unit to its […]

Ridge Care Senior Living Looking To Grow In South Carolina

Already a force in West Virginia and North Carolina, Ridge Care Senior Living is expanding its assisted living/memory care portfolio into South Carolina with a brand-new 100-unit (60 AL and 40 MC) community in the beach town of Pawleys Island. Expected to open in Summer 2018, the community is expected to cost around $20.5 million, […]

SunTrust Bank Funds Large CCRC Expansion

As the construction boom continues across seniors housing, existing communities often have to renovate, expand or convert in order to survive. A 20-year old CCRC in Richmond, Virginia is doing just that, with a massive expansion project planned to add and improve the services it offers. Owned and operated by not-for-profit Pinnacle Living, formerly Virginia […]

SunTrust Bank and Seniors Housing

Despite an apparent tightening in the seniors housing financing world (a topic which we will discuss in detail in our webinar at 1PM on October 27), borrowers may soon have a new name to choose from. SunTrust Bank announced it intends to acquire substantially all assets of the operating subsidiaries of Pillar Financial, LLC, along […]