ATKINSON, Wis. — Walker & Dunlop has arranged a $14.7 million refinancing for Reena Senior Living, an 80-unit/80-bed assisted living and memory care facility in Fort Atkinson, approximately midway between Milwaukee and Madison. Walker & Dunlop’s Kevin Giusti and Matthew Lund led the team in closing the HUD loan. The borrower was Tukka Properties. The property consists of a three-story assisted living building built in 2016 and a one-story memory care addition built in 2019.
LA GRANGE PARK, Ill. — Ziegler has arranged $99.9 million in bond financing for Plymouth Place. The continuing care retirement community is located in La Grange Park, a village approximately 13 miles west of downtown Chicago. Plymouth Place features 182 independent living units, 52 assisted living units, 26 memory care units and 82 skilled nursing beds. Plymouth Place was incorporated in 1939 and is located on approximately 18.6 acres. The Illinois Finance Authority issued the bonds, which will be used for an expansion at the community. Known as The Arboretum …
In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future. The Dec. 8 panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, delved into tough topics like wages and staffing; inflation; the costs of debt and equity; government reimbursement; and other economic factors to illuminate what we can expect in 2023. Tune in …
TAVARES, Fla. — Greystone has provided an $11.9 million Fannie Mae Multifamily Affordable Housing (MAH) loan for the acquisition of a senior living community in Tavares, a northwestern suburb of Orlando. Carter King, managing director in Greystone’s Atlanta office, originated the transaction. Hallmark Lakepoint Senior LLC was the borrower. Constructed in 2006, Lake Point Senior Apartments is a 160-unit, LIHTC, age-restricted, three-story apartment complex. The seller and total price were not disclosed. The non-recourse, fixed-rate financing carries a 10-year term and 35-year amortization.
CHICAGO — NewPoint Real Estate Capital LLC has hired Christopher Honn as managing director of seniors housing originations. Based out of Chicago, Honn will work to expand the firm’s seniors housing and healthcare platform, with an emphasis on agency loan solutions. Honn brings more than 35 years of seniors housing and healthcare originations and underwriting experience to NewPoint. He has built several production platforms and leverages a track record of executing for nonprofit and for-profit clients on a national basis. Prior to joining NewPoint, Honn served as a managing director …
DALLAS — JLL Capital Markets has arranged a $175 million refinancing for a six-property seniors housing portfolio totaling 821 units across the Southeast. The portfolio offers a mix of independent living, assisted living and memory care units. Five of the properties are recently completed and the sixth, a second phase to its adjacent sister property, is currently under construction. The properties are positioned in high-growth markets with strong demographics and forecasted growth in the senior population. The communities are near major retail, entertainment, healthcare and professional centers, as well as …
WESTMONT, Ill. — Cambridge Realty Capital Cos. has provided a $18.1 million HUD Lean loan to refinance Bria of Westmont, a skilled nursing facility in Westmont, approximately 20 miles west of downtown Chicago. Andrew Erkes, Cambridge President, said Cambridge provided the fully amortized, 35-year loan to an Illinois limited liability company. Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans, underwrote the loan. Bria of Westmont is a 215-bed skilled nursing facility. It provides a range of skilled services and programs, including short-term …
DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992, the property serves over 360 residents across 154 apartments, 81 cottages (235 total independent living units), 32 assisted living units and 58 licensed skilled nursing beds. To address the changing needs of existing and future residents, The Forest at Duke adopted a strategic plan that included two phases. Phase I, …
COMMERCE, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.3 million loan for the refinancing of Brookside Commerce, an assisted living facility in Commerce, approximately 70 miles northwest of Atlanta. The 62-bed community includes 12 independent living units. It is 3.5 miles from Northridge Medical Center, a full-service community hospital. Robert Bhat, based out of the MMCC Miami office, led the transaction. “Brookside Commerce was acquired in September 2019,” says Bhat. “We were able to secure a 35-year HUD loan to refinance the asset and provide cash …
VIRGINIA BEACH, Va. — National Health Investors Inc. (NYSE: NHI) has funded a $42.5 million senior loan to refinance a portfolio of skilled nursing facilities located in Texas. The borrower is Capital Funding Group and the properties are leased by subsidiaries of The Ensign Group Inc. The five-year loan has an annual interest rate of 7.25 percent with two one-year extensions. NHI also announced that it has exercised its purchase option to acquire Bickford of Virginia Beach, a 60-unit assisted living and memory care community in Virginia Beach. The acquisition …
