BALTIMORE — Capital Funding LLC has closed two loans for assisted living facilities: a Bridge-to-HUD loan for the acquisition of Hidden Oaks Assisted Living and a Bridge-to-HUD loan for the cash out refinance of Lamplight Inn of Fort Wayne.
Finance
KENSINGTON, Md. — Prudential Mortgage Capital Company, the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: PRU), has provided a $41 million loan to Fountain Square Properties to refinance Kensington Park, a Class A independent, assisted and memory care community located in Kensington, Md.
TOLEDO, Ohio — Health Care REIT, Inc. (NYSE: HCN) has priced its underwritten public offering of 17 million shares of common stock at $75.50 per share. HCN granted the underwriters an option to purchase up to an additional 2.5 million shares during the next 30 days.
Maintaining viable health under increasing pressures By Martin Cauz Nursing care facilities need to have the necessary human and financial capital to deliver the highest quality of care to residents. To say that nursing care facilities in the United States are currently facing tremendous financial pressures would be an understatement.
ST. PAUL, Minn. — Dougherty Mortgage has arranged a $5.1 million Fannie Mae loan for the refinancing of Riverview Highlands, a 54-unit seniors housing property in St. Paul. The 12-year loan includes a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower Riverview Highlands LLC.
BETHESDA, Md. — MidCap Financial, a specialty finance firm focused on the middle market in North America and Europe, has closed a $50 million transaction with Rice Health Care Centers, Inc. The loan is secured by 22 seniors housing and skilled nursing facilities on 16 distinct campuses throughout Wisconsin, and one in Michigan.