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.
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.
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 …
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 …
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.