COLUMBUS, Ohio — VIUM Capital has hired Ashley Wilkens as chief underwriter. Wilkens brings over 10 years of experience in the capital markets, senior living and healthcare industries. She previously worked at B.C. Ziegler & Co. where she specialized in strategic advisory, capital formation and financing engagements for senior living and long-term care providers. In addition, she served as the chief operating officer of Ziegler Financing Corp. Industry veterans Kass Matt and Steve Kennedy, both of whom worked most recently at Lancaster Pollard, recently launched VIUM Capital. The Columbus-based company …
Finance
WICHITA, Kan. — KeyBank Community Development Lending and Investment (CDLI) has secured $10 million of construction and permanent financing for an affordable seniors housing property in Wichita. The borrower is Denver-based Steele Properties, which will use the funds to acquire and renovate Shadyway Plaza. The community was built in 1979 and features 100 one-bedroom apartments in a seven-story building. All units are reserved for seniors and disabled resident earning up to 60 percent of area median income. Monroe Group Ltd., Steele Properties’ sister company, will manage the property, which is …
LEBANON and MOUNT JOY, Pa. — BMO Harris Bank’s Healthcare Real Estate Finance group has provided a $12.3 million credit facility for Juniper Communities LLC. The facility will refinance the mortgages on Juniper Village at Lebanon and Juniper Village at Mount Joy, both located in Southeastern Pennsylvania. The Lebanon location features 40 independent living and 83 assisted living units, while the Mount Joy location features 63 assisted living units. Juniper Communities LLC currently operates 21 communities, of which 18 are owned, across Pennsylvania, New Jersey and Colorado. An affiliate of …
ANDOVER, Kan. — Dwight Capital has provided a $14 million HUD refinancing for Victoria Falls, a 164-bed assisted living and skilled nursing facility in Andover. The assisted living building and skilled nursing building — built in 2004 and 2010, respectively — are situated on 7.2 acres. Together, the Victoria Falls buildings total 106,660 square feet. Clint Miller of Dwight Capital originated the transaction.
CAPE CANAVERAL, Fla. — LV Lending, a local private lender, has provided a $4.2 million refinancing for a 7.7-acre vacant site in Cape Canaveral, along Florida’s Atlantic coast east of Orlando. The borrower, Danny Ringdahl of La Casa Canaveral LLC, plans to build a four-stor, 248-bed assisted living and memory care community on the site. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending arranged the financing. Hart Advisors Group was the broker.
Brookdale Receives $208.5M in Refinancing Loans to Extend Maturities, Complete Acquisitions
by Jeff Shaw
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD) has completed three financing transactions totaling $208.5 million to refinance the majority of the company’s near-term maturities and to partially fund recent acquisitions. On March 31, Brookdale obtained $149.3 million of mortgage financing from Capital One, pursuant to a Freddie Mac capital markets execution. The refinancing took the form of 10-year, non-recourse, fixed-rate loans in the aggregate amount of $76.2 million and 10-year, non-recourse, variable-rate loans in the aggregate amount of $73.1 million, resulting in proceeds of $13 million. “As a …
COLUMBUS, Ohio — Seniors housing and healthcare industry veterans Steve Kennedy and Kass Matt have launched a new finance venture, VIUM Capital. Based in Columbus, the company is an independent financial services firm focused on providing capital to the seniors housing and healthcare sectors. The firm will offer FHA/GNMA financing, bridge loans, and advisory services, as well as Fannie Mae and Freddie Mac agency financing. Prior to founding VIUM Capital, Matt spent 14 years at Lancaster Pollard, including the last five years as the firm’s president. Kennedy spent 18 years …
Bellwether Enterprise Provides $36.3M Refinancing for Legacy Reserve at Fritz Farm in Kentucky
by Jeff Shaw
LEXINGTON, Ky. — Bellwether Enterprise Real Estate Capital LLC has provided a $36.3 million permanent loan through Fannie Mae’s seniors housing program for the refinance of Legacy Reserve at Fritz Farm. The community opened in Lexington in summer 2017, featuring 144 independent living, 33 assisted living and 15 memory care units. The borrower is owner-operator Atlas Senior Living. John Powell of Bellwether’s Chicago office arranged the 12-year, fixed-rate loan on behalf of Atlas.
Monticello Provides $97.2M Acquisition Financing for 856-Bed Skilled Nursing Portfolio in Virginia
by Jeff Shaw
VIRGINIA — Monticello has provided $97.2 million in first lien debt financing for the acquisition of five skilled nursing properties totaling 856 beds in Virginia. The transaction also includes a $8 million working capital loan to the operating companies of the properties. Monticello’s asset-based lending group, Monticello Commercial Capital, provided that capital. The borrower is an owner-operator with a current portfolio of 1,155 licensed beds. The seller, facility names and facility locations were not disclosed.
EUGENE, Ore. — Carnegie Capital has arranged a $7.4 million refinancing for a 60-unit memory care community in Eugene. The cash-out refinancing represents a 75 percent loan-to-value ratio, and bears an interest rate of 5.55 percent for three years. Residents at the community are approximately half private pay and half Medicaid. The borrower is a regional owner-operator. The lenders are a national bank and a private lender.