ARNOLD, Mo. — Love Funding has provided a $12.9 million FHA loan for The Woodlands of Arnold, an assisted living, memory care and skilled nursing complex in Arnold. The loan will replace bridge financing on the property. The Woodlands of Arnold is part of a larger healthcare campus, offering a full continuum of care including independent living, assisted living, memory care and skilled nursing. The subject credit facility included financing for a 178-bed skilled nursing facility and a 24-unit assisted living facility that is being converted into a memory care …
Finance
HARLEYSVILLE, Pa. — CBRE has arranged an undisclosed amount of supplemental financing for Arbour Square of Harleysville, a 276-unit independent living community. Located approximately 35 miles north of downtown Philadelphia, the community was opened in two phases between 2006 and 2014. The borrower is Green Courte Partners, and the company’s wholly owned subsidiary True Connection Communities operates the property. Aron Will, Austin Sacco and Tim Root arranged the Freddie Mac loan. Further details of the transaction were not disclosed.
PLEASANT HILL and DAVIS, Calif. — CBRE has provided refinancing loans for three Carlton Senior Living properties totaling $58 million. The portfolio includes Carlton Senior Living Poet’s Corner and Carlton Senior Living Pleasant Hill – Martinez, both located northeast of the Bay Area in Pleasant Hill, as well as Carlton Senior Living Davis in the Sacramento suburb of Davis. The properties feature a combined 251 assisted living units and 64 memory care units and average 93 percent occupancy. Andrew Behrens, Aron Will, Austin Sacco, and Adam Mincberg arranged the Freddie …
Lancaster Pollard Funds $25M HUD Construction Loan for Transitional Care & Skilled Nursing of Oceanside
by Jeff Shaw
OCEANSIDE, Calif. — Lancaster Pollard Mortgage Co., a division of ORIX Real Estate Capital, has provided a $25 million FHA construction loan for Transitional Care & Skilled Nursing of Oceanside. The 120-bed skilled nursing facility will be located in Oceanside, approximately 40 miles north of San Diego. RangeComm Development, in partnership with Providence Group, is developing the property, which will focus on short-stay rehabilitation. The non-recourse loan features a fixed interest rate and 40-year term. Brett Murphy led the transaction for Lancaster Pollard.
ALEXANDRIA, Va. — Oxford Finance LLC has closed a $19.8 million add-on term loan and revolving line of credit to an owner-operator of skilled nursing facilities based in New Jersey. The upsized credit facility now exceeds $75 million. The additional proceeds were used to finance the opportunistic acquisition of a facility located in the eastern U.S. This transaction represents Alexandria-based Oxford’s third deal with the undisclosed borrower.
CHICAGO — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $32.4 million HUD 232/223(f) refinancing of a 210-bed skilled nursing facility in metro Chicago. The borrower is Chicago-based Legacy Healthcare. The loan features a 35-year term and amortization Ephraim Kutner, Jonathan Kutner and Eli Kutner negotiated the transaction.
Aaron Becker to Lead ORIX Seniors Housing Division Following Merger of Lancaster Pollard, RED, Hunt
by Jeff Shaw
PHILADELPHIA — ORIX Real Estate Capital (OREC) has appointed Aaron Becker as head of production for seniors housing and healthcare. Based in the firm’s Philadelphia office, Becker will lead seniors housing and healthcare originations for OREC, which is based in Columbus, Ohio. The new entity will combine the forces of Lancaster Pollard, RED Capital Group and Hunt Real Estate Capital. ORIX Corp. USA acquired the three entities over recent years. Prior to being named head of production, Becker was regional manager in the Northeast for Lancaster Pollard, and served as …
KANSAS — Monticello has provided $15.5 million in first lien debt financing for a portfolio of skilled nursing facilities in Kansas. The properties total 282 beds, and the transaction includes two acquisitions and two refinancings. The borrower is an owner-operator with a total portfolio of 945 licensed beds.
HJ Sims Hires Two Seniors Housing Experts, Expanding Investment Banking Team to West Coast, Midwest
by Jeff Shaw
FAIRFIELD, Conn. — HJ Sims has added two senior bankers as the firm opens new offices in the Midwest and on the West Coast. Lynn Daly joins Sims as executive vice president in its new Chicago location. She has over 30 years of experience working with nonprofit organizations in financing. Daly was acting head of senior living investment banking at BB&T Capital Markets, where she managed BB&T’s senior living relationships in the Midwest, facilitating financings of $1.3+ billion. Prior to BB&T Capital Markets, Daly spearheaded the Catholic Initiative within senior …
NEW YORK CITY — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged loans totaling $12.9 million for two seniors housing communities in Queens. In the first transaction, Harborview arranged a $6.9 million loan to refinance a 200-bed facility. A regional bank provided the financing, which features a 25-year amortization and 10-year term. Matt Hedvat and David Nussbaum originated the transaction. Harborview also arranged a $6 million loan to refinance a 262-bed assisted living facility. A regional bank provided the non-recourse loan. Eli Kutner originated …