DALLAS — JLL Capital Markets has arranged a $175 million refinancing for a six-property seniors housing portfolio totaling 821 units across the Southeast. The portfolio offers a mix of independent living, assisted living and memory care units. Five of the…
WESTMONT, Ill. — Cambridge Realty Capital Cos. has provided a $18.1 million HUD Lean loan to refinance Bria of Westmont, a skilled nursing facility in Westmont, approximately 20 miles west of downtown Chicago. Andrew Erkes, Cambridge President, said Cambridge provided…
DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992,…
COMMERCE, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.3 million loan for the refinancing of Brookside Commerce, an assisted living facility in Commerce, approximately 70 miles northwest of Atlanta. The 62-bed community includes 12 independent living…
VIRGINIA BEACH, Va. — National Health Investors Inc. (NYSE: NHI) has funded a $42.5 million senior loan to refinance a portfolio of skilled nursing facilities located in Texas. The borrower is Capital Funding Group and the properties are leased by…
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the Eagle-based parent company of the Pennant group of affiliated home health, hospice and senior living companies, has initiated a search for a new chief financial officer. Pennant’s current CFO, Jennifer…
OHIO and PENNSYLVANIA — VIUM Capital has arranged $26.3 million in debt fund financing and $63.1 million in balance sheet financing for the acquisition of nine assisted living communities in Ohio and Pennsylvania. The borrower is a Minnesota-based owner-operator, which…
RHODE ISLAND — Nixon Peabody LLP has advised Providence Realty Investment (PRI) in seven separate transactions that refinance debt on nine affordable housing properties across Rhode Island. The portfolio totals 708 units of mostly age-restricted affordable housing. All seven of…
MICHIGAN — VIUM Capital has arranged a $16.4 million bridge loan for the acquisition of a 64-unit assisted living community in Michigan. Approximately $3.2 million of the initial $4.0 million earnout was released at closing. Further details were not disclosed.…
INDIANA — VIUM Capital has arranged $136.8 million in bridge financing for a portfolio of 17 skilled nursing facilities in Indiana. The first-mortgage loan was made to fund the acquisition of the properties, which total 1,470 beds. Most of the…
ILLINOIS — VIUM Capital has provided a $7.8 million HUD refinancing for a 130-bed skilled nursing facility in Illinois. The refinancing will achieve debt-service savings and create a permanent debt structure for the stabilized project. Further details were not disclosed.…
By Matt Valley The seniors housing industry can’t seem to catch a break in the wake of the COVID-19 pandemic, says Aron Will of CBRE Capital Markets. While operational performance has improved the past several months due to a gradual…
NASHVILLE, Tenn. — Lument has hired Justin Elshire as a managing director to lead its new office in Nashville. Elshire is responsible for originating and structuring commercial mortgage loans for seniors housing and healthcare clients across the country, focusing primarily…
NEW YORK CITY — Berkadia Seniors Housing & Healthcare, a New York-based financial services firm, has arranged $177 million in financing across seven deals completed from July 15 through the end of October. Bianca Andujo, Ed Williams, Jay Healy, Rafael…
Macroeconomic conditions are slowing the pace of seniors housing transactions and squeezing the availability of capital. Inflation and rising interest rates are making deals more expensive to finance. Debt providers are tightening their underwriting terms, while equity investors sit on…
ORO VALLEY, Ariz. — Ziegler has arranged bond financing for La Posada, a continuing care retirement community (CCRC) owner in metro Tucson. La Posada was incorporated in 1996 to acquire the CCRC known as La Posada at Park Centre in…
DALLAS — CBRE National Senior Housing has arranged a refinancing of a seniors housing portfolio on behalf of Brookdale Senior Living Inc. The portfolio comprises 24 communities with 2,377 total units that include 720 independent living units, 1,205 assisted living…
NEW YORK CITY — BHI, a New York City-based commercial bank, has closed on a $42.5 million term loan for TL Management, a company that owns skilled nursing facilities across the country. “This transaction is part of BHI’s continuous growth…
The seniors housing market has had its fair share of well-documented struggles, including plunging occupancies during COVID-19 and continuing labor challenges. Like the rest of the commercial real estate market, the sector is now confronting higher interest rates and recession.…
ALEXANDRIA, Va. — Oxford Finance LLC, an Alexandria-based finance firm, closed over $347 million in financing transactions through its healthcare real estate group during the second and third quarters of 2022. Oxford provided a $26.2 million term loan and $3…
BEAUFORT, S.C. — Live Oak Bank and Locust Point Capital have arranged a $15.2 million loan for Georgia-based Phoenix Senior Living. The financing retired the existing construction debt of a 75-unit assisted living and memory care community in Beaufort, South…
NEW YORK CITY — Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $192.3 million in seniors housing and healthcare financing during third-quarter 2022. Dwight provided a $42 million bridge loan to facilitate the acquisition of a three-property skilled…
The Oct. 11 webinar “No Crystal Ball… But Let’s Talk About the Outlook for Seniors Housing Investment and Finance,” featured industry experts discussing market confusion and uncertainty — what is happening now and what may happen in the fourth quarter of 2022 and into 2023.…
TEXAS — Nick Skarich, Steven Marx, Corley Audorff and Josh Williams of Colliers Mortgage have arranged an $11.8 million bridge loan for the acquisition of three skilled nursing facilities in Texas. The facilities, which participate under the Texas Quality Incentive…
WISCONSIN — VIUM Capital has funded a $6.2 million bridge loan for a 62-unit assisted living and memory care community in Northeast Wisconsin. The borrower used the funds to acquire the property and further build on its existing portfolio in…
NASHVILLE, Tenn. — CBRE has arranged an undisclosed amount of financing for construction of The Crestmoor at Green Hills in Nashville. A joint venture between Bridgewood Property Co. and Harrison Street are developing the property, which is slated to rise…
LAKEWOOD, Colo. — Ziegler and M&T Realty Capital Corp. have acted as financial advisor in a $19.5 million Fannie Mae financing on behalf of Essex Communities. The transaction will refinance the existing debt on Carmel Oaks, an age-restricted independent living…