Seniors Housing

Dwight Capital Provides $13.2M Acquisition Financing for Three Skilled Nursing Facilities in Tennessee

by Amy Works November 6, 2018

KINGSPORT, LAWRENCEBURG AND HUNTSVILLE, TENN. — Dwight Capital has provided $13.2 million in financing for the acquisition of three skilled nursing facilities in Tennessee. The portfolio includes Brookhaven Manor in Kingsport, Countryside Healthcare and Rehabilitation in Lawrenceburg and Huntsville Manor in Huntsville. The properties feature a combined 270 beds. Dwight Capital provided $12.3 million in bridge-to-HUD acquisition financing, as well as $855,000 in mezzanine financing, representing a combined total of more than 90 percent of the purchase price. The borrower was not disclosed.

November 6, 2018

Loans Multifamily Oregon Seniors Housing Western

Carnegie Capital Arranges $6.2M Refinancing for Seniors Housing Community in Portland

by Amy Works November 6, 2018

PORTLAND, ORE. — Carnegie Capital has sourced and structured a $6.2 million cash-out refinancing for a 39-unit assisted living and memory care community in Portland. The original developer still owns and operates the community, which was 100 percent occupied at the time of the financing. The loan pays off the original construction financing. Further details on the community and borrower were not disclosed. Carnegie put together the loan in two tranches with a bank and private equity shop joining forces to complete the capital stack. The loan carries a fixed rate for three years, interest-only payment period and flexible exit options. JD Stettin, managing partner of Carnegie Capital, arranged the transaction.

November 6, 2018

Loans Multifamily Seniors Housing Texas

CBRE Arranges Refinancing for 221-Unit Seniors Housing Property in San Antonio

by Taylor Williams November 6, 2018

SAN ANTONIO — CBRE has arranged a refinancing for Franklin Park Alamo Heights, a 221-unit independent living, assisted living and memory care community in San Antonio. The borrower is a joint venture between Harrison Street Real Estate Capital and Franklin Development Properties. The amount of the loan was not disclosed. Aron Will and Tim Root of CBRE secured a three-year, floating-rate loan with 24 months of interest-only payments through an undisclosed debt fund.

November 6, 2018

Company News Multifamily Seniors Housing Southeast Student Housing Virginia

Freddie Mac Names Deborah Jenkins as Executive Vice President, Head of Multifamily Business

by Amy Works November 6, 2018

MCLEAN, VA. — Freddie Mac has announced that Deborah Jenkins will be named executive vice president and head of its Multifamily division, effective immediately. Additionally, Jenkins has assumed a role as member of the company’s Senior Operating Committee. “Debby’s transition into her role as head of the Multifamily business has progressed very well,” said Donald Layton, CEO of Freddie Mac. “Debby is dedicated to ensuring this growing segment of our company continues to be an industry leader, innovator and a critical financier of rental housing that is affordable to low- and moderate-income families.” In September, Freddie Mac announced the retirement of CEO Donald Layton taking place in the second half of 2019, as well as the commencement of the CEO Succession Plan and the elevation of former head of Freddie Mac Multifamily, David Brickman, to president of the company. Since 2010, Jenkins has led Multifamily Underwriting and Credit, overseeing all credit approvals and due diligence processes, asset level securitization activities, as well as credit policies and governance for all Multifamily’s products.

November 6, 2018

Acquisitions Massachusetts Multifamily Northeast Seniors Housing

Cushman & Wakefield Advises on $264M, 17-Community Portfolio Sale for HCP

by David Cohen November 5, 2018

BOSTON — Cushman & Wakefield Senior Housing Capital Markets, acting as advisor to HCP Inc., has arranged the sale of a portfolio of seniors housing communities managed by Brookdale Senior Living. HCP agreed to sell the 17 Brookdale-managed properties to funds managed by affiliates of Apollo Global Management LLC (NYSE: APO) for $264 million. The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, James Dooley and Sam Dylag.

