Finance

CLEVELAND — BWE Investment Sales LLC (BWEIS), a Cleveland-based investment sales organization that works closely with mortgage banker BWE, has hired Tony Hong as a vice president for seniors housing.  With over 15 years of experience in seniors housing investments, development, capital markets and advising, Hong will work closely with Charles Bissell with an aim to grow BWEIS’ seniors housing investment sales platform in partnership with the seniors housing debt team led by Ryan Stoll. Most recently, Hong was senior vice president of acquisitions and underwriting at Cogir Senior Living, …

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PFLUGERVILLE, Texas — Thorofare Capital has provided a bridge loan to Wilson Capital to refinance an existing construction loan on The Jovie at Pflugerville.  The newly completed, 182-unit, Class A active adult multifamily community opened in mid-2023 and is situated roughly 20 miles north of Austin. The loan amount was not disclosed. Thorofare’s director of originations, Jonathan Hart, originated the loan with colleagues Eddie Prosser, head of credit, and Henry Johnson, senior associate leading the underwriting. Wilson Capital was represented by B.K. Newsom, vice president of capital markets at CBRE …

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NEW YORK CITY — Berkadia Seniors Housing & Healthcare, a New York-based financial company, has provided $49.4 million in 232/223(f) HUD refinancings across five transactions in four states.  The loans carried an average loan-to-value (LTV) ratio of 75 percent and an average term of 33 years. Four of the loans refinanced bridge loans through Berkadia’s proprietary balance sheet. Steven Muth and Rafael Nobo originated a $15.95 million loan secured by a 73-unit community in Northern Virginia for a Mid-Atlantic-based owner-operator. The assisted living and memory care community, which also features …

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SAN DIEGO — Wells Fargo’s Community Lending and Investment (CLI) group has provided a total of $57.9 million in financing for construction of La Sabila, an affordable housing community for seniors in San Diego. The borrower is Wakeland. CLI provided a $30.5 million construction loan and $27.4 million equity investment. The project will consist of 85 residential units reserved for low-income residents over age 55. Further details were not disclosed. Timothy McCann, Terence Cordero and Jessica Gonzalez of CLI arranged the financing.

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FLORIDA — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $17.4 million to refinance debt on two skilled nursing facilities in Florida. The facilities feature a total of 261 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio of CFG originated the transaction.

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MINNEAPOLIS — Helios has arranged a $7.5 million term loan and revolving line of credit for a Minnesota-based provider of specialty memory care services. Helios arranged the 18-month, interest-only financing in support of the borrower’s acquisition of a specialty memory care community in an affluent suburb of St. Paul.  The community was stabilized at the time of the acquisition and originally developed by the borrower in partnership with a Chicago-based private equity firm. Prior to the financing, the borrower leased the community from the seller. The financing was sourced through …

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WISCONSIN — Helios has structured the sale and recapitalization of an assisted living and memory care provider in Wisconsin. A publicly traded regional lender provided the funds. Helios arranged the sale of non-performing assets assets in the portfolio to regional operators, including behavioral health providers in Wisconsin. The broker then repackaged the remaining performing assets, brought in a new operator, and arranged the debt to recapitalize the portfolio keeping the existing financial partner involved and retiring the operating partner and lender.

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SWEETWATER, Fla. — CREI Holdings has received a $67 million construction loan from Centennial Bank to build an affordable and workforce housing mid-rise building in Sweetwater, just west of Miami.  Construction of Li’l Abner III is set to begin in the second quarter of this year, with completion expected in the second quarter of 2026.  Coral Gables-based Burgos Lanza Architects and Planners designed the eight-story project, which features 328 one- and two-bedroom apartments. Of these, 40 percent will be designated for households with an income up to 80 percent of …

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ILLINOIS — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $13.6 million to refinance debt on two skilled nursing facilities in Illinois.  The facilities accommodate a total of 173 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio originated the transaction for CFG.

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LIVERMORE, Calif. — G Capital Markets (GCap), a capital advisory firm based in Carmel, has arranged a recapitalization for Bethany Home, a 59-bed assisted living community in Livermore on the eastern edge of the Bay Area.  Built in 2021 by a regional owner-operator, the property leased up in 2022 and has shown consistently strong performance for several years with cash flow margins well over 40 percent and occupancy of 90 percent, according to GCap. The bridge-to-HUD loan was structured with a large equity-out component and sized to maximize the takeout …

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