Finance

Alta-Senior-Living_North-Palm-Beach-Fla
FinanceFloridaNews

Blueprint Arranges Refinancing for 100-Unit Community in South Florida

by Hayden Spiess

NORTH PALM BEACH, Fla. — Blueprint Capital Markets has arranged the refinancing of an assisted living and memory care community located in North Palm Beach in South Florida. Alta Senior Living is the borrower.  The property totals 100 units and recently underwent a capital expenditure, operational turnaround and lease-up process.  The undisclosed lender has provided a non-recourse bridge-to-HUD loan for an undisclosed amount. Kristen Ahrens, Pat Maloney and Ben Firestone of Blueprint secured the loan on behalf of Alta Senior Living. 

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FinanceMarylandNewsSkilled Nursing

MonticelloAM Provides $435M in Financing for Skilled Nursing Portfolio in Maryland

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $435 million in financing for a skilled nursing portfolio located in Maryland.  Totaling more than 1,890 beds, the portfolio comprises 14 facilities. The borrower owns and operates roughly 115 skilled nursing and assisted living properties throughout the Eastern U.S. and Sunbelt.  In addition to a $400 million acquisition loan, the financing includes a $35 million working capital line of credit.  “This closing came down to conviction in the sponsor and the assets,” says Jack Lally of New York City-based MonticelloAM. “They’ve done these complex …

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FinanceNebraskaNews

Lument Provides $21.2M HUD-Insured Loan for Community in Lincoln, Nebraska

by Hayden Spiess

LINCOLN, Neb. — Lument has provided a $21.2 million HUD-insured loan for the refinancing of Pemberly Place Senior Living, a community located in Lincoln.  Lument secured a commitment from the Federal Housing Administration (FHA) through its Express Lane program, which was launched last year to expedite the approval of certain low-risk, low-leverage transactions. Quintin Harris and Patrick Roan of Lument originated the financing.  “The Express Lane is the result of HUD listening to lenders and borrowers and making meaningful changes that accelerate transactions,” says Harris. “FHA programs have long offered some …

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FinanceNewsSkilled NursingWashington

MonticelloAM Provides $144M Financing for Washington Skilled Nursing Portfolio

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $144 million for the financing of a skilled nursing portfolio located in the state of Washington.  Totaling six facilities, the portfolio comprises 720 licensed beds.  The financing includes a $140 million bridge loan and a $4 million working capital line of credit, with a 36-month initial term. The borrower was not disclosed. 

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DevelopmentFinanceNewsTexas

Nuveen Provides $38.6M in C-PACE Financing for Development in Central Texas 

by Hayden Spiess

HORSESHOE BAY, Texas — Nuveen Green Capital has provided $38.6 million in Commercial Property Assessed Clean Energy (C-PACE) financing for the development of a new seniors housing community in Horseshoe Bay, roughly 50 miles northwest of Austin. Falcon Senior Housing is the borrower.  Dubbed The Statesman at Horseshoe Bay, the community will total 313,714 square feet upon completion. The property will feature 180 independent living, assisted living and memory care units.  Financing for the project also includes EB-5 immigration investment funds.  “Nuveen Green Capital and Texas PACE Authority allowed us to …

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CaliforniaDevelopmentFinanceNews

Developer Receives $252.1M Bond Financing for Community in Southern California

by Hayden Spiess

HUNTINGTON BEACH, Calif. — An undisclosed developer has received $252.1 million in bond financing for the construction of a new seniors housing community in Huntington Beach in Southern California.  HJ Sims and JLL Securities arranged the financing as lead book-running manager and co-manager, respectively. Bonds included Series A senior bonds and subordinate Series B and C bonds, issued through the California Public Finance Authority. The bonds were divided into three tranches, including a $165.7 million Series A tranche, a $74.3 million Series B tranche and a $12.1 million Series C tranche. …

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Investment-Panel
Active AdultFeaturesFinanceNews

InterFace Panel: To Maximize Yield, Active Adult Investors Must Embrace Lease-Up Risk

by Hayden Spiess

By Taylor Williams From an investment standpoint, there is plenty to like about active adult. The fundamentals are undeniable. Relative to traditional seniors housing and multifamily product, there is a limited amount of competition on the supply side of the active adult space, making it appealing to investors that have been priced out of conventional senior living and apartment deals.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. …

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FinanceMemory CareNew YorkNews

Berkadia Provides $25.8M Bridge Financing for Two Memory Care Facilities in New York 

by Hayden Spiess

NEW YORK CITY — Berkadia has provided $25.8 million in financing for the acquisition of two memory care facilities located in upstate New York.  The bridge loans feature a 24-month interest-only term with one 12-month extension option. Steve Muth and Ed Williams of Berkadia arranged the financing through Berkadia’s Proprietary Lending Group on behalf of the West Coast-based borrower.  Together, the two facilities total 116 beds and were 94 percent occupied at the time of financing. The existing operator will remain in place following the acquisition. 

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FinanceNews

BWE Arranges $77M Fannie Mae Financing for Midwest Community

by Hayden Spiess

CLEVELAND, Ohio — BWE has arranged $77 million in fixed-rate agency financing for a senior living community located in the Midwest. Fannie Mae provided the 10-year loan, which features full-term interest-only payments.  Located in a major metropolitan market, the property offers a full continuum of care, with independent living, assisted living and memory care units.  Ryan Stoll and Taylor Mokris of Ohio-based BWE secured the financing on behalf of the undisclosed borrower. 

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FinanceGeorgiaNewsNorth CarolinaSkilled NursingSouth Carolina

CFG Provides $72.4M Bridge Loan for Southeast Skilled Nursing Portfolio 

by Hayden Spiess

BALTIMORE — Capital Funding Group (CFG) has provided a $72.4 million bridge loan for the refinancing of a skilled nursing portfolio located in the Southeast.  The nine facilities included in the portfolio are located throughout Georgia, North Carolina and South Carolina.  “This transaction reflects the continued demand we’re seeing from experienced operators looking to unlock value and position their portfolios for long-term growth,” says Erik Howard, president of CFG Bank. “We focus on aligning capital with our clients’ broader strategy, supporting immediate priorities while strengthening the foundation for continued portfolio performance.” …

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