CBRE National Senior Housing has arranged an $18.3 million construction loan for a joint venture between Pathway Senior Living and Virtus Real Estate Capital. The joint venture will build Azpira Place of Lake Zurich, a 120-unit assisted living community in the Chicago suburb of Lake Zurich.
Finance
Contemporary Healthcare Capital Provides $1.5M Acquisition Loan for Community in Kansas
by Jeff Shaw
ELKHART, Kan. — Contemporary Healthcare Capital LLC has provided a $1.5 million senior mortgage loan to a Colorado-based operator for the acquisition of a 103-bed skilled nursing facility and assisted living facility in Elkhart, a small town near the Oklahoma and Colorado borders.
CLEARFIELD, Utah — RED Mortgage Capital, the proprietary mortgage banking arm of RED Capital Group LLC, has closed an $11.1M Fannie Mae loan for MBK Senior Living to refinance Chancellor Gardens of Clearfield, an assisted living and memory care community in Clearfield about 25 miles north of Salt Lake City.
Berkadia Commercial Mortgage doubles its seniors housing lending volume in just two years
by Jeff Shaw
Berkadia Commercial Mortgage’s seniors housing loan portfolio has expanded dramatically in the last few months. Acquired in 2009 as a 50/50 joint venture between Leucadia National Corp. and Berkshire Hathaway, Berkadia currently services nearly $7 billion in seniors housing assets.