Category: Finance

Indiana CCRC Leans on New Fee Model After Chapter 11 Bankruptcy Filing

An Indiana continuing care retirement community (CCRC) with $14 million of outstanding debt is leaning on Chapter 11 bankruptcy protection as well as a new fee model for independent living residents to help meet the community’s financial obligations. River Terrace Estates, a CCRC located in Bluffton, Ind., on Tuesday filed for Ch. 11 in the… Read More »

Capital Raise Launches $100 Million for China CCRC

A Hong Kong-based investor and a global capital raising firm have accumulated U.S. $100 million via insurance-based bonds for the development of a Chinese continuing care retirement community (CCRC). Assisted by Hong Kong’s First Equity Finance Company and IFA Capital, Chinese development company Jiangsu Suja Group Ltd. will raise the $100 million to construct a CCRC… Read More »

Formation Capital, Safanad Acquire 14 SNFs for $150 Million

Two heavy-hitting investment firms are expanding their footprint in the post-acute care sector through the acquisition of 14 skilled nursing facilities in the mid-Atlantic for about $150 million in total. The deal reflects a multi-year strategic partnership between healthcare-focused private investment firm Formation Capital and global principal investment firm Safanad. The portfolio includes 1,658 beds with 11 facilities… Read More »

Senior Housing Investors Expect Flat Cap Rates Over Next Year

More than half of senior housing investors, developers and brokers expect cap rates will remain flat over the next year compared to those who expect them to increase, according to a CBRE First Half 2014 Cap Rate Survey.   Surveying influential investors, developers and brokers in the senior housing space throughout the U.S., CBRE’s main… Read More »

Skilled Nursing Portfolio Receives $204M Refinancing HUD Loan

Twenty-five skilled nursing facilities are being refinanced for a total of $204 million. Housing & Healthcare Finance LLC (HHC Finance) closed the U.S. Department of Housing and Urban Development (HUD) Loan portfolio for an undisclosed New York-based borrower. The skilled nursing facilities are located in Florida, Alabama and Mississippi. The portfolio deal is the only… Read More »

5 Best Practices to Determine Financial Feasibility

A slew of new construction is in the works for the senior housing industry, but before committing to the projects, operators must determine if they’re financially feasible.  Conducting a financial feasibility study is the first step providers should take to assess the risks and opportunities associated with new projects, according Lancaster Pollard, a firm that provides… Read More »

Senior Housing Finance Activity: Lancaster Pollard, NorthStar Healthcare, Greystone

Here’s a roundup of some of the most recent financing transactions in senior housing and care. Housing & Healthcare Finance Closes $205M HUD Loan for SNF Portfolio Housing & Healthcare Finance (HHC Finance) closed a $205 million HUD loan portfolio consisting of 25 skilled nursing facilities located in the Southeast. The 232/223(f) loans refinanced existing… Read More »

Senior Housing Finance Activity: Cushman & Wakefield, Greystone, Cambridge

Here’s a roundup of some of the most recent financing transactions in senior housing and care. Cushman & Wakefield Arranges $48.2M in Development Capital for Two Mass. Senior Housing Projects Cushman & Wakefield’s Senior Housing Capital Markets, part of the firm’s equity, debt and structured finance service line, arranged $48.2 million of senior construction financing… Read More »

Most Popular News of the Week: St. Louis Construction Boom, CCRC Goes Pocket-Style

In case you missed them, here are the top headlines grabbing SHN readers’ attentions this week: CCRC Spearheads New Pocket-Style Approach to Senior Living — An Oregon continuing care retirement community (CCRC) is transforming its current design with a $60 million redevelopment project that will create a weaving outdoor walkway that leads to a series… Read More »

New Construction Finance: All About Relationships

When eyeing new construction in the senior housing market, it takes more than positive supply and demand characteristics for borrowers to get the green light on financing from lenders. Even with favorable demand, demographics and experience in new construction — whether in senior housing or other multifamily housing types — finance experts say it’s all… Read More »

Ziegler Closes $140M Financing to Prompt Nonprofit CCRC Construction in California

The completion of more than $140 million in financing for a California nonprofit continuing care retirement community may signal good news for start-ups and more development ahead for a state that has traditionally had high barriers to entry for nonprofit CCRCs.  MonteCedro, the not-for-profit public benefit corporation that owns and operates the CCRC, achieved the… Read More »