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FeaturesFinanceFrom The Magazine

C-PACE Financing Hits Its Stride With Significant Deal Volume Growth

by Hayden Spiess

By Hayden Spiess Investment firm and asset manager Nuveen has a dedicated “What is C-PACE?” page on its website, outlining the basics of this unique type of financing. That the firm sees such a fact sheet as necessary is unsurprising, given that within the commercial real estate industry, Commercial Property Assessed Clean Energy (C-PACE) financing carries less familiarity relative to other financing products.  Anne Hill, senior vice president of Bayview PACE, says that “there are some misconceptions out there” and that there is “some confusion around the product.”  Lenders say …

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Assisted LivingDevelopmentFinanceFloridaIndependent LivingMemory CareNews

JLL, HJ Sims Secure $134.3M Tax-Exempt Bond Financing for Seniors Housing Development in Orlando

by Hayden Spiess

ORLANDO, Fla. — JLL and HJ Sims have arranged $134.3 million in tax-exempt bond financing for a seniors housing development currently underway in Orlando.  Dubbed Millenia Moments Orlando, the community will feature 151 independent living, 78 assisted living and 32 memory care units. Trinity Community Development Foundation, a nonprofit formed by Trinity Broadcasting Network (TBN), is the developer and borrower.  Completion of the facility, which will total 316,900 square feet, is scheduled for 2027. The community will feature floorplans in one- and two-bedroom layouts. Memory care residences will include 26 private …

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FinanceMassachusettsNews

Diversified Healthcare Trust Receives $109M Refinancing Through Freddie Mac

by Hayden Spiess

NEWTON, Mass. — Diversified Healthcare Trust (DHC), a Massachusetts-based REIT that owns roughly $7.2 billion of healthcare properties across 36 states, has received a $109 million mortgage financing through Freddie Mac.  The 10-year, fixed-rate loan is secured by seven senior living communities comprising 1,184 units. Five Star Senior Living, the operating division of AlerisLife Inc., manages the properties, which are located in five states.  DHC plans to use the proceeds to redeem a portion of its outstanding 9.750 percent senior notes due in 2025.  “This new 10-year loan through Freddie Mac …

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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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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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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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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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