• CIBC Completes Several Financings

    CIBC Bank USA announced a handful of senior care financings across multiple states. First, the company closed a $17.5 million cash-out refinancing for a regional operator’s portfolio of three skilled nursing facilities with 235 total beds in northeast and southeast Massachusetts, and southern New Hampshire. The facilities have an effective age of... Read More »
  • Blueprint Adding HUD Lending Platform

    Fresh off another record-setting year for investment sales activity, Blueprint announced a major expansion of its capital markets services to now include FHA/HUD lending and servicing capabilities. The firm is acquiring the existing FHA/HUD lending platform of MidCap Financial Services, and hiring Tony Marino, formerly of Cambridge Realty Capital... Read More »
  • More New Capital Enters Seniors Housing

    A fully-integrated real estate firm that is well known in the student housing world announced its foray into the seniors housing industry. Landmark Properties focuses on the development, construction, acquisition, investment management, and operation of high-quality residential communities, but the company’s intent is to invest in ground-up... Read More »
  • Berkadia’s Recent Financing Activity

    In the past 30 days, Berkadia’s Jay Healy and Andrew Lanzaro have closed $111.5 million across four financings for four separate sponsors, encompassing eleven properties in six states. The activity included three bridge financings totaling $69.6 million from Berkadia’s proprietary balance sheet and a $41.9 million HUD refinance. The first... Read More »
  • Inspirit Senior Living Appoints New President

    Torey Riso is heading back to the operating world, joining Inspirit Senior Living as President as of March 16. He joins Dave McHarg, who is the CEO of Inspirit and Founding Partner of the company. Since its founding in 2015, Inspirit has grown to 37 properties under management, with Inspirit holding an equity interest in around half of those. ... Read More »
Contemporary Healthcare Capital’s Latest Mezz Closings

Contemporary Healthcare Capital’s Latest Mezz Closings

Contemporary Healthcare Capital (CHC) closed two more mezzanine financings, working with bank partners to round out the capital stacks in the two transactions. CHC first returned to Wenatchee, Washington, where it had originally closed a $6.8 million construction loan and a $1.35 million mezzanine loan in December 2014 to fund Regency Pacific Management’s development of a 55-bed skilled nursing facility. After opening in 2016, the time has now come to refinance, and CHC was tapped to provide a $2.4 million mezzanine loan. CoastalStates Bank of Hilton Head, South Carolina provided the senior portion of the total $8.4 million uni-tranche loan. Then, in Mesquite, Nevada, CHC closed a $2.5... Read More »
HUD, Fannie Mae and A Bank, Oh My!

HUD, Fannie Mae and A Bank, Oh My!

Spreading the love this month, Lancaster Pollard worked with HUD, Fannie Mae and a bank to close its latest three transactions. Quintin Harris led the way on the HUD deal, closing an $11.7 million refinance to replace short-term, floating-rate commercial bank debt on a 95-unit senior living community in St. Michael, Minnesota. Moving forward, the community’s owners, Tealwood Senior Living and its partners, will be able to invest in the physical plant and better serve its residents. On the Fannie Mae financing, Casey Moore arranged a 12-year loan for an 89-bed memory care community in Olympia, Washington. Originally built in 1996, the community had an existing 10-year Fannie Mae loan that... Read More »