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Finance

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Assisted LivingCaliforniaDevelopmentFinanceMemory CareNews

Quality Senior Housing Foundation, Sunrise Senior Living Receive $80.1M Financing for New Community in Southern California

by Hayden Spiess

LONG BEACH, Calif. — Quality Senior Housing Foundation and Sunrise Senior Living have received $80.1 million in financing for the development of a new community in Long Beach. JLL Capital Markets and H.J Sims arranged the tax-exempt bond financing on behalf of the borrowers.  Quality Senior Housing Foundation will own the community, which Sunrise Senior Living will operate. Upon completion, the property — Sunrise of Long Beach — will comprise 102 licensed beds across 86 apartments. Residences will include 62 assisted living units and 24 memory care units. Sunrise Development Inc. …

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Assisted LivingFinanceMemory CareNewsTexas

Helios Arranges $10.7M Refinancing for Assisted Living, Memory Care Portfolio in Metro San Antonio 

by Hayden Spiess

SAN ANTONIO, Texas — Helios Healthcare Advisors has arranged a $10.7 million HUD-insured refinancing for a portfolio comprising 76 assisted living and memory care units in the San Antonio metro.  Located within two suburbs of San Antonio, the units are situated within two communities.  Prior to securing this refinancing, Helios arranged an 18-month bridge loan to recapitalize the properties. The borrower is a regional owner and operator with a portfolio comprising more than 700 units within Texas. 

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Hawthorne-Heights
Affordable HousingDevelopmentFinanceFloridaKeyBankNews

National CORE Secures Funding for Affordable Community in Gainesville, Florida

by Lynn Peisner

GAINESVILLE, Fla. — KeyBank Community Development Lending and Investment has provided a $13 million construction loan to National CORE, a nonprofit developer, to finance Hawthorne Heights, an 86-unit affordable seniors housing project in Gainesville. KeyBank Commercial Mortgage Group also arranged a $6.5 million Freddie Mac permanent loan for the project.  Hawthorne Heights will serve seniors aged 62 and older with five units specifically set aside for individuals with special needs. The five-story building will be constructed on a 3-acre site, and, in addition to the special-needs units, will offer three …

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Affordable HousingDevelopmentFinanceFloridaNews

National CORE Receives $19.5M Construction Financing for Affordable Seniors Housing Project in Florida

by Hayden Spiess

GAINESVILLE, Fla. — Nonprofit developer National CORE has received $19.5 million in construction financing to fund the development of Hawthorne Heights, a new affordable seniors housing project in Gainesville.  KeyBank Community Development Lending and Investment provided a $13 million loan and secured a $6.5 million Freddie Mac permanent loan on behalf of the borrower.  National CORE received additional funding from Red Stone, which provided low-income housing tax credit equity and bonds from the Florida Housing Finance Corp., for the project. The project also qualifies for real estate tax abatement. Upon completion, …

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FinanceNew YorkNewsSkilled Nursing

MonticelloAM Provides $152M Financing for Skilled Nursing Portfolio in North Carolina

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $152 million in financing for a skilled nursing portfolio located across North Carolina.  The financing includes $142 million in bridge debt, which carries a 36-month initial term with two extension options, for the acquisition of the portfolio. Totaling 1,100 licensed beds, the portfolio comprises nine skilled nursing facilities.  Additionally, MonticelloAM has provided a $10 million working capital line of credit to support daily operational needs at the facilities.  The borrower was not disclosed. 

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FeaturesFinanceNews

Lenders Welcome Return of Stability to Capital Markets After Three Years of Volatility

by Hayden Spiess

By Matt Valley ATLANTA — In an unsettled world, the capital markets have ironically proven to be relatively stable this year. That’s helped pave the way for the rebound in financing across the seniors housing sector, lenders say. But they are quick to add that construction financing remains difficult to secure for most developers. For much of this year, the U.S. 10-year Treasury yield has fluctuated between 4.2 and 4.6 percent, a relatively narrow range compared with the high volatility experienced in the three years prior. In 2022, for example, the …

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ColoradoFinanceIllinoisNews

Spectrum Retirement Receives $330M Refinancing for Seniors Housing Portfolio in Midwest, Southwest

by Hayden Spiess

DENVER — Spectrum Retirement, a Denver-based seniors housing owner-operator, has received $330 million for the refinancing of a portfolio of eight seniors housing properties that are located across the Midwest and Southwest U.S. Ryan Stoll and Taylor Mokris of BWE, a national commercial and multifamily mortgage banker, arranged the financing on behalf of Spectrum Retirement. The nonrecourse debt was structured with full-term interest-only payments and a “competitive” interest rate. “We are honored that Spectrum chose BWE to represent them in the debt capital markets for such a complex transaction,” says …

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AcquisitionsFinanceMontanaNewsOregon

Integrated Senior Foundation Receives $79.3M Acquisition Financing for Three Communities in Oregon, Montana

by Hayden Spiess

BREA, Calif. — Integrated Senior Foundation, a non-profit senior living provider, has received $79.3 million in tax-exempt, floating-rate financing for the acquisition of three properties located in Oregon and Montana.  The communities include Magnolia Gardens in Cottage Grove, Oregon; Wiley Creek in Sweet Home, Oregon; and The Lodge in Great Falls, Montana. Together, the properties total 287 units, with 23 independent living, 190 assisted living and 74 memory care units. Magnolia Gardens features 101 units with a full continuum of care. Wiley Creek comprises 108 units, including independent living, assisted living …

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AcquisitionsCaliforniaFinanceNews

Harrison Street Receives Acquisition Financing for 153-Unit Community in Carlsbad, California

by Hayden Spiess

CARLSBAD, Calif. — Harrison Street has received a loan to facilitate the acquisition of a 153-unit senior living community located in Carlsbad.  The community, Oakmont Santianna, totals 153 units, including independent living, assisted living and memory care residences. Oakmont Management Group developed the property, which opened in 2022.  BWE arranged the financing, which includes a 10-year, fixed-rate loan with full-term interest-only payments. A life insurance company provided the loan.  Oakmont Management Group will continue to operate the community on behalf of the new ownership. 

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Active AdultDevelopmentFinanceNew JerseyNews

Rock Solid Builders Secures $29.5M Construction Financing for Active Adult Development in New Jersey

by Hayden Spiess

NUTLEY, N.J. — Rock Solid Builders Inc. has received a $29.5 million loan for the construction of a new active adult development in Nutley, New Jersey.  Kearny Bank provided the 2.5-year, floating-rate financing.  Completion of the development is scheduled for spring 2027. Upon completion, the property, Soho Park Residences, will feature 85 age-restricted units for residents ag 55 and older. Units will include one- and two-bedroom layouts, with an average apartment size of 1,110 square feet. Amenities at the community will include a fitness and wellness center, library, swimming pool and sun …

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