SARATOGA SPRINGS, N.Y. — Axiom Capital LLC has arranged a $17.4 million loan for the refinancing of a 178-unit independent living community located in the Upstate New York city of Saratoga Springs. Units at the property, which was built on 14 acres in the late 1990s, feature stainless steel appliances and enclosed balconies. Amenities include a bank branch, a full-service restaurant, library, fitness facility with steam and sauna, health spa and unisex salon, lounges, putting green and an arts and crafts studio. An undisclosed life insurance company provided the nonrecourse …
Fledgling firm manages to close over $750 million in deal volume during first year. By Matt Valley In April, VIUM Capital celebrated its one-year anniversary, no small feat considering the firm was launched during the COVID-19 pandemic. Led by industry veterans Kass Matt and Steve Kennedy, formerly of Lancaster Pollard, VIUM Capital provides financing to the seniors housing and healthcare sector. More specifically, VIUM Capital offers FHA/HUD and proprietary bank bridge financing and has partnered with a large Midwestern-based lender to provide loans backed by Fannie Mae and Freddie Mac. …
ROLLING HILLS ESTATES, Calif. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged $23 million in construction financing for Peninsula Pointe, a to-be-built, 87-unit, assisted living and memory care community in Rolling Hills Estates on the Palo Verdes Peninsula. The borrower is a joint venture between Singerman Real Estate and Darnell Capital. The project includes the redevelopment of an existing, vacant office building into a luxury, three-story, 65,000-square-foot seniors housing community to be operated by Cadence Living. A large regional bank provided the financing.
ERIE and MECHANICSBURG, Pa. — HJ Sims hass arranged $47.6 million in financing for Asbury Communities Inc. The loans support two life plan communities — Bethany Village Retirement Center in Mechanicsburg and Springhill in Erie. Bethany includes two campuses with 400 independent living units, 100 assisted living units, a 69-bed skilled nursing center and amenities. Springhill has 158 independent living and 35 personal care units, plus an 80-bed skilled nursing facility. The loans refinance bonds from 2012 and include a $20.4 million bank loan and tax-exempt, fixed-rate bonds totaling $27.2 …
BLUFFTON and HILTON HEAD, S.C.; TUCSON, Ariz.; and JACKSON, Tenn. — Walker & Dunlop Inc. has structured $37.4 million in financing for four assisted living and memory care facilities. The finance transactions included $5.5 million for Bloom at Bluffton in Bluffton; $5.8 million for Bloom at Hilton Head in Hilton Head; $16.1 million for Cascades of Tucson in Tucson; and $10 million for Regency of Jackson in Jackson. Kevin Giusti and Brian Neal led the origination team. The Bloom portfolio, comprising two assisted living and memory care communities with 117 …
ALEXANDRIA, Va. — Oxford Finance LLC, a specialty finance firm based in Alexandria, has hired Kevin Harbour to its healthcare services real estate and asset-based lending team. As managing director, Harbour will be responsible for continuing the firm’s real estate bridge lending programs; developing new financial offerings, including structured equity and acquisition lines of credit for qualified healthcare companies; expanding Oxford’s asset-based lending platform in all healthcare sectors; and managing the firm’s associated business development and underwriting teams. Harbour brings 18 years of healthcare lending experience to Oxford. He spent …
TARZANA, Calif. — Oxford Finance LLC has provided a $28 million senior credit facility to AvantGarde Senior Living. The funds are being used to refinance existing debt on one facility located in Tarzana. Founded in 2008, AvantGarde owns and operates two luxury assisted living facilities in California. The subject facility was acquired in 2010 as a 100-room senior living hotel and converted to a 138-bed assisted living community.
AUSTIN, Texas — Ziegler has arranged $56.9 million in bond financing through the New Hope Cultural Education Facilities Finance Corp. for an expansion at Westminster, a continuing care retirement community (CCRC) in Austin. The community is located on approximately 9.3 acres in west central Austin and comprises 324 independent living units, 22 assisted living units and 85 skilled nursing beds (of which 30 are utilized for memory care). Life Care Services (LCS) has operated the property since 1981. Additionally, LCS is providing development services for Westminster’s expansion project. The project …
UTAH — HJ Sims has provided a high-leverage bridge loan for the acquisition of a senior living community in Utah. Featuring 55 units of assisted living and memory care, the community features mountain views from its hilltop location in a thriving and growing local market. A regional owner, operator and developer of seniors housing communities partnered with Sims to close on the acquisition. The buyer specializes in assisted living and currently manages over 1,600 units in more than 25 communities across five states in the Mountain West region. Partnering with …
NEW YORK CITY — Sims Mortgage Funding (SMF), a subsidiary of HJ Sims, has arranged a HUD-insured loan totaling $7 million for Marien-Heim of Sunset Park, a 169-unit, Section 8 elderly housing project located in Brooklyn. The borrower is a local, nonprofit community development organization. SMF served as financial advisor. This was SMF’s second successful transaction for Marien-Heim. In 2012, SMF originated an $8.3 million FHA-insured Section 223(f) loan that refinanced its Section 202 direct loan, funded capital reserves and repairs, earned the borrower a development fee and generated annual …