NEW YORK CITY — MonticelloAM has provided $107 million in financing, including a $100 million bridge loan and $7 million working capital line of credit, for a skilled nursing portfolio in Florida. The portfolio totals 480 beds across four facilities. “This closing demonstrates our ability to provide flexible capital solutions that meet evolving needs and foster stability for healthcare providers,” says Joesph Borenstein, head of New York City-based MonticelloAM’s healthcare bridge lending team.
BOZEMAN, Mont. — Berkadia has arranged $33.8 million in refinancing for Bozeman Lodge, an independent and assisted living community located in Bozeman. Oregon-based Radiant Senior Living is the borrower. Ed Williams, Steve Muth, Austin Sacco, Garrett Sacco and Alec Rosenfeld of Berkadia secured the financing from a debt fund on behalf of Radiant. The 2.5-year loan features interest-only payments for the full term. This marks the debt fund lender’s first loan within the seniors housing sector.
PONTIAC, Ill. — Cambridge Realty Capital has provided a $6 million loan to fund the construction of a memory care addition at The Pointe at Pontiac in central Illinois. The borrower is an Illinois-based limited liability company (LLC). The Pointe at Pontiac currently comprises 60 beds of supportive living, the Illinois version of Medicaid Waiver assisted living. The State of Illinois provides Medicaid funding to seniors age 65 and older who would otherwise not have the resources to reside in an assisted living facility. In addition to the new memory care …
NEW YORK CITY — StepStone Real Estate, the real estate arm of New York City-based investment firm StepStone Group (Nasdaq: STEP), and Blue Moon Capital Partners have completed a $250 million refinancing of a portfolio of seniors housing communities originally developed or redeveloped by Blue Moon. The portfolio includes five stabilized properties. The refinancing was completed through a continuation vehicle, a new investment structure that allowed investors in Blue Moon’s original fund to roll their investment into the new vehicle or exit and receive liquidity. StepStone is the majority equity partner …
FEDERAL WAY, Wash. — Lument has provided a $21.5 million loan for the refinancing of a seniors housing community located in Federal Way, roughly 25 miles south of Seattle. Village Green of Federal Way totals 170 units, with 136 assisted living units and 34 independent living cottages. Casey Moore of Lument arranged the Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) Section 232/223(f) loan on behalf of the borrower, a family-owned company. The loan features a fixed interest rate and 35-year term. “Lument was able to help us navigate …
NEW CITY, N.Y. and TOWNSHIP OF WASHINGTON, N.J. — Bain Capital Real Estate and Capitol Seniors Housing have received a $48 million loan for the refinancing of two seniors housing communities. The communities include The Chelsea at New City in New City, New York, and The Chelsea at Washington Township in the Township of Washington, New Jersey. JLL Capital Markets secured the three-year, floating-rate loan through a large regional bank on behalf of Bain and Capitol Seniors Housing. Built in 2021, The Chelsea at New City totals 80 assisted living, memory …
ALISO VIEJO, Calif. — BMO Healthcare Real Estate has provided financing for the acquisition of Belmont Village Aliso Viejo in Aliso Viejo. Harrison Street Asset Management is the borrower. Opened in 2019, the Southern California community totals 156 assisted living and memory care units. Belmont Senior Living developed and operates the property. Harrison Street currently has more than $108 billion in assets under management.
AUSTIN, Texas — Berkadia has secured $30 million for the refinancing of two assisted living and memory care communities located in Texas. Austin, Texas-based Journeyman Group is the borrower. The financing includes two seven-year, floating-rate Freddie Mac loans. Garrett Sacco, Austin Sacco, Steve Muth and Alec Rosenfeld of Berkadia arranged the financing on behalf of Journeyman Group.
DENVER — Healthcare real estate owner, operator and developer Healthpeak Properties (NYSE: DOC) has announced the formation and planned initial public offering (IPO) of a new seniors housing REIT, Janus Living. The publicly traded REIT will feature a RIDEA structure. Healthpeak will contribute its 34-community, 10,422-unit seniors housing portfolio to Janus Living and serve as its external manager, with a $10 million annual management fee. Immediately following the IPO, Healthpeak plans to retain a substantial majority interest in the REIT, with public shareholders owning the remainder. Scott Brinker, president and CEO …
BARTLETT, Ill. — Focus Healthcare Partners has received financing for the acquisition and repositioning of Hearthwood Senior Living, a 293-unit senior living community located in Bartlett, roughly 40 miles northwest of downtown Chicago. Ryan Stoll and Taylor Mokris of BWE arranged the $37 million non-recourse financing on behalf of Focus, which will use the funds to lever its previously all-cash acquisition of the property as well as more than $15 million in capital improvements. Focus plans to refresh the lobby and amenity area and add a bistro, modern theater and new …
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