TAMPA, Fla. — Helios Healthcare Advisors has provided $7 million in HUD-insured financing for an assisted living and memory care community located in Tampa. Built in 2018 and situated near the Tampa International Airport, the property totals 92 beds. This transaction replaces the asset’s existing floating-rate senior debt. Helios utilized the recently established HUD “Express Lane” for the financing.
CHICAGO — Cambridge Realty Capital has arranged $21.5 million in bridge-to-HUD acquisition financing for a skilled nursing facility totaling 108 beds in Kentucky. A regional commercial bank provided the first mortgage loan to the undisclosed borrower. Cambridge’s HUD LEAN platform will be used to refinance the bridge loan Zach Scardina of Chicago-based Cambridge led the financing.
PAOLI, Pa. — Berkadia has brokered the sale of Daylesford Crossing, a 78-unit assisted living and memory care community located 25 miles west of Philadelphia in the suburb of Paoli. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare negotiated the transaction on behalf of the seller, Boston-based investment firm AEW Capital Management. Berkadia also originated an $18 million bridge loan on behalf of the buyer, a joint venture between an Atlanta-based entity that will serve as the general partner and an institutional limited partner. …
BETHESDA, Md. — Frank Cassidy has rejoined Walker & Dunlop as senior managing director, following his tenure as commissioner of the Federal Housing Administration (FHA) and assistant secretary for housing at the U.S. Department of Housing and Urban Development (HUD). Cassidy, who previously helped grow the firm’s FHA lending platform, will advise clients on FHA and government-sponsored enterprise strategies, helping clients navigate the changing policy and capital markets environment. “Frank returns to Walker & Dunlop at a defining moment in the housing industry,” says Sheri Thompson, executive vice president and head of …
BILLINGS, Mt. — Specialty investment bank Ziegler has announced the closing of a $191.5 million bond financing through the Montana Facility Finance Authority on behalf of St. John’s Lutheran Ministries, doing business as St. John’s United. The Series 2026ABC Bonds are scheduled to close this month. St. John’s United, St. John’s Foundation and Missions United, collectively comprise the Obligated Group, which owns a multi-campus senior living system located in the Billings and Laurel markets of Montana. The system features five senior living communities totaling 201 independent living units, 140 assisted living …
DENVER — Ziegler has closed Christian Living Communities Obligated Group’s $41.2 million Series 2026 Bonds, which were issued through the Colorado Health Facilities Authority. Christian Living Communities Obligated Group is a three-property senior living organization based in Denver. The organization’s communities include Clermont Park, Someren Glen and Holly Creek in metro Denver. Together, the properties total 474 independent living apartments and villas, 122 assisted living units and 192 skilled nursing beds. The parent group, Christian Living Communities, features other affiliate organizations and senior living communities, including three assisted living and memory …
FAIR LAWN, N.J. — Finance and investment management firm PCCP has provided a $66.9 million loan for the development of a new active adult community located in Fair Lawn, roughly 25 miles northwest of New York City. Sterling Properties and Danbro Properties received the financing. Dubbed Plaza Greene, the community will total 145 residences across four stories, with 127 market-rate apartments and 18 affordable units. The development will also feature 24,000 square feet of retail space, anchored by a 22,300-square-foot Sprouts Farmers Market. Completion of construction is scheduled for 2027. Based …
BALTIMORE — Capital Funding Group (CFG) has provided $318.8 million in financing across two transactions for a skilled nursing operator. The transactions include $288.8 million in acquisition financing for a portfolio of 22 skilled nursing facilities totaling 1,884 beds, as well as a $30 million working capital line of credit for the borrower’s full skilled nursing portfolio. The portfolio totals 40 properties and 4,224 beds across Missouri, Kansas and Ohio. Andrew Jones and Catherine Mansel of CFG originated the acquisition financing, and Jeff Stein and Jim Ginty originated the working capital …
GLEN ALLEN, Va. — Ziegler has closed approximately $171 million in bond financing for Virginia Baptist Homes doing business as LifeSpire of Virginia. Based in Glen Allen, the nonprofit company owns and operates five continuing care retirement communities in Virginia. LifeSpire’s properties include Lakewood in Richmond, The Culpeper in Culpeper, The Chesapeake in Newport News, The Glebe in Daleville and The Summit in Lynchburg. Together, the communities total 952 independent living, 225 assisted living, 108 memory care and 226 skilled nursing units. Proceeds from the bonds will be used to refund …
By Hayden Spiess Professionals active in the seniors housing lending space say that the sector is somewhat insulated from cyclical economic headwinds relative to other types of commercial real estate. Even so, lenders and borrowers have not been exempt from contending with factors such as elevated interest rates. Though the secured overnight financing rate (SOFR) has declined meaningfully year over year, the U.S. 10-year Treasury yield has remained largely unchanged. Widespread geopolitical turmoil is also creating uncertainty around not only interest rates, but also the outlook for inflation and other …
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