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Ziegler Arranges $24M Financing for Wisconsin Illinois Senior Housing

by Jeff Shaw

CHICAGO — Ziegler, a Chicago-based investment bank, has arranged $24 million in financing for Wisconsin Illinois Senior Housing (WISH), a nonprofit owner-operator. The financing comprises $22.5 million of tax-exempt bonds directly purchased by BMO Harris Bank, along with a $1.5 million taxable term loan. Proceeds of the financing will be used to refinance a series of WISH’s outstanding bonds, pay an associated prepayment penalty and pay costs of issuance. The bonds were issued through the Wisconsin Health and Educational Facilities Authority. WISH, an Illinois corporation organized in 1994, currently owns …

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Assisted LivingConnecticutFinanceNews

Lument Provides $18.9M HUD Refinancing for The Guilford House in Connecticut

by Jeff Shaw

GUILFORD, Conn. — Lument has provided an $18.9 million HUD refinancing for The Guilford House, a 96-bed assisted living and skilled nursing facility in Guilford, a coastal town 15 miles east of New Haven. The closing refinances a blended-rate loan from 2019 provided by Lument to fund an expansion of assisted living units and services. Aaron Becker, head of seniors housing and healthcare production for Lument, led the transaction. “This refinance marks the culmination of a successfully implemented plan that expanded the community’s scope of services and positions it for …

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FinanceNews

Bellwether Arranges More than $151M in Seniors Housing Loans Nationwide

by Jeff Shaw

CLEVELAND — Bellwether Enterprise Real Estate Capital LLC (BWE), a commercial and multifamily mortgage banking company based in Cleveland, has arranged five loans totaling $151 million to finance nine assisted living and memory care communities across the United States. Ryan Stoll, national director of seniors housing and care, leads BWE’s efforts to secure financing for seniors housing and care communities. The transactions include: A $64.8 million Fannie Mae loan to finance four assisted living and memory care communities across the Northeast for Bridge Investment Group. Bridge Senior Living operates the …

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DevelopmentFinanceMichiganNews

Grandbridge Arranges $30 Recapitalization for Vista Grande Villa in Jackson, Michigan

by Jeff Shaw

JACKSON, Mich. — Grandbridge Real Estate Capital’s Tampa-based seniors housing investment sales team has arranged the recapitalization of Vista Grande Villa, a 318-unit campus in Jackson, approximately 35 miles west of Ann Arbor. Vista Grande Villa is an approximately 20-acre campus comprising 32 cottage homes, 181 independent living apartments, 46 assisted living units, 23 memory care units and 36 skilled nursing units. The recapitalization plan consisted of restructuring approximately $22 million of prior debt, together with new committed funding of roughly $8 million to put toward capital investment and stabilizing the …

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CCRCDevelopmentFinanceNewsWisconsin

Ziegler Arranges $87.5M in Financing for Expansion Project at Cedar Crest in Janesville, Wisconsin

by Jeff Shaw

JANESVILLE, Wis. — Ziegler has arranged a financing package totaling $87.5 million for an expansion project at Cedar Crest, a continuing care retirement community in Janesville, approximately 40 miles southeast of Madison. The financing includes $57.5 million in fixed-rate revenue bonds and $30 million in bank debt bought by BMO Harris Bank. The Wisconsin Health and Educational Facilities Authority issued the financing. Cedar Crest currently features 135 independent living units (consisting of 102 apartments and 33 cottages), 44 assisted living units, 24 memory care assisted living units, and a skilled …

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Assisted LivingFinanceMassachusettsNews

Greystone Provides $24.8M Agency Refinancing for Seniors Housing Community on Cape Cod

by Jeff Shaw

MASHPEE, Mass. — Greystone has provided a $24.8 million Freddie Mac Optigo loan for the refinancing of a 70-unit seniors housing property in Mashpee, a town on Cape Cod. Built in 2018, Laurentide at Mashpee Commons includes studio, one- and two-bedroom units and offers assisted living and memory care services. Approximately 10 percent of the units are designated as affordable housing by the Cape Cod Housing Authority. Shailini Nehra of Greystone arranged the transaction on behalf of the owner-operator, Northbridge Cos. The fixed-rate, nonrecourse loan carries a 10-year term and …

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CaliforniaFinanceIndependent LivingNews

CBRE Arranges $15.5M Refinancing for Coastal Heights in Costa Mesa, California

by Jeff Shaw

COSTA MESA, Calif. — CBRE National Senior Housing has arranged $15.5 million in financing for Coastal Heights Senior Living, a 148-unit independent living community located in the Orange County city of Costa Mesa. The borrower was a joint venture between Capitol Seniors Housing and an institutional equity partner, which has owned the property since 2016. It was built in 1990 and has undergone $7 million in renovations since the acquisition. The operator is Integral Senior Living. Aron Will, Austin Sacco and Adam Mincberg arranged the three-year, floating-rate loan with full-term, …

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ColoradoDevelopmentFinanceMinnesotaNews

Northmarq Arranges $50M in JV Equity for Four Developments in Minnesota, Colorado

by Jeff Shaw

MINNEAPOLIS — Northmarq has secured $50 million in joint-venture equity for a four-property seniors housing development pipeline in Minnesota and Colorado. Equity was procured on behalf of the developer, Minneapolis-based United Properties. The joint-venture partner is a private equity group. The Northmarq team members that facilitated the equity and debt financing included Patrick Minea, Joel Heikenfeld, Dave Link and Stuart Oswald. All four assets are under United Properties’ Amira brand and are in various states of construction and lease-up. The projects include: Amira Bloomington, a 133-unit active adult community in …

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Assisted LivingFinanceIllinoisNews

Cambridge Provides $7.4M HUD Refinancing for Pontiac Supportive Living in Illinois

by Jeff Shaw

PONTIAC, Ill. — Cambridge Realty Capital Cos. has provided a $7.4 million HUD-insured loan for Pontiac Supportive Living, a 60-bed supportive living facility located in Pontiac, approximately 90 miles southwest of Chicago. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge chairman. Further details were not disclosed.

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FinanceNewsTexas

CBRE Arranges $54.4M Refinancing for The Village at Woodlands Waterway in Texas

by Jeff Shaw

THE WOODLANDS, Texas — CBRE National Senior Housing has arranged a $54.4 million refinancing of The Village at Woodlands Waterway in The Woodlands, a suburb of Houston. The borrowers are the Saudi Economic and Development Co. (SEDCO) and Madison Marquette. Situated on a 2.7-acre site, the community was built in 2011 and consists of 116 independent living units, 63 assisted living units and 28 memory care units for a total of 207 units. The property is in the heart of The Woodlands Town Center along The Waterway, which connects to …

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