OXFORD, Fla. — Colliers Mortgage | Commercial Finance, a division of Colliers, has provided a $23.4 million construction loan for Stonegate at Wildwood, a 130-unit seniors housing development in Oxford, approximately 50 miles northwest of downtown Orlando. Stonegate at Wildwood will be a two-story property located on an approximately 3.9-acre parcel within an area commonly known as The Villages, a large master-planned, age-restricted community. The borrower is Stonegate Development Co.
GRAND PRAIRIE, Texas — New York City-based Dwight Capital has provided a $30.5 million bridge loan for the refinancing of The Retreat at Grand Prairie, a 154-unit seniors housing property in Grand Prairie, located roughly midway between Dallas and Fort Worth. The four-story building sits on 7.7 acres and offers amenities such as a pool, fitness center, business center, game room, pet park and a putting green. Josh Sasouness of Dwight Capital originated the loan. The borrower was not disclosed.
OREGON and MONTANA — LTC Properties Inc. (NYSE: LTC) has originated a $25 million mezzanine loan for the recapitalization of a five-property seniors housing portfolio. The loan has a term of five years and two months, with two one-year extension options. It bears interest at 8 percent, with an IRR of 11 percent. Located in Oregon and Montana, The Springs Living operates the five communities, which include independent living, assisted living and memory care and total 621 units. The Springs is a new operator partner for LTC. Aron Will, Austin …
LOS ANGELES — Walker & Dunlop Inc. has hired Gideon Orion as managing director on its investment sales platform. Orion is based in Los Angeles and will join the firm’s national seniors housing property sales team led by Joshua Jandris. Orion will focus on originating and executing seniors housing property sales opportunities across the United States. Prior to joining Walker & Dunlop, Orion served as managing director and managing broker of California for Blueprint Healthcare Real Estate Advisors, an advisory firm exclusively focused on seniors housing and healthcare real estate. …
CAMBRIDGE, Mass. — MassDevelopment has issued a $10.3 million tax-exempt bond on behalf of Putnam School Apartments LLC, an affiliate of Cambridge Housing Authority (CHA). The borrower will use the proceeds to buy and renovate Putnam School Apartments, a 33-unit affordable housing facility serving seniors and individuals with disabilities. A historic schoolhouse built in 1890, the building was converted into the Putnam School Apartments in 1983; most of the housing units have not been updated since. Renovations will include reconfiguring units; addressing major systems, including mechanical, electrical, plumbing and ventilation; …
NEW YORK CITY — Lument has hired Leor Dimant as a managing director, focusing on originating new business. Dimant brings experience that covers conventional, seniors housing and multifamily production. He will report to Aaron Becker, Lument’s head of seniors housing and healthcare production. Dimant joins Lument after previously working as a managing director at Greystone, where he had eight years of experience as a multifamily and healthcare loan originator specializing in HUD, agency and bridge loans. He also served in the Israeli Defense Forces for four years, including time as …
LEXINGTON, Va. — Ziegler has arranged $18.9 million in bond financing for Kendal at Lexington, a continuing care retirement community in Lexington, a small city approximately 70 miles east of the West Virginia border. Kendal at Lexington was chartered in January 1995 on 84 acres in the Blue Ridge Mountains. Located roughly 1.3 miles from Washington & Lee University and Virginia Military Institute, Kendal at Lexington currently consists of 150 independent living units (55 apartments, 95 cottages), 19 assisted living units (includes one dual-occupancy unit) and 60 skilled nursing beds. …
LINCOLNSHIRE, Ill. — Cambridge Realty Capital Cos. has provided an $11.3 million HUD-insured loan for The Ponds of Wealshire, a 116-unit assisted living facility in the Chicago suburb of Lincolnshire. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge chairman. The facility provides rehabilitation services, respite care and progressive memory care. The loan refinancing existing debt.
BALTIMORE — Erickson Senior Living, a Baltimore-based developer and manager of continuing care retirement communities (CCRCs), has hired Christian Sweetser as chief financial officer (CFO). Sweetser will oversee the planning, implementation and direction of Erickson Senior Living’s fiscal function and performance. This includes participating in the development of the company’s strategic plans and programs while evaluating and advising on long-range plans, as well as providing financial and trend analysis. Prior to joining Erickson Senior Living, Sweetser most recently served as CFO of Silverado, an Irvine, California-based memory care company. Before …
UTAH and CALIFORNIA — Walker & Dunlop has structured $77.1 million in financing for two large skilled nursing portfolios totaling ten properties and 848 units. The Cascades Portfolio, located throughout Utah, totals seven properties and 693 units. The Rollins-Nelson Portfolio includes three properties and 155 units located in Englewood, Long Beach and Perris, California. Walker & Dunlop’s Kevin Giusti, Brian Neal and Andrew Westling arranged the transactions. The team utilized three different capital solutions for the Cascades Portfolio, including financing through the Department of Housing and Urban Development (HUD), a …
