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 …
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.
TEXAS — VIUM Capital has arranged a $10.8 million bridge-to-HUD loan to recapitalize two skilled nursing facilities. The properties, both located in Texas, total 136 beds. Further details were not disclosed.
TEXAS — VIUM Capital has provided $27 million in bridge-to-HUD financing for two skilled nursing facilities totaling 240 beds in Texas. The terms include a purchase option for the first facility, and refinances $6.8 million in debt on the second. The names, locations and borrower were not disclosed. The financing is full recourse, lowering to 50 percent recourse upon submission of the HUD application.
COLUMBUS, Ohio — Seniors housing and healthcare lender VIUM Capital and its joint-venture partner Merchants Bancorp, along with ATLAS SP Partners as structuring agent and sole bookrunner, have completed a securitization referencing over $1.1 billion of first-lien, floating-rate skilled nursing and seniors housing bridge loans. In this transaction Merchants Bank issued and sold $158 million aggregate principal balance of senior credit linked notes representing approximately 14 percent of the reference pool. Merchants Bank’s wholly owned subsidiary, Merchants Capital Corp., will continue to service the loans. Through this transaction it is …
SUNRISE, Fla. — Capital Funding Group has provided a $27.2 million construction loan for the conversion of a partially completed hotel in South Florida to a 191-unit assisted living community. The property is located at 3003 N. University Drive in Sunrise, about 10 miles west of Fort Lauderdale. The borrower, YMP Real Estate Management, will use $7.4 million of the financing to complete the shell construction. YMP will also manage the seniors housing community when it opens. The construction timeline was not disclosed.
HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to …
NEW YORK CITY — Newmark Group Inc. (NASDAQ: NMRK), a full-service commercial real estate business, has named Chad Lavender as president of capital markets for the company’s operating businesses in North America. Lavender will serve on the company’s executive committee, the corporate management steering committee, and reports to Newmark’s newly formalized Capital Markets Executive Committee. Lavender is responsible for driving the overarching strategy and revenue growth of the capital markets business for every asset type, including multifamily, office, industrial, retail and alternative investment classes. He will advise on recruiting and …
HANOVER, N.H.; WINDHAM, N.H.; WOODSTOCK, Vt.; and WHITE RIVER JUNCTION, Vt. — Walker & Dunlop has provided a $46 million HUD 232/223(f) refinancing for four Terrace-branded seniors housing communities in New England. Walker & Dunlop’s Frank Cassidy led the team in refinancing a bridge loan that the Walker & Dunlop team previously arranged in December 2020 to facilitate a partner buyout and re-leverage the portfolio. The bridge loan was structured as eligible debt in anticipation of the HUD takeout. The portfolio refinancing comprised: Wheelock Terrace, a 70-unit assisted living facility …
It’s an open question whether the Federal Reserve will raise the federal funds rate for a ninth consecutive time when it convenes March 21-22 following the collapse of Silicon Valley Bank and Signature Bank and the downgrade of the U.S. banking system by Moody’s Investors Service. Citing a “rapidly deteriorating operating environment” despite regulators’ efforts to shore up the industry, Moody’s early this week downgraded the U.S. banking system to negative from stable. Beth Mace, chief economist and director of outreach for the National Investment Center for Seniors Housing & …