AURORA, Ill. — Walker & Dunlop Inc. has arranged a $14.6 million loan for the refinancing of The Vistas Fox Valley in Aurora. The 136-bed skilled nursing facility offers full medical support and rehabilitation services for seniors age 65 and older. Amenities include an onsite spa and salon, dining services, transportation options, family lounges and 24-hour medical assistance. Joshua Rosen of Walker & Dunlop led the origination team. The HUD loan will replace existing debt previously provided by Walker & Dunlop’s bridge lending program.
Finance
Lancaster Pollard Provides $16.9M Refinancing for Assisted Living Community Near Chicago
by Jeff Shaw
BATAVIA, Ill. — Lancaster Pollard Mortgage Co., a division of ORIX Real Estate Capital, has provided a $16.9 million HUD refinancing for Heritage Woods of Batavia, a 148-unit affordable assisted living community in the Chicago suburb of Batavia. The borrower is Gardant Management. Brett Murphy led the transaction for Lancaster Pollard.
BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, had a record-setting first half of 2020, financing more than $600 million. CFG’s closed 27 bridge-to-HUD loans, 23 HUD loans and six lines of credit. The company recently launched a new off-balance-sheet financing program that will allow it to increase its lending capacity.
DALLAS — Lancaster Pollard Mortgage Co. has arranged a $20.8 million refinancing for a skilled nursing and memory care community in the Lake Highlands neighborhood of Dallas. The loan refinanced the existing debt and reimbursed the ownership group in excess of $1 million for recent capital improvements at the community. Kyle Hemminger led the transaction for Lancaster Pollard.
LONGVIEW, Texas — Cambridge Realty Capital Cos. has provided a $3.9 million HUD Lean loan to refinance Summer Meadows, a 115-bed skilled nursing care facility in Longview. The fully amortized, 29-year loan was arranged for the owner, a New York limited liability company, using the HUD Section 232 pursuant to Section 223(a)(7) funding program. Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans, underwrote the transaction.
Monticello Provides $3M in Working Capital for 336-Bed Skilled Nursing Portfolio in Tennessee
by Jeff Shaw
TENNESSEE — Monticello has provided a $3 million working capital loan to the operating companies of two skilled nursing properties totaling 336 beds in Tennessee. The borrower is an owner and operator with a current portfolio of 8,752 licensed beds and has an established relationship with Monticello.
Lancaster Pollard Provides $17.2M HUD Refinancing for Aaron Manor in Fairport, New York
by Jeff Shaw
FAIRPORT, N.Y. — Lancaster Pollard has provided $17.2 million in financing for Aaron Manor Rehabilitation and Nursing Center, a 142-bed skilled nursing facility in Fairport, a village east of Rochester. The FHA Sec. 232/223(f) loan will refinance several types of acquisition loans into a single payment structure. The new financing is nonrecourse and features a fixed rate. The current owner bought the property in 2018 and improved the operations and financial performance at the facility. Miles Kingston led the transaction for Lancaster Pollard, a division of ORIX Real Estate Capital.
HOLDEN, Mass. — Lancaster Pollard Mortgage Co. has arranged a HUD loan totaling $16.2 million to refinance Holden Rehabilitation and Skilled Nursing Center in the Worcester suburb of Holden. The borrower is Oriol Health Care, which build the 123-bed facility in 1965. The transaction allows Oriol to secure long-term financing consolidated with one lender and implement repairs at the facility. Aaron Becker and Adam Walter led the transaction for Lancaster Pollard.
Ziegler Places $53M Bank Financing for Pleasant View Communities Expansion in Pennsylvania
by Jeff Shaw
MANHEIM, Pa. — Ziegler has arranged $53 million in financing for Pleasant View Communities, which operates a continuing care retirement community in the South Central Pennsylvania borough of Manheim. Originally built in 1954, the community currently features 152 independent living apartments and cottages, 95 personal care units and 115 skilled nursing beds. The loans will fund two expansions. The first project, West Lawn Apartments, will consist of two buildings containing 18 independent living units located on Pleasant View’s existing campus. The second project, the Lofts at Lititz, will consist of …
Monticello Provides $41M in Financing for 336-Bed Skilled Nursing Portfolio in Tennessee
by Jeff Shaw
TENNESSEE — Monticello has provided $41 million to refinance two skilled nursing properties totaling 336 beds in Tennessee. The names and specific locations of the properties were not disclosed The borrower is an experienced owner and operator with a current portfolio of 8,752 licensed beds. Prior to this deal, Monticello financed the sponsor’s acquisition of a number of facilities over the last several years in multiple transactions.