PORTLAND, Ore. — Berkadia Seniors Housing & Healthcare has arranged $82.4 million in financing for Touchmark in the West Hills, a seniors housing community in Portland. The borrower is Oregon-based Touchmark. Further details on the property and the use of the financing were not disclosed. Chris Cain and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured the financing through Freddie Mac. The seven-year loan has a 53 percent loan-to-value ratio.
PORTLAND, Ore. — Berkadia Seniors Housing & Healthcare has arranged a $50.2 million HUD 232/223(a)(7) refinancing for a 253-unit independent living, assisted living and memory care community in Portland. “Historically, the property has maintained an occupancy percentage in the low 90s and ended 2020 with an occupancy of 88 percent, showing impressive resilience throughout the pandemic,” says Ed Williams of Berkadia, who led the refinancing. “The HUD refinance will allow the borrower to save on debt service and MIP payments through the combination of a lower rate and an extension …
COLUMBUS, Ohio — VIUM Capital, a seniors housing and healthcare lender based in Columbus, has hired four new members to its team, all as senior managing directors. The firm hired Columbus-based Chris Blanda and Brendan Healy; Austin, Texas-based Scott Blount; and Boca Raton, Florida-based Tony Ruberg. The four have previously worked together while closing over $3 billion of seniors housing and healthcare financings, though their professional histories were not disclosed. Blanda and Healy will focus their efforts across the Midwest, Southeast and Mid-Atlantic, while Ruberg will focus on the country’s …
BELLEFONTE, Pa. — Lument has arranged a $35.6 million U.S. Department of Agriculture (USDA) Community Facilities (CF) loan to fund the construction of Centre Care Rehabilitation and Wellness Services, a 240-bed skilled nursing facility in Bellefonte, near State College. The new facility will replace an existing 240-bed facility that was deemed unsuitable for substantial renovations due to its age and location. Miles Kingston, director at Lument, worked with Complete Healthcare Resources Eastern (CHRE) to develop and execute the financing strategy. CHRE is an experienced management company that has managed and …
CHICAGO — Walker & Dunlop Inc. has structured $55.7 million in financing for three skilled nursing facilities in the Chicago area: Chalet Living & Rehab Center, The Grove of Evanston and The Grove of La Grange Park. Joshua Rosen led the origination team at Walker & Dunlop in securing debt coverage savings for the property owner and long-time client, which was not disclosed. The team utilized U.S. Department of Housing and Urban Development’s (HUD) Section 232/223(a)(7) program to refinance the facilities’ existing HUD loans. Each loan features a 27-year term …
MONMOUTH COUNTY, N.J. — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $24.1 million bridge-to-HUD loan for the acquisition of a 202-bed skilled nursing facility in Monmouth County. The borrower and property were not disclosed. The loan, provided by local lender features nine months of interest-only payments and a 25-year amortization. Rafael Urbach of Harborview originated the loan.
RICHMOND, Va. — EquityPlus LLC has successfully sold $16 million in bonds issued by the Richmond Redevelopment & Housing Authority. Proceeds from the bond sale will finance renovations to the Shockoe Hill Senior Apartments, an affordable seniors housing complex owned by Capital Realty Group in Richmond. The financing will also fund a new community wellness center for its residents. The bonds were purchased in their entirety by Cedar Rapids Bank & Trust of Iowa ($10.5 million) and Capital Realty Group ($5.5 million). EquityPlus identified the buyers, coordinated closing and will …
DEWITT, Iowa — Lument has arranged a $21.8 million loan via the U.S. Department of Agriculture’s Community Facilities (CF) Direct Loan program to fund the construction of Fieldstone of DeWitt, a 91-unit seniors housing campus. Located in eastern Iowa, the community will consist of a 70-bed replacement skilled nursing facility, of which 16 units will provide dementia care and 21 units will provide assisted living care. Previously, the community was attached to a hospital. The new skilled nursing beds will be located in four cottages, each with its own common …
MACON, Ga. — NorthMarq has arranged a $7.7 million refinancing for Cottages on Wesleyan, a 45-unit independent living community in Macon. The transaction was structured with a 10-year term on a 30-year amortization schedule through Fannie Mae. Mark Ebersold, vice president of NorthMarq’s Charlotte regional office, arranged the transaction. “The owner constructed the asset over 20 years ago, and has done an outstanding job of maintaining it as a Class A asset in the market,” says Ebersold. “The property offers its residents patio-style living with one- and two-bedroom floorplans, and …
GAINESVILLE, Fla. — Dwight Capital has provided a $94.3 million HUD-insured loan for The Village at Gainesville, a 651-bed senior living community in Gainesville. The gated property is situated on a 104-acre campus in close proximity to many parks and recreational areas, including the 110-acre Mark Bostick Golf Course. The community provides its residents with services including assisted living, memory care, and board and care. This refinancing closed as the largest healthcare 232(a)(7) loan in HUD’s history to date, according to Dwight Capital. Josh Sasouness and Avi Lifshitz originated the …