Tuesday, November 26, 2024
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Finance

FinanceNewsOhio

Ziegler Arranges $59.9M Bond Financing for Ohio Living

by Jeff Shaw

WESTERVILLE, Ohio — Ziegler has arranged $59.9 million in bond financing for Ohio Living, a Westerville-based nonprofit operator of 12 seniors housing communities in Ohio. Bond proceeds will be used to refund existing bank debt, terminate an interest rate swap agreement, fund a debt-service reserve fund equal to approximately one year of debt service, fund approximately $3 million of capital expenditures and pay certain costs of issuance associated with the financing.  The bonds consist of tax-exempt, fixed-rate serial and term bonds with an 18-year final maturity. The financing includes a …

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FinanceNewsPeople

Newmark Hires Debt and Structured Finance Expert John Ward

by Jeff Shaw

NEW YORK CITY — Newmark has hired John Ward as vice chairman of its multifamily capital markets group.  Based in New York, Ward specializes in the origination of debt products for multifamily and other commercial assets nationwide, including Fannie Mae, Freddie Mac, FHA/HUD, CMBS, life company, banks, preferred equity/mezzanine and bridge loan executions. With more than three decades of commercial real estate development, valuation and debt origination experience, Ward has placed and structured over $15 billion in capital through varying executions and capital structures for an array of property types. …

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FinanceNew YorkNewsSkilled Nursing

Berkadia Provides $62.1M HUD Loan for 320-Bed Skilled Nursing Facility in New York City

by Jeff Shaw

NEW YORK CITY — Berkadia has provided the financing of a 320-bed skilled nursing facility in New York City.  Ed Williams and Richard Price of Berkadia Seniors Housing & Healthcare secured a $62.1 million 232/223(f) HUD insured loan on behalf of the Northeast-based borrower. The 80 percent loan-to-value financing included a term of 35 years. Proceeds from the financing were used to pay off existing commercial bank debt as well as transaction costs. “As an integral part of Northeast-based operator portfolio, this is another premier facility which has long served …

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ColoradoFinanceMemory CareNews

Berkadia Arranges $14.4M Bridge Loan for Memory Care Community in Colorado Springs

by Jeff Shaw

COLORADO SPRINGS, Colo. — Berkadia has arranged the financing of a 72-bed memory care facility in Colorado Springs.  Jay Healy and Andrew Lanzaro of Berkadia Seniors Housing & Healthcare secured a $14.4 million bridge loan to retire the existing construction debt and transaction costs. Berkadia Seniors Housing & Healthcare was able to offer an 18-month, floating-rate, bridge-to-HUD loan to allow the borrower enough time to continue improving NOI to a level that will support a HUD refinancing. Berkadia Seniors Housing & Healthcare anticipates submitting the HUD application within 12 months. …

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CCRCDevelopmentFinanceNewsSouth Carolina

Ziegler Arranges $212.9M Bond Financing for Seafields at Kiawah Island in South Carolina

by Jeff Shaw

KIAWAH ISLAND, S.C. — Ziegler has arranged $212.9 million in bond financing for Seafields at Kiawah Island, located on Kiawah Island, a resort town south of Charleston. The borrower is Kiawah Life Plan Village Inc. (KLPV), a South Carolina nonprofit corporation that was formed on Dec. 7, 2020, to develop, own, and operate a continuing care retirement community on approximately eight acres. The community will feature 90 independent living units and 16 assisted living units.  Seafields is located adjacent to Freshfields Village, which is an open-air pedestrian village with a …

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Active AdultFinanceNews

Walker & Dunlop Arranges $390M in Financing for 10 Active Adult Communities

by Jeff Shaw

BETHESDA, Md. — Walker & Dunlop, a Bethesda-based financial services company, has arranged $390 million in financing for 10 active adult communities over the past year. Matt Wallach, Stephen West and Walker Layne led the Walker & Dunlop capital markets teams. The debt capital was sourced through Freddie Mac, Fannie Mae, HUD, life insurance companies, banks and debt funds. According to the U.S. Active Adult Community Market Size, Share & Trends Analysis Report by Gender and Segment Forecasts, the U.S. active adult community market size is estimated to reach $805 billion by …

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FinanceNewsPeople

Newmark Expands Finance Group with Hire of Bill Fishel

by Jeff Shaw

LOS ANGELES — Newmark has hired capital markets debt and structured finance veteran Bill Fishel as executive vice chairman.  Fishel specializes in raising debt and equity capital for institutional-grade assets and developments across North America, with a particular focus on structured finance. He will report to Chad Lavender, president of capital markets for North America at Newmark. In his 14-year career, Fishel has executed over $15 billion in financing for a wide range of asset classes, including retail, office, multifamily, industrial, hospitality, single tenant, land and data center properties. His …

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Assisted LivingDevelopmentFinanceNew YorkNews

Greystone Provides $25.2M Construction Financing for Mansion-to-Seniors Housing Conversion in Bay Shore, New York

by Jeff Shaw

BAY SHORE, N.Y. — Greystone has provided $25.2 million in HUD financing for the conversion of a historic mansion in the Long Island hamlet of Bay Shore into an assisted living and memory care community. The project owners, Charles Ferraro and Nicholas Racanelli, recognized the south shore market as being underserved with quality assisted living and memory care services, and developed a plan to reimagine the original Gulden family homestead, Netherbay, into a state-of-the-art care facility that preserves the character of the 1800s mansion and estate grounds. The Gulden family …

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FinanceM&T Realty Capital CorporationNews

M&T Provides $434.7M in Financing for 18 Seniors Housing Properties 

by Jeff Shaw

BALTIMORE — M&T Realty Capital Corp., a Baltimore-based subsidiary of M&T Bank has closed a total of $434.7 million in loans during the first six months of 2023. The loans are for senior living properties, health and rehabilitation centers and retirement communities in the South, Southwest and Northwest. M&T financed 18 properties in eight states across the entire acuity spectrum from standalone independent living to skilled nursing. Loans and amounts include the following: The M&T seniors housing team includes Matt Pipitone, Nick Gent and Matt Henning. Details on the properties …

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FinanceNews

CFG Funds $410M in Loans in First Half of 2023

by Jeff Shaw

BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has financed $411.2 million across 27 deals in the first half of this year.  This financing included 19 healthcare bridge loans, five multifamily bridge loans and three HUD loans. Financing of the multifamily bridge loans totaled $49.7 million of the company’s January to June financing. A list of transactions closed in the first half of 2023 includes:

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