TEXAS — Nick Skarich, Steven Marx, Corley Audorff and Josh Williams of Colliers Mortgage have arranged an $11.8 million bridge loan for the acquisition of three skilled nursing facilities in Texas. The facilities, which participate under the Texas Quality Incentive Payment Program, total 358 licensed beds. The loan includes $3.5 million for renovations. The loan carries a three-year term with two 12-month extensions and an interest-only payment period. No further information was disclosed.
WISCONSIN — VIUM Capital has funded a $6.2 million bridge loan for a 62-unit assisted living and memory care community in Northeast Wisconsin. The borrower used the funds to acquire the property and further build on its existing portfolio in Wisconsin. Further details were not disclosed.
NASHVILLE, Tenn. — CBRE has arranged an undisclosed amount of financing for construction of The Crestmoor at Green Hills in Nashville. A joint venture between Bridgewood Property Co. and Harrison Street are developing the property, which is slated to rise 12 stories on a one-acre plot in the Green Hills neighborhood. The development will feature 117 independent living units, 45 assisted living units and 29 memory care units. Aron Will and Tim Root of CBRE National Senior Housing arranged the five-year construction loan through a regional bank. Bridgewood’s wholly owned …
LAKEWOOD, Colo. — Ziegler and M&T Realty Capital Corp. have acted as financial advisor in a $19.5 million Fannie Mae financing on behalf of Essex Communities. The transaction will refinance the existing debt on Carmel Oaks, an age-restricted independent living community in Lakewood. The 10-year, fixed-rate loan was structured at a 75 percent loan-to-value ratio with five years of interest-only payments followed by a 30-year amortization. The loan also carried a declining prepayment schedule, which will provide the borrower with additional flexibility in future years. In addition to refinancing the …
FLORIDA — VIUM Capital has provided a $5.4 million acquisition loan for a 60-bed skilled nursing facility in Florida. Elevation Group was the borrower, and the total purchase price was $6.8 million. The seller, name of the property and location of the property were not disclosed.
FLORIDA — VIUM Capital has provided a $61.6 million loan for the acquisition of a three-property skilled nursing portfolio in Northeast Florida. The portfolio totals 357 beds. The financing features a potential earn-out of $6.7 million. Further details were not disclosed.
RALEIGH, N.C. — KeyBank Real Estate Capital has provided a $53.1 million Fannie Mae loan from Fannie Mae for Waltonwood Lake Boone, a 181-unit seniors housing community in Raleigh. The property offers independent living, assisted living and memory care units. Charlie Shoop of KeyBank arranged the 10-year, fixed-rate loan on behalf of the borrower, Singh Development, a real estate developer with offices in Raleigh and West Bloomfield, Mich. The financing recapitalizes a loan that KeyBank’s Healthcare Group originated in 2019, a year after Waltonwood Lake Boone opened.
COLORADO — VIUM Capital has provided $47.7 million in bridge financing for the acquisition of seven skilled nursing facilities in Southwest Colorado. The portfolio totals 558 beds. Further details were not disclosed.
PORTLAND, Ore. — Ziegler has arranged a $42.4 million Cinderella bank placement, as well as a $7 million taxable revolving line of credit, for Rose Villa, a continuing care retirement community in Portland. Situated on 21.5 acres, the community currently features 261 independent living homes, 16 nursing beds and 16 residential care beds. In addition, Rose Villa’s Phase III project adding 41 new independent living homes and a replacement supportive care neighborhood has come online with move-ins beginning in July 2022. Phase III was fully presold. Truist Bank will provide …
SALINA, Kan. — Lument has provided a Fannie Mae DUS loan to refinance Eaglecrest Retirement Community in Salina. Located approximately 180 miles west of Kansas City and 90 miles north of Wichita, the community features 102 units of independent living and assisted living. The operator is Midwest Health and it was built in 2004. Lument Managing Directors Bill Wilson, Doug Harper and Casey Moore led the transaction.