Billy Meyer, managing director of Seattle-based Columbia Pacific Advisors, doesn’t mince words when talking about the bridge lender’s cautious approach to financing seniors housing product today. “We don’t underwrite hope as a strategy anymore. It’s just not a good execution strategy, we believe.”
LONG ISLAND, N.Y. — Carnegie Capital has sourced and structured a $24 million bridge loan to refinance a skilled nursing and assisted living facility along the North Shore of Long Island.
LOS ANGELES — Commercial real estate and financial services firm Walker & Dunlop Inc. has expanded its multifamily investment sales platform to the West Coast with the addition of Javier Rivera, a senior vice president based in Los Angeles.
ATLANTA — SunTrust Banks Inc. (NYSE: STI), an Atlanta-based lender, has expanded its Aging Services/Senior Living Industry Practice group. Previously only available in select regions, the group’s services will now be available on a national scale.
BUFFALO, N.Y. — KeyBank Community Development Lending & Investment has provided $14.2 million in construction financing for the renovation of Riverview Manor and Piotr Stadnitski Gardens in Buffalo.
NACOGDOCHES, Texas — Capital One has provided a $9.3 million Fannie Mae fixed-rate loan to refinance The Arbor Assisted Living and Memory Care, a 59-unit seniors housing facility in Nacogdoches.
KYLE, Texas — Housing & Healthcare Finance has provided a $4.9 million 232/223(f) HUD loan for New Haven of Kyle.
CHAPEL HILL, N.C. — KeyBank Real Estate Capital has originated a $13.5 million refinancing for Chatham Ridge Assisted Living in Chapel Hill.
DURHAM, N.H. — Ziegler has closed on $110.5 million in bond financing for the development of RiverWoods Durham, a 222-unit continuing care retirement community (CCRC).
UPSTATE NEW YORK — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $29 million in financing for the acquisition of a 236-bed skilled nursing facility in Upstate New York.