MOUNT LAUREL, N.J. — Capitol Seniors Housing has opened Arbor Terrace Mount Laurel, an 88-unit seniors housing community in Mount Laurel. The 75,000-square-foot community offers assisted living and memory care services. The Arbor Company is the operator. Mount Laurel is an affluent suburb east of Philadelphia. The community is just east of the Interstate 295 interchange and the New Jersey Turnpike, making the community very accessible to the entire market area. Meyer Senior Living Studio designed the property.
New Jersey
WASHINGTON, D.C. — Berkadia’s Seniors Housing & Healthcare group has closed $57.2 million in loans for skilled nursing facilities in Alabama, Illinois, New Jersey, Maryland and Washington. Berkadia refinanced a portfolio of three skilled nursing facilities in Washington state for $26.2 million, or $120,212 per bed, utilizing HUD’s 232/223(f) program. Jay Healy arranged the financing on behalf of the Washington-based owner and operator, which used the loan proceeds to pay off short-term debt, fund improvements to the properties and reduce their debt service payments. The communities are located in Brewster, …
M&T Realty Capital Provides $79.5M Financing for Skilled Nursing Facility in New Jersey
by Jeff Shaw
BLACKWOOD, N.J. — M&T Realty Capital Corp. has closed a $79.5 million FHA-insured loan to refinance a 458-bed skilled nursing facility in Blackwood, a suburb of Philadelphia. The 30-year loan is full amortizing and features a fixed interest rate of 3.28 percent. The borrower and name of facility were not disclosed. Paula Quigley and Matthew Pipitone of M&T Realty Capital Baltimore office led the transaction in collaboration with Aaron Anglada of M&T Bank’s Paramus office. Quigley also serves as the FHA/HUD program manager for the company.
CHATHAM, N.J. — M&T Realty Capital Corp. has provided a $12.1 million FHA-insured loan to refinance of a 108-bed skilled nursing facility in Chatham. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) 223(f) program. The 35-year, fully amortizing loan features a fixed rate of 3.26 percent. The borrower and name of facility were not disclosed. Paula Quigley and Matt Pipitone of M&T Realty Capital’s Baltimore office, in collaboration with Jennifer Kooney of M&T Bank’s Tarrytown, N.Y. office, led the transaction. Quigley also serves as …
CHICAGO — Harrison Street, a Chicago-based alternative asset investment firm, has acquired a portfolio of 11 properties managed by Brightview Senior Living located throughout Maryland, New Jersey and Massachusetts. Harrison Street and Brightview already partner on several properties. This acquisition adds 1,322 units to the portfolio. The price and seller were not disclosed. The properties include: Brightview Perry Hall, Nottingham, Maryland Brightview Rolling Hills, Catonsville, Maryland Brightview Towson, Towson, Maryland Brightview White Marsh, Baltimore Brightview South River, Edgewater, Maryland Brightview Greentree, Marlton, New Jersey Brightview Mount Laurel, Mount Laurel, New …
Harborview Capital Partners Arranges $60M in HUD Loans for Properties in Illinois, New Jersey
by Jeff Shaw
ILLINOIS and NEW JERSEY — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a total of $60 million in HUD financing for a portfolio of skilled nursing facilities in Illinois and New Jersey. In the first loan, Harborview arranged $7 million in financing for a 96-bed skilled nursing facility in Lake County, Illinois. The non-recourse loan features a 35-year amortization. Ephraim Kutner and Jonathan Kutner originated the transaction. Harborview also placed $53 million in HUD refinancings for multiple skilled nursing facilities totaling more than …
Capitol Seniors Housing Completes New Clubhouse, Residences at Active Adult Community in New Jersey
by Jeff Shaw
CINNAMINSON TOWNSHIP, N.J. — Capitol Seniors Housing has completed construction of a new clubhouse and two of the remaining five residential buildings at Siena, an active adult community in Cinnaminson Township, a suburb of Philadelphia. Located on 15 acres, the community will feature 204 units upon full build-out. Capitol Seniors Housing acquired Siena in 2018. The owner is currently working to complete the community’s master plan that will total 12 buildings. The new residences range from 1,114 to 1,873 square feet. Cove Property Management operates the community.
Dwight Capital Provides $50.8M Financing for Silver Healthcare Center in Cherry Hill, New Jersey
by Jeff Shaw
CHERRY HILL, N.J. — Dwight Capital has provided a $50.8 million loan for Silver Healthcare Center, a 246-bed skilled nursing facility in Cherry Hill, a suburb of Philadelphia. The 129,530-square-foot property was built on 7.9 acres in 2002. The use of the HUD loan was not disclosed.