RAVENNA, Ohio — Capital Funding has provided a $5.8 million bridge-to-HUD loan for Longmeadow Skilled Nursing and Rehabilitation Center in Ravenna, about 35 miles southeast of downtown Cleveland.
Finance
CBRE Arranges Acquisition Loan for 120-Unit Assisted Living, Memory Care Asset in Near West Palm Beach
by Jeff Shaw
PALM BEACH GARDENS, Fla. — CBRE National Senior Housing has secured financing for the acquisition of HarborChase of Palm Beach Gardens, an assisted living and memory care facility in Palm Beach Gardens, 15 miles north of West Palm Beach, Fla. The borrower is a joint venture between Silverstone Senior Living and Crescent Real Estate. An affiliate of Silverstone, in partnership with an institutional equity partner, developed the 120-unit property, which opened in 2017. On-site amenities include a virtual bowling alley, doctor’s office and an art studio. Harbor Retirement Associates will continue …
BMO Harris Healthcare Funds $21M Credit Facility to Finance Acquisition of Assisted Living, Memory Care Asset in Arizona
by Jeff Shaw
MARANA, Ariz. — BMO Harris Bank’s Healthcare Real Estate Finance group has provided a $21 million credit facility for the acquisition of Watermark at Continental Ranch, an assisted living and memory care community in Marana. The borrowers are Kayne Anderson Real Estate and Watermark Retirement Communities. Completed this year by Link Development and Watermark, the 96,000-square-foot asset features 108 assisted living and memory care beds. The property is situated on four acres in the Silverbell Corridor of Marana.
Greystone Provides $8M in Refinancing for Age-Restricted Community in Hemet, California
by Jeff Shaw
HEMET, Calif. — Greystone has provided an $8 million Fannie Mae loan for the refinancing of Casa Del Rey Mobile Homes Estates, a manufactured housing property that is age-restricted to residents 55 years old and older in Hemet. Situated on 30.6 acres in San Jacinto Valley, Casa Del Rey Mobile Homes Estates features 267 single- and double-wide pads. The community also features two clubhouses, two pools and spas, recreational and exercise facilities, as well as on-site parking, laundry facilities and a carwash area. Matt Stevens in Greystone’s San Diego office, on …