Wednesday, May 1, 2024
Read the Magazine Subscribe

Finance

AcquisitionsAssisted LivingFinanceIowaNews

Jaybird Senior Living Receives $17.9M Acquisition Financing for Two Communities in Iowa

by Jeff Shaw

MASON CITY and INDIANOLA, Iowa — JLL Capital Markets has arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. The facilities, Vintage Hills in Indianola and Country Meadow Place in Mason City, total 118 units combined. Jaybird already managed both properties prior to the acquisition. JLL secured two loans totaling $17.9 million, or $151,436/unit, representing greater than 80 percent of the total purchase price. One loan was facilitated through a regional bank, while the other utilized the HUD/FHA …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingColoradoDevelopmentFinanceNews

Lument Arranges $27M Construction Financing for Mesa Verde Estates in Durango, Colorado

by Jeff Shaw

DURANGO, Colo — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango.  Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsFinanceNews

Capital Funding Group Finishes 2023 with $1.7B in Lending Volume

by Jeff Shaw

BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, executed or arranged more than $1.7 billion in financing across 50 deals in 2023.  The transactions included 34 healthcare bridge-to-HUD loans, five multifamily bridge loans, and 11 HUD loans. The multifamily bridge-to-HUD loans totaled approximately $49.7 million of the company’s annual financing.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsWashington

CFG Arranges $15.4M Financing for Truewood by Merrill, First Hill in Seattle

by Jeff Shaw

SEATTLE — Capital Funding Group (CFG) has arranged a $15.4 million bridge loan to refinance debt on Truewood by Merrill, First Hill, a 98-unit independent living, assisted living and memory care community in Seattle.  CFG closed the financing on behalf of the joint-venture ownership. Further details were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFinanceNewsPennsylvania

HumanGood Receives $26.5M HUD Financing for Green Retrofit Projects in Philadelphia 

by Jeff Shaw

PHILADELPHIA — The U.S. Department of Housing and Urban Development (HUD) has awarded HumanGood $26.5 million in financing from the Green and Resilient Retrofit Program (GRRP), which provides funding for direct loans and grants to HUD-assisted multifamily properties to make sustainability updates.  The following HumanGood affordable housing communities in Philadelphia were the only properties in Pennsylvania to receive the award in the comprehensive category in its first wave: The funds will help HumanGood meet sustainability goals, assisting in the renovation and preservation of 329 affordable seniors housing units. President Biden’s …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaFinanceNews

BMO Healthcare Real Estate Arranges Refinancing for Two Belmont Village, Harrison Street Properties in Southern California

by Jeff Shaw

ALBANY and CALABASAS, Calif. — BMO Healthcare Real Estate Finance acted as lead arranger and administrative agent on a term loan refinancing for two seniors housing communities located in Southern California. The two Class A communities are Belmont Village Calabasas in Calabasas and Belmont Village Albany in Albany and offer a combined total 315 units. The borrowers are the operator, Belmont Village Senior Living, and its capital partner, Harrison Street.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsPeople

Emerald Communities Promotes Denisa Feddersen to Chief Financial Officer

by Jeff Shaw

REDMOND, Wash. — Emerald Communities, a Redmond-based nonprofit operator serving Emerald Heights and Heron’s Key, announced the promotion Denisa Feddersen from corporate controller to vice president and chief financial officer.   Feddersen will be responsible for the overall strategic and operational aspects of finance, accounting and IT. She will work closely with the organization president, senior management, board of directors, residents and numerous outside consultants and partners to ensure Emerald Communities meets its financial and business goals. Feddersen has over two decades of experience in accounting and finance with many years …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsFinanceNews

M&T Has Record Year of Seniors Housing Lending Activity in 2023

by Jeff Shaw

BALTIMORE — M&T Realty Capital Corp., a wholly owned subsidiary of M&T Bank specializing in providing financing nationwide for commercial real estate, had record 2023 production volume for its seniors housing team. The group is ranked as the No. 1 Fannie Mae DUS producer for seniors housing and the No. 2 Freddie Mac seniors housing lender for 2023. Last year, the seniors housing team financed 32 properties in 11 states totaling $575 million in closed loans. Leveraging Fannie Mae, Freddie Mac, FHA and bridge lending as sources, the group financed …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingArizonaDevelopmentFinanceNews

Dominium Receives $354.2M Financing Package for Two Affordable Housing Projects in Glendale, Arizona

by Jeff Shaw

GLENDALE, ARIZ. — Merchants Capital has arranged more than $86.2 million in Freddie Mac 4 percent Low-Income Housing Tax Credit (LIHTC) Tax-Exempt Loan (TEL) forwards for the construction of Juniper Square, an affordable seniors housing community, and 67 Flats, an affordable family housing development, both in Glendale. Dominium Inc. is developing the two communities. The properties will maintain affordability through 2053, which will restrict all units to residents earning 60 percent or less of the area median income. The Freddie Mac permanent financing comprises $29.8 million for Juniper Square and $56.3 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Active AdultCaliforniaDevelopmentFinanceNews

JLL Capital Markets Arranges $51.1M in Construction Financing for Active Adult Project in Danville, California

by Jeff Shaw

DANVILLE, Calif. — JLL Capital Markets has arranged $51.1 million in construction financing for a 50-unit active adult condominium development in Danville, located in the San Ramon Valley east of the Bay Area. Matt Cimino and Jordan Angel of JLL represented the borrowers, Jeff Stone of Diamond Construction and three high-net-worth individuals, in securing the financing from a Southern California-based lender. Located at 375 W. El Pintado, the development will feature 13 one-bedroom, 29 two-bedroom and eight three-bedroom condominium-style units. Community amenities include a lounge, game area, library, rooftop terrace …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts