HOUSTON — Granite Investment Group has acquired five skilled nursing facilities in South Texas via two separate off-market transactions for a total of $90.1 million.
LOUISVILLE, Ky. — Lancaster Pollard has provided $5.4M in HUD financing for Springhurst Pines, a continuing care retirement community (CCRC) in Louisville.
TAMPA, Fla. — Enriched Community Development LLC (ECD), a Tampa-based seniors housing developer, plans to break ground on an 80-unit assisted living and memory care facility to be built in the Fishhawk area of southeast Tampa.
UNIONDALE, N.Y. — Arbor Commercial Funding LLC, a commercial real estate lender, has been named a Fannie Mae Seniors Housing Delegated Underwriting and Servicing (DUS) lender.
MIAMI, Fla. — The National Association of Real Estate Editors (NAREE) has awarded Seniors Housing Business magazine the Silver Award for Best Commercial Trade Magazine.
CHICAGO — Blueprint Healthcare Real Estate Advisors, a brokerage based in Chicago, has arranged the sale of six skilled nursing facilities in Nebraska for $15 million.
DENTON, Md. — Healthcare Transactions Group Inc. has arranged the sale of Caroline Nursing & Rehab Center, an 87-bed skilled nursing facility, and The Gables, a 16-unit assisted living facility. The two locations are part of a single community co-located on 23-acre campus in Denton.
VICTORVILLE, Calif. — Cambridge Realty Capital Companies has arranged a $12.3 million HUD Lean loan to refinance Knolls West Post Acute, a skilled care nursing facility located in Victorville.
Managing a seniors housing construction project is a complex process, and property owners may find it difficult or overwhelming to ensure that their construction budget is being used effectively and efficiently. In an effort to prevent excess billing and to keep project budgets on track, many owners are turning to independent third-party experts to conduct construction audits.
GRANITE BAY, Calif. — Cain Brothers Funding LLC, the mortgage banking affiliate of Cain Brothers, has arranged a $13.7 million mortgage loan for Eskaton Lodge Granite Bay, a 105-unit nonprofit assisted living facility in Northern California. The proceeds of the FHA loan were used to retire existing bank debt and an interest rate swap. As a result of the refinancing, Eskaton was able to eliminate the risks associated with the bank debt/swap structure and replace it with a 35-year fully amortizing loan with a fixed mortgage note interest rate of …