NEW YORK CITY — MonticelloAM, a New York City-based seniors housing and multifamily bridge lending platform, has, with firm affiliates, provided $80 million in financing for a skilled nursing portfolio in Pennsylvania. The portfolio includes four facilities totaling more than 520 licensed beds. In addition to a $75 million bridge loan, the financing includes a $5 million working capital line of credit. Loan proceeds will be used by the borrower to acquire the facilities, fund the interest reserve and complete renovations at the properties. The financing features a 36-month initial term …
NEW YORK CITY — Marathon Asset Management has provid3ed a $235 million senior mortgage loan for the refinancing of a seniors housing portfolio totaling 11 properties. An affiliate of Lone Star Real Estate Fund VI is the borrower. Of the 11 communities, 10 are located in Florida, with one situated in the Dallas-Fort Worth metro in Texas. Together, the properties comprise 1,564 units. Lone Star Funds acquired the communities, which are operated by Discovery Senior Living, in 2021. The company has invested in strategic capital upgrades to the properties since acquisition. …
ROCHESTER, N.Y. — Lument has provided a $58.2 million Freddie Mac loan for the refinancing of a seniors housing campus located in Rochester in Upstate New York. Wegman Cos. is the borrower. Tyler Armstrong, Chris Cain and Taylor Russ of Lument arranged the financing. Totaling 332 units, the campus features The Village at Unity and The Hamlet and offers independent living, assisted living and memory care. The Village at Unity comprises 272 independent living units, and The Village at Hamlet comprises 40 assisted living and 20 memory care units. Originally built …
MECHANICSBURG, Pa. — Ziegler has provided $82.2 million in bond financing to borrower Messiah Lifeways, a Pennsylvania-based nonprofit that owns and operates Messiah Village, a continuing care retirement community (CCRC) in Mechanicsburg. Messiah Village serves more than 700 residents on an 85-acre campus, which it has occupied since 1978. The community was originally founded in 1896. In addition to 375 independent living units, 88 personal care units and 76 memory care units, the property features 100 skilled nursing beds and 18 skilled nursing memory support beds. Proceeds from the bonds will …
NORTHBROOK, Ill. and SNELLVILLE, Ga. — Two Senior Lifestyle communities have undergone recapitalization. Senior Lifestyle was the original developer of the communities, which the company continues to operate on behalf of the current ownership. The communities include North Shore Place in Northbrook, Illinois, and The Sheridan at Eastside in Snellville, Georgia. North Shore Place was originally opened in 2014 with 156 units. Currently, the property comprises 188 assisted living and memory care residences. The Sheridan at Eastside totals 214 units situated on a 15-acre campus. Opened in 2019, the community features …
NEW YORK CITY — MonticelloAM, with firm affiliates, has provided $21.8 million in financing for two-facility skilled nursing portfolio located in South Carolina. The financing includes a $19.3 million bridge loan and $2.5 million in working capital. The undisclosed borrower will use the funds to acquire the two properties, which comprise more than 260 licensed beds. “This financing solution underscores our ability to provide essential liquidity that supports operational needs and workforce priorities,” says Kim Gordon, head of the working capital group at New York City-based MonticelloAM. “This flexibility enables skilled …
VINELAND, N.J. — Live Well Senior Living Inc. has secured $45.6 million in bonds to finance the development of a new senior living community in Vineland, roughly 40 miles south of Philadelphia. Ziegler arranged and underwrote the financing. Upon completion, Live Well Cottages at Vineland will total 130 units. Distinctive Living will manage and operate the community. “Live Well Cottages addresses one of the most pressing challenges in senior housing today — affordability without sacrificing quality or choice,” says Joe Jedlowski, founder and CEO of Distinctive Living. “The cottage and pocket-neighborhood …
GILBERT and MESA, Ariz. — PGIM has sold two senior living communities located in metro Phoenix. The properties include The Watermark at Morrison Ranch in Gilbert and Acoya Mesa in Mesa. PGIM owned Acoya Mesa in a joint venture with the community’s original developer, Ryan Cos. US Inc. JLL Capital Markets arranged the portfolio sale on behalf of PGIM and secured acquisition financing for the undisclosed buyer. JLL Real Estate Capital LLC, a Freddie Mac Optigo lender, will service the loan. The Watermark at Morrison Ranch totals 115 units and was …
FORT WORTH, Texas — Berkadia has secured $39.7 million in financing across two transactions to fund the acquisition of three skilled nursing facilities located in Texas. The borrower is a Fort Worth-based owner and operator that previously operated the facilities on a triple-net-lease basis. Totaling $31.4 million, the first transaction was a bridge loan for the acquisition of two of the facilities, which together comprise 246 beds. The properties include a facility in Lufkin, built in 2002, and a facility in Bellmead, constructed in 2010. The buyer has operated the facilities …
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 Joseph Borenstein, head of New York City-based MonticelloAM’s healthcare bridge lending team.
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