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Finance

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Assisted LivingCaliforniaFinanceIndependent LivingMemory CareNewsPennsylvania

BWE Secures $308M Refinancing for Two Communities in California, Pennsylvania

by Hayden Spiess

LOS ANGELES and AMBLER, Pa. — BWE, a Cleveland-based commercial real estate financial services firm, has arranged the $308 million refinancing of a pair of seniors housing properties in the Los Angeles and Philadelphia metro areas. The financing was structured as a single transaction on behalf of a joint venture between Columbia Pacific Advisors, LAMB Properties and Harbert South Bay Partners. Momentum Senior Living operates both properties. Located northwest of Los Angeles in Woodland Hills, California, The Variel is a 336-unit community that offers independent living, assisted living and memory care …

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Ativo of Sundance
ArizonaCaliforniaFinanceNews

JLL, HJ Sims Secure $239.6 Million in Tax-Exempt and Taxable Bond Financing for Seniors Housing Portfolio

by Channing Hamilton

BUCKEYE AND YUMA, Ariz., AND SANTA CLARITA, Calif. — JLL and HJ Sims have arranged $239.6 million in tax-exempt and taxable bond financing for the Integrated Senior Foundation-Ativo Portfolio, three seniors housing properties totaling 430 units in Arizona and California. Integrated Senior Foundation is a non-profit 501(c)(3) owner and operator based in Brea Calif. The portfolio, which includes two ground-up development communities and one acquisition, consists of Ativo of Sundance, located in the fast-growing city of Buckeye, Arizona; Ativo of Yuma, in Yuma, Arizona; and Ativo of Santa Clarita, located within …

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Risor St. Louis Park
Active AdultFinanceMinnesotaNews

JLL Arranges $42.9M Bridge Financing for Active Adult Community in Metro Minneapolis 

by Hayden Spiess

ST. LOUIS PARK, Minn. — JLL Capital Markets has arranged a $42.9 million bridge loan for the refinancing of Risor of St. Louis Park, an active adult community located in St. Louis Park, roughly 10 miles outside downtown Minneapolis. Roers Cos. is the borrower.  Completed in November 2023, the apartment community features 170 units reserved for residents ages 55 and older in studio, one-, two- and three-bedroom layouts. The property includes 18 affordable residences for income-restricted renters.  Amenities at the community include a club room, golf simulator, movie theater, pool and …

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Assisted LivingFinanceMemory CareMinnesotaNews

Colliers Arranges $24M Refinancing for Community in Minnesota

by Hayden Spiess

MANKATO, Minn. — Colliers Mortgage has arranged a $24 million HUD loan for the refinancing of a senior living community located in Mankato.  The Pillars of Mankato totals 118 units with assisted living and memory care residences. Amenities at the property include community and activity rooms, a library, salon and putting green.  Sam Butler of Colliers secured the loan, which carries a 35-year amortization, on behalf of the borrower, Tunbridge Peak LLC. 

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Company NewsFinanceNew YorkNewsPeople

Amy Heller Joins Meridian Capital Group 

by Hayden Spiess

NEW YORK CITY — Amy Heller has joined Meridian Capital Group as a senior managing director with the firm’s senior housing and healthcare group.  Founded in 1991, New York City-based Meridian is a commercial real estate finance, investment sales and retail leasing advisor. Meridian serves as a financial intermediary for commercial seniors housing and healthcare properties in the U.S., covering both debt brokerage and investment sales across skilled nursing, seniors housing and medical office properties. In 2024, the firm originated a total of roughly $4.7 billion in healthcare-related debt financing for …

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FinanceNew YorkNewsSkilled Nursing

MonticelloAM Provides $25M Refinancing for Skilled Nursing Facility in New York City

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided a $25 million mezzanine loan for the refinancing of a skilled nursing facility in New York City.  Comprising 300 beds, the facility is situated within Staten Island.  The undisclosed borrower will use the loan proceeds to recapitalize the property’s existing equity. 

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Affordable HousingDevelopmentFinanceMassachusettsNews

2Life Communities Receives State Funding for 127-Unit Affordable Housing Project in Boston

by Hayden Spiess

BOSTON — 2Life Communities has received funding in the form of low-income housing tax credits, state bond funds and rental subsidies from the state of Massachusetts for the development of an affordable seniors housing community in the Boston neighborhood of Mattapan. Massachusetts Gov. Maura Healey’s administration awarded the funding.  Dubbed Brooke House at Olmsted Village, the project will comprise 127 apartments reserved for seniors earning at or below 60 percent of the area median income.  The property will also feature a 2,400-square-foot public community space with a small convenience store. Brooke House will …

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Assisted LivingCaliforniaFinanceMemory CareNewsSkilled Nursing

Forbright Provides $44M HUD Financing for 318-Bed Facility in California

by Hayden Spiess

SAN JOSE, Calif. — Forbright Bank has provided a $44.2 million HUD loan to finance a 318-bed skilled nursing, assisted living and memory care facility located in the San Jose area of California.  Provided under the HUD 232/223(f) program, the 35-year fully amortizing term loan will be used to refinance existing Forbright Bank bridge and partnership debt, as well as cover the cost of recent capital expenditures and critical repairs. Forbright originally provided acquisition financing and a line of credit for working capital for the undisclosed borrower in 2022. 

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Active AdultFinanceMinnesotaNews

BWE Secures $20M Permanent Financing for Active Adult Community in Metro Minneapolis

by Hayden Spiess

CHANHASSEN, Minn. — BWE has secured $20 million in permanent financing for Lake Place, an active adult community located in Chanhassen, roughly 20 miles outside Minneapolis. Silver Creek Equity, a Minnesota-based development company, is the borrower.  Lundat Kassa of BWE originated the financing through Freddie Mac on behalf of the borrower. The loan features a 10-year term with a 35-year amortization period and five years of interest-only payments. Proceeds from the loan will be used to close out the existing high-interest floating rate construction financing.  Built in 2023, Lake Place totals …

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Assisted LivingFinanceMemory CareNew YorkNews

MonticelloAM Arranges $115M Acquisition Financing for Seniors Housing Portfolio in Long Island

by Hayden Spiess

LONG ISLAND, N.Y. — MonticelloAM has arranged $115 million in acquisition financing for a portfolio of seniors housing communities located in Long Island. The undisclosed borrower plans to use the proceeds from the senior bridge loan to both acquire the properties and expand the services offered across the communities.  The portfolio comprises 1,000 beds across multiple assisted living and memory care communities.  With two six-month extension options, the financing carries a 36-month initial term. 

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