Monday, November 25, 2024
Read the Magazine Subscribe

Finance

AcquisitionsCCRCFinanceNew JerseyNews

Ziegler Arranges $42.5M Acquisition Financing for Applewood CCRC in Freehold, New Jersey

by Jeff Shaw

FREEHOLD, N.J. — Ziegler has arranged $42.5 million in bond financing for FellowshipLIFE, a nonprofit owner-operator of continuing care retirement communities (CCRCs) in New Jersey. The borrower will use the funds to acquire Applewood, a CCRC formerly owned by CentraState Healthcare System in the North Jersey town of Freehold.  Located on approximately 44 acres, Applewood opened in 1990 and offers a full continuum of care to its long-time residents. Applewood offers 300 independent living units, 37 assisted living units, 11 memory care units and 60 skilled nursing units. Ziegler facilitated …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsActive AdultAffordable HousingAssisted LivingCCRCDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentMemory CareOperationsVideosWebinars

Webinar: Meet Seniors Housing’s Contrarians — A Handful of Investors Go Big in a Challenging Environment

by Sarah Daniels

The June 27 webinar “Meet Seniors Housing’s Contrarians — A Handful of Investors Go Big in a Challenging Environment” covered the difficulties and opportunities in seniors housing, including the impact of rising interest rates, the rise of regional operators and best practices for meeting regulatory requirements. The panel of industry experts also shared insights on managing troubled assets and adapting to post-pandemic challenges in the healthcare real estate industry. Despite concerns about affordability and rising insurance costs, there were signs of growth and opportunity in the sector. Speakers emphasized the …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAlabamaFinanceGeorgiaLouisianaNewsSkilled NursingTennessee

Dwight Mortgage Trust Provides $142M Acquisition Financing for Skilled Nursing Portfolio in the Southeast

by Jeff Shaw

ATLANTA; MEMPHIS, Tenn.; MOBILE, Ala.; and SHREVEPORT, La. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $142 million bridge acquisition loan for a portfolio of 10 skilled nursing facilities in prime urban areas surrounding Atlanta, Memphis, Mobile and Shreveport.  The properties include Bell Minor Home, Cambridge Post Acute Care Center, Nurse Care of Buckhead, Riverside Health Care Center, Rockdale Healthcare Center, Westminster Commons, Millington Healthcare Center, Parkway Health and Rehabilitation Center, Kensington Health and Rehabilitation, and Highland Place Rehabilitation and Nursing.  Collectively, these facilities total …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNews

Berkadia Arranges $329.7M in Financing for 12 Properties

by Jeff Shaw

NEW YORK CITY — Berkadia Seniors Housing & Healthcare has worked with Poppy Bank to close loans for 12 different seniors housing properties totaling over $329.7 million of bridge debt. Chris Cain of Berkadia Seniors Housing & Healthcare, alongside Steve Ervin, secured the financing. The 12 properties total 1,597 units. Further details were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceIdahoNewsSkilled NursingWashington

Capital Funding Group Provides $42M HUD Financing Package for Three Skilled Nursing Facilities

by Jeff Shaw

WASHINGTON and IDAHO — Capital Funding Group (CFG) has provided a HUD financing package totaling $42 million. The package included three loans supporting the refinancing of existing bridge loans for three skilled nursing facilities: Tim Eberhardt and Ava Julio originated the transaction. The borrower was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaFinanceNewsSkilled Nursing

Greystone Funds $29.4M HUD Financing for Skilled Nursing Facility in Tucson, Arizona

by Jeff Shaw

TUCSON, Ariz. — Greystone has provided a $29.4 million HUD-insured loan to refinance a 240-bed skilled nursing facility in Tucson.  Eric Rosenstock originated the loan on behalf of Sapphire of Tucson Properties LLC. Sandstone of Tucson Rehab Centre in Pima County is a long-term skilled nursing and post-acute rehabilitation facility that includes 127 units, consisting of 43 private and 84 semi-private rooms.  The permanent FHA loan carries a 35-year term and amortization.

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceIndustry VoicesInvestment

Question of the Month: Inflation

by Jeff Shaw

How is persistently high inflation impacting investment and development activity in the seniors housing space? An economic double whammy By Chris Blanda Senior Managing Director  VIUM Capital This a well phrased question because both inflation and, in turn, high interest rates have doubled down to restrict development activity.  It’s been a compounding effect that has moved several major levers to the economic viability of development projects in the wrong direction. Inflation has pushed development budgets and operating cost budgets up, while high interest rates have pushed construction leverage points down, …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceFrom The Magazine

HUD Lending Activity Set to Reach Crescendo in Second Half of FY 2024

by Jeff Shaw

By Matt Valley Loan production in the HUD Section 232 mortgage insurance program is running slightly behind last year’s pace through the first half of fiscal year (FY) 2024 due to two main factors: elevated interest rates and margin compression experienced by operators of skilled nursing and seniors housing facilities. But a growing deal pipeline will likely result in loan closings in FY 2024 surpassing last year’s total of $2.87 billion, says one seasoned lender. Michael Gehl, chief investment officer on the FHA lending team at NewPoint Real Estate Capital, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsFinanceInvestmentNews

Focus Healthcare Partners Closes $370M Seniors Housing Investment Fund

by Jeff Shaw

CHICAGO — Focus Healthcare Partners LLC has completed the final closing of Focus Senior Housing Fund II LP, a closed-end, commingled, discretionary real estate fund targeting private-pay seniors housing. The fund raised approximately $370 million in capital commitments.   The fund is 20 percent larger than its predecessor vehicle despite a challenging fundraising period for commercial real estate, thanks to strong support from new and existing limited partners, according to Chicago-based Focus. Investors in the fund include university endowments, state and corporate pension funds, insurance companies, wealth managers, family offices and …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAlabamaAssisted LivingFinanceNews

Helios Arranges Sale of, Financing for Community in Alabama

by Jeff Shaw

ALABAMA — Helios has structured the sale and acquisition financing of an assisted living and memory care community in Alabama. A Mississippi-based regional owner-operator, Veritas InCare, sold the asset to a local owner-operator. The price and other details were not disclosed. Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to use its existing lending relationships to fund the purchase. Helios stepped in to assist the buyer and structured a financing package with a regional lender that recapitalized the buyer’s existing community …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts