Feds delay permanent continuation of ‘immigrant investor’ program until December
Finance
SIERRA MADRE, Calif. — RED Capital Group has arranged a $29 million Fannie Mae loan for Kensington SM GP LLC, which will use the capital to refinance The Kensington Sierra Madre, a luxury assisted living and memory care community in the Los Angeles suburb of Sierra Madre.
WALLA WALLA, Wash. — Walker & Dunlop Inc. (NYSE: WD) has arranged a $25 million loan for Wheatland Village, an independent living, assisted living and memory care community in Walla Walla, located in the southeastern corner of Washington near the Oregon border. The loan consolidates two existing loans on the property.
ATLANTA — SunTrust Banks Inc. (NYSE: STI) has signed a definitive agreement to acquire all of the assets of the operating subsidiaries of Pillar Financial LLC. The assets include Pillar’s multifamily lending business, which comprises affordable housing, healthcare properties, seniors housing and manufactured housing specialty teams.
ATLANTA — Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group has arranged $125 million in financing for the acquisition of four independent living communities in four states. Details on the buyer, seller and specific communities were not disclosed.