November 5, 2018

California Development Multifamily Seniors Housing Western

Sunshine Retirement Plans 150-Unit Seniors Housing Community in Southern California

by Amy Works November 5, 2018

FOUNTAIN VALLEY, CALIF. — Bend, Oregon-based Sunshine Retirement Living has announced plans for Park View Estates, a 100,000-square-foot assisted living and memory care community in Fountain Valley, located approximately 35 miles southeast of downtown Los Angeles. The property will sit on 3.5 acres and feature 150 units adjacent to Fountain Valley Regional Hospital and Medical Center. Construction is scheduled for completion in the first quarter of 2020. The memory care neighborhood will total 44 units, all located on the first floor. The assisted living neighborhood will total 106 units spread across the first and second floors. Lantz-Boggio Architects & Interior Designers designed the community. Sunshine Retirement Living is a family-owned seniors housing company with 21 retirement communities in 10 states.

November 5, 2018

Development Idaho Multifamily Seniors Housing Western

Radiant Senior Living Breaks Ground on 16-Unit Expansion in Idaho

by Amy Works November 5, 2018

COEUR D’ALENE, IDAHO — Radiant Senior Living has broken ground on a 16-unit expansion at The Renaissance at Coeur D’Alene, a seniors housing community in Coeur D’Alene, near the Washington border. The community is broken up into chateaus of 16 units each, making this the fifth such building on the property. The Renaissance does not specify a type of care for each unit but customizes for each resident’s needs. Radiant expects to complete the 7,300-square-foot chateau in January 2019. Glauser Construction is building the project. Radiant owns and operates 19 assisted living communities in Idaho, Oregon, Washington, Nevada, Colorado and Montana.

November 5, 2018

Loans Multifamily New Jersey Northeast Seniors Housing

Monticello Originates $69M in Financing for Seniors Housing Portfolio in New Jersey

by David Cohen November 2, 2018

NEW JERSEY — Monticello Asset Management has provided $65 million in bridge-to-HUD financing to HP Intermediate Administrative Services LLC for the acquisition of four seniors housing communities in New Jersey. In addition, Monticello provided a $4 million working capital loan to the operator of the communities. The portfolio totals 654 total beds. The majority of the portfolio is skilled nursing, though it does include 74 memory care units, 60 assisted living units and a 16-bed ventilator unit. The buildings average 64,000 square feet. The floating-rate financing features a three-year term and two six-month extension options.

November 2, 2018

DeSoto-Transitional-Rehabilitation-Center

Development Multifamily Seniors Housing Texas

Madison Marquette Breaks Ground on 55,000 SF Skilled Nursing Facility in Metro Dallas

by Taylor Williams November 1, 2018

DESOTO, TEXAS — Madison Marquette, which recently merged with PMRG, has broken ground on DeSoto Transitional Rehabilitation Center, a 55,000-square-foot skilled nursing facility in DeSoto, a southern suburb of Dallas. HMG Healthcare will operate the 100-bed facility, which is being developed in partnership with Global Health LLC and an associated group of multidisciplinary physicians and operation specialists. Completion is slated for the fourth quarter of 2019.

November 1, 2018

Loans Midwest Minnesota Multifamily Seniors Housing

Dougherty Provides $9.3M Refinancing for Senior Living Property in Faribault, Minnesota

by Kristin Harlow November 1, 2018

FARIBAULT, MINN. — Dougherty Mortgage has provided a $9.3 million Fannie Mae loan for the refinancing of Faribault Senior Living. The 90-unit senior living property is located in Faribault, about 50 miles south of Minneapolis. Built in 2011, the four-story property includes independent living, assisted living and memory care units. Property amenities include an outdoor patio with resident gardens, a hair salon, fitness room, game room, activity room, library, dining hall and lounge areas. The 12-year loan is amortized over 30 years. Faribault Senior Living LLC was the borrower.

November 1, 2018

Newer Posts

Older Posts