Wednesday, November 27, 2024
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Finance

FinanceFrom The Magazine

Fannie, Freddie Stall After Restart

by Jeff Shaw

While financing sources appeared to return to form in early 2022, volatility in the capital markets ultimately throttled down deal volume in the second half of the year. By Jeff Shaw At first glance, 2022 looks like a partial return to pre-pandemic form for Fannie Mae and Freddie Mac’s deal volume within the seniors housing sector. After major downturns in 2020 and 2021, Fannie Mae’s volume rose 26 percent from $800 million in 2021 to $1 billion in 2022. Freddie Mac’s volume rose 29 percent from $2.1 billion to $2.7 …

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FinanceFrom The Magazine

Capital Corner: Seniors Housing Industry Braces for ‘Rocky’ Road Next 12 to 18 Months

by Jeff Shaw

By Matt Valley March is notoriously volatile weather-wise, but March 2023 will long be remembered as a particularly stormy month for the financial markets. The collapse of two banks over a 48-hour period early in the month hit like a bolt of lightning. Santa Clara, California-based Silicon Valley Bank, a lender to technology startups, failed following a bank run during which depositors and investors withdrew $42 billion on March 9 alone. On March 10, the bank was placed under the receivership of the Federal Deposit Insurance Corp. (FDIC). Two days …

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FinanceIndustry Voices

Broker Q&A: Capital Keeps Flowing in Uncertain Times

by Jeff Shaw

Despite a turbulent economy, many lenders have continued to put money into seniors housing as the industry’s demographics and metrics improve. Roundtable participants Michael Gehl  Chief Investment Officer, FHA Lending  NewPoint Real Estate Capital Scott Blount  Senior Managing Director VIUM Capital Bill Lewittes  Managing Director, Head of Loan Originations Kayne Anderson Real Estate Michael Coiley  Managing Director CIT Healthcare Finance Ryan Stoll  National Director of Seniors Housing and Care Bellwether Enterprise Real Estate Capital Ari Adlerstein Senior Managing Director, Co-Head of Seniors Housing Meridian Capital Group Lawrence Brin Managing Director, …

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FinanceNews

Berkadia, Live Oak Provide $86M in Bridge Lending in First Quarter

by Jeff Shaw

NEW YORK CITY — Berkadia Seniors Housing & Healthcare, in partnership with Live Oak Bank, has arranged four bridge-to-HUD loan closings totaling $86 million in the first quarter of 2023. The partnership between Live Oak Bank and Berkadia, which commenced in October 2022, has closed $143 million of bridge-to-HUD and GSE transactions, the majority of which have been structured as A/B notes with Berkadia funding the B-note. The interest-only loans typically carry terms of 24 months with rates floating over one-month term SOFR. Loans closed to date facilitated purchases and …

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AlabamaFinanceNewsSkilled Nursing

CFG Provides $84.7M in Bridge Financing for Eight-Property Portfolio in Alabama

by Jeff Shaw

ALABAMA — Capital Funding Group (CFG) has provided $84.7 million in bridge-to-HUD financing for the acquisition of seven skilled nursing facilities and one assisted living community in Alabama. The borrower is Venza Care. The portfolio totals 797 beds. Capital Funding Group’s Craig Casagrande and Andrew Jones originated the transaction.

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CaliforniaFinanceNewsSkilled Nursing

CFG Provides $10.9M HUD Refinancing for Skilled Nursing Facility in California

by Jeff Shaw

CALIFORNIA — Capital Funding Group (CFG) has provided $10.9 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing is for a 99-bed skilled nursing facility in California. Further details were not disclosed. Capital Funding Group’s Tim Eberhardt and Ava Julio originated the transaction for the company.

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FinanceIllinoisIndependent LivingNews

MidCap Provides Refinancing for 240-Unit Independent Living Community Near Chicago

by Jeff Shaw

CHICAGO — MidCap Financial has provided a floating-rate refinancing for a Class A, 240-unit independent living community in the North Shore suburbs of Chicago. The borrowers are affiliates of Harrison Street and Banner Real Estate Group. The subject property has steadily leased up since opening in 2020 and benefits from its affiliation with CJE SeniorLife and physical quality, according to MidCap. Sarah Anderson of Newmark arranged the transaction.

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FinanceIndustry VoicesInvestment

Why Now Is the Time for Lenders to Invest in Seniors Housing

by Jeff Shaw

By Taylor Mokris and Kim Huffstutler In this market, with the twin difficulties of persistent inflation and interest rate hikes, it can be a challenge to find the right real estate investment. However, as lenders work with developers, owners and operators to make deals and find quality investments, there’s one real estate sector no savvy investor should overlook: seniors housing. Now is an opportune time for new and repeat lenders alike to have conviction around their commitment to this asset class. Not only does seniors housing have strong underlying fundamentals …

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FinanceNews

M&T Realty Capital Provides $247M in Financing for Seniors Housing Properties

by Jeff Shaw

BALTIMORE — The M&T Realty Capital Corp. seniors housing team has closed a total of $247 million in financing transactions to date this year. The transactions include: $52.5 million Fannie Mae loan for a 191-unit seniors housing asset in the Nashville, Tennessee MSA. $38.4 million Fannie Mae loan for a 128-unit independent living building in the Sarasota, Florida MSA. $49.3 million Freddie Mac loan for a 179-unit seniors housing asset in Virginia. $5.3 million FHA 232/223(f) loan for a 105-bed assisted living facility in Tacoma, Washington. $101.5 million bridge-to-agency loan …

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FinanceNewsSkilled NursingWashington

CFG Funds $3.3M Bridge Loan for Two Skilled Nursing Facilities in Washington

by Jeff Shaw

WASHINGTON — Capital Funding Group (CFG) has provided $3.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Washington, feature 108 beds. Further details on the location and borrower were not disclosed. Tim Eberhardt and Ava Julio originated the transaction.

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