COOKEVILLE, Tenn. — Walker & Dunlop Inc. has structured a $5.8 million loan through the United States Department of Housing and Urban Development (HUD) for Walnut Village, an affordable seniors housing community in Cookeville, approximately midway between Knoxville and Nashville.
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MADISON, Wis. — Associated Bank has completed $4.7 million in new construction financing and placement of $6.2 million in low-income housing tax credit (LIHTC) equity for Point Place Senior Apartments in Madison.
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TEXAS — Live Oak Bank has provided a $10 million conventional loan for the acquisition and renovation of a 90-unit assisted living and memory community.
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SEATTLE — M&T Realty Capital Corp. has hired James Schneider II as senior managing director, William Roach and Madeleine Roach as managing directors, and Shawn Needham as production analyst.
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WEST CHESTER, Penn. — HJ Sims has arranged $20.5 million for Barclay Friends, a nonprofit continuing care retirement community (CCRC) in West Chester, a borough 25 miles west of Philadelphia.
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MECHANICSVILLE, Va. — M&T Realty Capital Corp. has closed a $28.5 million Fannie Mae Seniors Housing loan for the refinance of a 106-unit assisted living facility located in Mechanicsville.
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NEW YORK CITY — Capital One has named Dana Scheppmann and David Harper as regional relationship managers for long-term care real estate lending.
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MASON, Ohio — Live Oak Bank has provided a $6.9 million conventional construction loan for a 41-unit assisted living and memory care development in Mason, a suburb of Cincinnati.
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KENTUCKY — KeyBank Real Estate Capital has provided $38.9 million through the FHA 232/223(f) mortgage insurance program to GMF Capital. The financing will refinance five skilled nursing facilities located throughout the state of Kentucky.
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CONCORD, Calif. — CBRE has arranged $19.9 million in financing for Carlton Senior Living Concord, a 152-unit independent living community in Concord, approximately 25 miles northeast of San Francisco.
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OREGON — Carnegie Capital has arranged $15 million in construction financing for a seniors housing community in Southern Oregon.
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PORT JEFFERSON STATION, N.Y. — Dwight Capital has closed a $12.8 million bridge loan for Woodhaven Center of Care, a 181-bed assisted living facility in the Long Island hamlet of Port Jefferson Station.
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HUD 232 lenders work through financing backlog, but projections vary on total loan production for FY 2019.
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As industry experts brace for a potential economic downturn in the next two years, many capital providers see a safe investment in senior living.
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JACKSONVILLE, LONGVIEW, GRANBURY and WOODVILLE, Texas — Lancaster Pollard Mortgage Company has arranged $20.7 million in HUD financing for a skilled nursing portfolio located throughout East Texas.
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IRVINE, Calif. — HCP Inc. (NYSE: HCP), an Irvine-based healthcare REIT, has closed an amended and restated credit agreement providing for a $2.5 billion unsecured revolving credit facility and a new $250 million unsecured term loan facility.
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TEXAS — Lancaster Pollard Mortgage Company has arranged two bridge loans totaling $42 million for The Aboretum Group.
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IRVING, Texas — Hunt Capital Partners, in partnership with co-developers Saigebrook Development and O-SDA Industries, has closed $8.4 million in federal low-income housing tax credit equity financing for the construction of Canova Palms.
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RICHMOND, Va. — HJ Sims has hired Tom Bowden as vice president, investment banking. Located in Richmond, Bowden leads business development efforts in Virginia, the Carolinas and Georgia.
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NORTH CAROLINA and KENTUCKY — Greystone has provided $71.9 million in financing for the acquisition and refinance of an 874-bed skilled nursing facility portfolio.
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CHICAGO — Bellwether Enterprise Real Estate Capital LLC, the commercial and multifamily mortgage-banking subsidiary of Enterprise Community Investment Inc., has hired Richard “Rick” Lynn as senior vice president to lead the company’s new Seniors Housing Group.
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NEW YORK CITY — Monticello Asset Management LLC, a specialized private real estate and asset-based lender, servicer and manager based in New York, has hired F. Donald Kelly III as senior managing director.
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CALIFORNIA — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $51.9 million Bridge-to-HUD loan for the acquisition of six skilled nursing facilities across California.
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CONNECTICUT — Carnegie Capital has arranged an $8 million refinancing for a 90-bed skilled nursing facility in Connecticut.
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RIDGELAND, Miss. — SunTrust Banks has served as sole lender of a $37.5 million refinancing for The Orchard, a seniors housing community in Ridgeland, a northern suburb of Jackson.
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CLERMONT, STUART and TAVARES, Fla. — CIT Group’s Healthcare Finance division has served as sole lead arranger for a $64 million loan for three assisted living facilities in Florida.
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FAIRFAX, Va. — CBRE has arranged $65.2 million in financing for the acquisition of The Virginian, a 306-unit continuing care retirement community (CCRC) in Fairfax. BMO Harris Bank’s Healthcare Real Estate Finance group provided the capital
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