Finance

Blue-Moon-Property
FinanceNews

StepStone, Blue Moon Complete $250M Refinancing of Seniors Housing Portfolio

by Hayden Spiess

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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsWashington

Lument Provides $21.5M Refinancing for Community in Metro Seattle

by Hayden Spiess

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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Chelsea_New-City-N.Y
FinanceNew JerseyNew YorkNews

Bain, Capitol Seniors Housing Receive $48M Refinancing for Two Northeast Communities 

by Hayden Spiess

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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Belmont-Village_Aliso-Viejo-Calif
AcquisitionsAssisted LivingCaliforniaFinanceMemory CareNews

BMO Healthcare Real Estate Provides Acquisition Financing for 156-Unit Belmont Village Community in California

by Hayden Spiess

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. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingFinanceMemory CareNewsTexas

Berkadia Secures $30M Financing for Two Communities in Texas

by Hayden Spiess

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. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Scott-Brinker
Company NewsFinanceNews

Healthpeak Properties Forms Seniors Housing REIT

by Hayden Spiess

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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Hearthwood-Senior-Living_Bartlett-Ill
AcquisitionsFinanceIllinoisNews

Focus Healthcare Partners Receives Acquisition Financing for 293-Unit Community in Metro Chicago

by Hayden Spiess

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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentFinanceIndependent LivingKansasNews

Ziegler Secures $53.8M in Bond Financing for CCRC Expansion Project in Kansas

by Hayden Spiess

MANHATTAN, Kansas — Ziegler has secured $53.8 million in bond financing through the City of Manhattan, Kansas, on behalf of Meadowlark, a single-site continuing care retirement community (CCRC).  Situated on 55 acres, Meadowlark currently totals 359 units, with 137 independent living apartments, 50 independent living duplexes and cottages, 38 assisted living apartments and a 134-bed skilled nursing facility that comprises 60 private beds and 74 semi-private beds.  The community was originally developed in 1975. In 2022, Ziegler arranged financing for an expansion of the property. Upon opening, the expansion reached full …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceIllinoisNewsSkilled Nursing

MonticelloAM Provides $68M in Financing for Three Skilled Nursing Facilities in Illinois

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $68 million in bridge financing for a three-property skilled nursing portfolio located in Illinois.  Loan proceeds will be used the operator of the skilled nursing facilities, which total 746 licensed beds, to refinance existing debt.  Karina Davydov of New York City-based MonticelloAM originated the financing. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Cedarbrook-Senior-Living_Tigard-Ore
Assisted LivingDevelopmentFinanceMemory CareNewsOregon

PLG Provides $25.6M C-PACE Financing for Seniors Housing Development in Oregon

by Hayden Spiess

TIGARD, Ore. — PACE Loan Group (PLG) has provided $25.6 million in Commercial Property Assessed Clean Energy (C-PACE) financing for a seniors housing development currently underway in Tigard, roughly 10 miles outside downtown Portland. Mosaic is the developer and borrower.  Construction on the community, Cedarbrook Senior Living, began this year. Upon completion, which is scheduled for early 2028, the development will feature one four-story building with 107 assisted living units and 64 memory care beds.  PLG worked with Countryman Capital Partners to orchestrate the development’s capital stack. Financing for the project …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts