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Finance

CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $44.4M Bond Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $44.4 million in bond financing for The Forest at Duke, a 47-acre continuing care retirement community just south of Duke University in Durham. The Forest at Duke opened in 1992 and currently serves over 360 residents across 154 apartments, 88 cottages (242 total independent living units), 34 assisted living units and 58 licensed skilled nursing beds. Proceeds of the bonds will be used for a renovation project that will include 90 new units (32 assisted living and 58 skilled nursing) in a “small house” …

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FinanceNews

Grandbridge Provides $49.2M Fannie Mae Refinancing for Brightview Lake Tappan in Orangeburg, New York

by Jeff Shaw

ORANGEBURG, N.Y. — Grandbridge Real Estate Capital’s Atlanta-based Seniors Housing and Healthcare Finance team has closed a $49.2 million refinancing for Brightview Lake Tappan. The 143-unit seniors housing community in located in Orangeburg, approximately 15 miles north of New York City. Funding for the loan was arranged through Fannie Mae.

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AcquisitionsFinanceNewsOhio

Oxford Finance Provides $24M Credit Facility to Owner-Operator Lantern Group

by Jeff Shaw

CHAGRIN FALLS, MADISON and SAYBROOK, Ohio — Oxford Finance LLC, an Alexandria-based lender, has closed a $24 million senior credit facility for Lantern Group, an owner and operator of skilled nursing and assisted living facilities. The funds were used to acquire three assisted living and memory care facilities located in Ohio: Lantern of Chagrin, Lantern of Madison, and Lantern of Saybrook. Lantern was founded in 2004 by CEO Jean Makesh and is headquartered in Northeast Ohio. The company has been the operator of the three facilities since their original construction. …

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Company NewsFinanceNews

Greystone, Monticello to Form Joint Venture for Healthcare Capital Solutions

by Jeff Shaw

NEW YORK CITY and WARRENTON, Va. — Greystone, a national commercial real estate finance firm, and Monticello, which provides specialized private real estate and asset-based lending, have announced plans to combine their seniors housing and healthcare lines of business under a new joint venture. The joint venture will provide capital finance products and services for the seniors housing and healthcare industry. Greystone is the top healthcare lender in the United States for FHA-insured loans, originating over $3 billion overall in seniors housing and healthcare finance across FHA, Fannie Mae, Freddie …

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AcquisitionsContent PartnersFeaturesFinanceIndustry ContentOperationsPeopleSkilled NursingTechnology

Post-Pandemic Considerations for Acquisitions and Renovations

by Sarah Daniels

By Sarah Daniels Planning ahead is never easy, but in the world of senior living construction, acquisitions and renovations, it makes everything that follows easier — and often more cost effective in the long term. The need to future-proof seniors housing has taken on new significance in the face of COVID-19 and will continue to be a priority to help prospective and current residents feel safe physically, mentally and emotionally. With seniors housing occupancy rates down, creating a strong, upfront plan for long-term goals incorporating trends in design, wellness and technology …

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Active AdultDevelopmentFinanceIllinoisNews

CBRE Arranges $43M Construction Loan for Active Adult Community in Chicago

by Jeff Shaw

CHICAGO — CBRE has arranged $43 million in financing for the construction of a Class A active adult community in Chicago. Aron Will, Austin Sacco and Matthew Kuronen of CBRE Senior Housing partnered with CBRE Chicago’s Debt and Structured Finance professionals John Parrett and Peter Marino to arrange the financing. The five-year loan features 42 months of interest-only payments. A national bank provided the funds. Further details on the property and borrower were not disclosed.

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FinanceNewsSkilled NursingWisconsin

Greystone Provides $35M in HUD-Insured Financing for Skilled Nursing Portfolio in Wisconsin

by Jeff Shaw

ANTIGO, BURLINGTON, MANITOWOC AND KENOSHA, Wis. — Greystone has provided $35 million in HUD-insured loans for the refinancing of a five-property, 558-bed skilled nursing portfolio across Southeast Wisconsin. The facilities are located in Antigo, Burlington, Manitowoc and Kenosha. Each of the nonrecourse loans features a fixed interest rate and is fully amortized over 30 years. The loans refinance the existing debt on the properties, which were purchased in 2017. The undisclosed borrower plans to continue ongoing property improvements. Fred Levine of Greystone originated the loans.

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FinanceFloridaNews

CBRE Arranges $78M Refinancing for Community in Miami

by Jeff Shaw

MIAMI — CBRE has arranged $78 million in financing for an upscale seniors housing community near the University of Miami. Aron Will, Austin Sacco and Adam Mincberg of CBRE Senior Housing arranged the three-year, floating-rate loan with full-term interest-only payments. A debt fund provided the capital, which refinances existing debt. Further details on the property were not disclosed.

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AcquisitionsAssisted LivingFinanceNewsTexas

JLL Arranges Sale of, $21.3M Financing for The Shores at Clear Lake in Houston

by Jeff Shaw

HOUSTON — JLL Capital Markets has arranged the sale of The Shores at Clear Lake, a 100-unit senior living community in Houston. JLL worked on behalf of the seller, Meridian Realty Advisors, to complete the sale to the buyer, Chicago Pacific Founders. JLL also represented the buyer to secure a $21.3 million, 10-year, floating-rate loan through Freddie Mac as part of the transaction. JLL Real Estate Capital will service that loan. Sitting on almost eight acres and totaling nearly 90,000 square feet, The Shores at Clear Lake offers 66 assisted …

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FinanceNewsPeople

Bellwether Enterprise Hires Taylor Mokris as Senior Vice President of Seniors Housing and Care

by Jeff Shaw

CHARLOTTE, N.C. — Bellwether Enterprise Real Estate Capital has hired Taylor Mokris as senior vice president of seniors housing and care. Mokris will play a leadership role in the development and execution of the growth strategy for Bellwether Enterprise’s seniors housing and care mortgage lending platform. He joins the team under Ryan Stoll, who was appointed national director of seniors housing and care in March. Mokris will be based in the Charlotte office. Mokris has over 10 years of experience in commercial real estate, including relationship management, originations, underwriting and …

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