Category: Finance

HealthLease REIT Makes $102M of Senior Housing Acquisitions

Toronto-based HealthLease Properties Real Estate Investment Trust (TSX:HLP.UN) recently acquired seven senior housing properties for more than $102 million. The Mainstreet-affiliated REIT purchased a four-property portfolio for $49.4 million at a 8.3% cap rate consisting of two skilled nursing facilities and two assisted living communities located in North Carolina, Virginia, and Pennsylvania. The portfolio includes… Read More »

Mainstreet Uses Crowdfunding To Finance New Senior Living Development

Mainstreet is taking a crowdsourcing approach to the financing of senior care development. As a means to finance its ongoing growth efforts, short-term rehabilitation and boutique nursing home developer Mainstreet is rolling out a direct investment initiative that connects crowdfunding with its latest project, a Bloomington, Indiana short-stay transitional care and assisted living facility. By… Read More »

Florida CCRC Survives Bankruptcy Scare, Restructures Debt

A Florida continuing care retirement community has emerged from Chapter 11 bankruptcy after successfully restructuring about $62 million of debt.  The Jacksonville-area CCRC, sponsored by not-for-profit organization Life Care St. Johns d/b/a Glenmoor, entered a formal restructuring process in early July 2013, with its plan receiving near-unanimous approval by all parties involved. At the time… Read More »

Senior Housing Investments & Acquisitions: Mainstreet, LCS, BMA Management

BMA Management Tapped to Operate 2 New Ill. Communities BMA Management has been picked to operate two senior living communities currently being developed in Illinois. Both will serve low-income seniors through the state’s Supportive Living Facility program. Goldblatts Senior Living Community is being developed in the historic Goldblatts Department Store building in Chicago’s Back of… Read More »

Senior Housing Finance Activity: Berkadia, RED Capital, HHC Finance

Berkadia Secures $44 Million for N.Y. Skilled Nursing Facilities Berkadia Commercial Mortgage LLC recently arranged $43.9 million of financing for two skilled nursing facilities located in Nassau County and Dutchess County, N.Y. Vice President Jay Healy of Berkadia’s Seniors Housing and Healthcare group worked with the owner of both properties to secure the fixed-rate financing.… Read More »

Oakmont Senior Living Targets Calif. Expansion with 9 New Resort Properties

A California senior living resort developer and management company is betting big on expanding within the state, with nearly 10 projects under way or coming on line within a year’s time. Oakmont Senior Living has announced the construction of what will be its eighth and ninth communities in Northern California, for a total of 13… Read More »

Omega Communities Plans $200M Mega-Church Model Pipeline

A relative newcomer to the senior housing space is making headway with nearly 10 projects in its mega church-model pipeline thanks to assembling a team of senior housing industry mainstays. Omega Communities, LLC was founded by Pat Trammell, Jr., the chairman and CEO, around three years ago. The concept for each senior living community project includes… Read More »

From Offer to Closing Table: How to Finance Your Non-Profit Acquisition

When a for-profit seniors housing owner/operator decides to acquire a nonprofit senior living facility, how does it successfully get from the offer to the closing table? Sign up to learn how. Brought to you by Lancaster Pollard and Senior Housing News, this FREE webinar, How to Successfully Finance the Acquisition of a Nonprofit Community will provide… Read More »

CBRE, Greystone Top Age-Restricted Senior Housing Lender Ranking for 2013

CBRE, Greystone Top Age-Restricted Senior Housing Lender Ranking for 2013

As the number of seniors housing finance players continued to expand over the course of 2013, and more liquidity came into the market, several lenders posted big originations numbers both in terms of origination counts and dollar volume of lending facilitated. Topping the list for last year’s originations for senior housing specified as age restricted… Read More »

Reports: HCP to Back Purchase of $900 Million UK Senior Living Portfolio

After recent speculation HCP, Inc. (NYSE:HCP) would be a target for acquisition due to inactivity, reports indicated the REIT is ready and waiting to close in on a new deal—a big one.  According to a United Kingdom report this week by HealthInvestor, HCP is getting ready to back Formation Capital’s acquisition of HC-One, a care home… Read More »

Senior Housing Finance Activity: Ziegler Closes $73M for New CCRC

Ziegler Closes $73 Million Financing for Ill. CCRC Development Ziegler recently closed issuance on $73,465,000 of Series 2014 tax-exempt, fixed-rate bond financing for the development of MRC The Crossings in League City, Texas, sponsored by Methodist Retirement Communities, a not-for-profit corporation. In December of 2012, MRC purchased approximately 19 acres and began funding the pre-development… Read More »