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DevelopmentFinanceIndependent LivingNewsWashington

Ziegler Arranges $62.4M Financing for Parkshore Juanita Bay in Kirkland, Washington

by Jeff Shaw

KIRKLAND, Wash. — Ziegler has arranged $62.4 million in bond financing for Parkshore Juanita Bay, a 50-unit independent living community in the Seattle suburb of Kirkland. The borrower was originally founded in 1932 to provide housing and care for German seniors. In 1977, the organization constructed an assisted living retirement home known as The Gardens at Juanita Bay in Kirkland’s historic Juanita Bay neighborhood on the shores of Lake Washington.  In December 2018, the community affiliated with Presbyterian Retirement Communities Northwest, now known as Transforming Age. In 2021, management announced …

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Town Village Vestavia Hills
AlabamaFinanceIndependent LivingMichiganNewsOklahomaTennessee

JLL Arranges $115M Bridge Financing for Town Village Independent Living Portfolio 

by Jeff Shaw

DUBLIN, Ohio — JLL Capital Markets has secured a $115 million bridge financing for a portfolio of four Town Village independent communities totaling 852 units spanning across Alabama, Tennessee, Oklahoma and Michigan. JLL represented the borrowers, Chicago Pacific Founders and Grand Park Capital, in arranging the three-year, nonrecourse loan through Ally Bank. The properties were built between 2000 and 2002 and have all undergone renovations by the borrowers.  Jay Wagner, Rick Swartz, Joel Mendes, Dan Kearns, Jim Dooley and Robert Tonnessen led the JLL team.

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FinanceNewsOhioSkilled Nursing

CFG Provides $12.5M Bridge Loan for Skilled Nursing Facility in Ohio

by Jeff Shaw

OHIO — Capital Funding Group (CFG) has provided a $12.5 million bridge-to-HUD loan, which supported the refinancing of an existing bridge loan.  The subject property is a 175-bed skilled nursing and assisted living facility in Ohio. Further details were not disclosed.  Craig Casagrande of CFG originated the transaction.

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FinanceMinnesotaNews

Berkadia Arranges Refinancing for 283-Unit The Pillars of Prospect Park in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Berkadia has arranged the refinancing of The Pillars of Prospect Park, a 283-unit seniors housing community in Minneapolis.  Austin Sacco and Steve Muth of Berkadia Seniors Housing & Healthcare secured bridge financing through a national bank on behalf of Harrison Street and Oppidan. The amount of the financing was not disclosed. The three-year bank loan features three years of interest-only payments. The property affords convenient access to downtown Minneapolis, the University of Minnesota Medical Center and Midland Hills Country Club. The Pillars of Prospect Park was built in …

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CaliforniaFinanceNews

JLL Arranges $52M Refinancing for Atria Newport Beach in California

by Jeff Shaw

NEWPORT BEACH, Calif. — JLL has arranged $52 million in refinancing for Atria Newport Beach, a seniors housing community located at 393 Hospital Road in Newport Beach. The borrower is a partnership between a national REIT and Atria Senior Living. Aaron Rosenzwieg and Dan Baker of JLL Capital Markets arranged the financing. MidCap Financial provided the floating-rate, first-mortgage loan. Built in two phases with the north building fully renovated in 2023 and the south building purpose-built and opened in 2021, the three-story buildings offer a total of 168 studio, one- …

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FinanceMarylandNews

Berkadia Arranges $47.4M Financing for Modena Reserve at Kensington in Maryland

by Jeff Shaw

KENSINGTON, Md. — Berkadia has arranged a $47.4 million loan for Modena Reserve at Kensington, a 135-unit seniors housing community in Kensington, a suburb north of Washington, D.C.  The borrowers are Solera Senior Living, McCaffery and an institutional investor. A debt fund provided the capital. Steve Muth and Austin Sacco of Berkadia Seniors Housing & Healthcare led the transaction. The three-year, nonrecourse loan features interest-only payments throughout the term. The loan refinances a maturing construction loan.  The community opened in late 2021 and reached stabilized occupancy within 24 months.

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AcquisitionsFinanceNewsSkilled NursingTexas

Oxford Finance Provides $47M Credit Facility to Creative Solutions in Healthcare Inc.

by Jeff Shaw

FORT WORTH, Texas — Oxford Finance LLC has provided a $47 million senior credit facility to Creative Solutions in Healthcare Inc., a Fort Worth-based seniors housing investor. Funds drawn at closing were used to finance the acquisition of two skilled nursing facilities in Texas, totaling 228 beds. Additionally, the credit facility includes a substantial delayed draw commitment, providing the company with the flexibility to finance future acquisitions. Creative Solutions in Healthcare is a family-owned company with more than 170 long-term care communities throughout the state of Texas.

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Manor & Villages, Jenison, Mich.
FinanceMichiganNews

Ziegler Arranges $52.1M Bond Financing for Sunset Manor Owner-Operator in Michigan

by Jeff Shaw

JENISON, Mich. — Ziegler has arranged $52.1 million in bond financing for Sunset Manor Inc., a nonprofit owner-operator based in the West Michigan city of Jenison. Sunset Manor was established in 1973 to care for the elderly residents of West Michigan and beyond. Sunset owns and operates four facilities in Jenison, Grandville and Grand Haven. Per the 2023 LeadingAge Ziegler 200, Sunset Manor is the 138th largest nonprofit senior living provider in the nation with a total of 696 units consisting of 384 independent living units and 312 assisted living units. …

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FinanceNewsPeople

Cushman & Wakefield Hires Matthew Yance as Director in Senior Living Practice

by Jeff Shaw

NEW YORK CITY — Cushman & Wakefield has hired Matthew Yance as a director for the firm’s valuation and advisory group as part of the senior living and care specialty practice. Based out of the firm’s New York office, Yance will focus on institutional valuations and market studies across the United States. Yance has nine years of experience focusing on the senior living sector. Previously, he was at Newmark, where he co-led the senior housing and healthcare team. In that position he oversaw a team of appraisers focused on the …

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