Brookdale Senior Living Inc. (NYSE: BKD) has completed two mortgage debt refinancing transactions in the aggregate principal amount of $219.0 million.  Brookdale recently obtained a $181.0 million fixed rate first mortgage loan from Prudential Mortgage Capital Company and a $38.0 million variable rate first mortgage loan from GE Capital, Healthcare Financial Services.  The blended rate [...]

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Representatives from the Illinois Housing Development Authority (IHDA) and local dignitaries recently celebrated the grand opening of Thomas Place Fox Lake new development of 100 rental homes for low-income seniors.  The project features 67 two-bedroom, and 33 one-bedroom units for residents who are at least 55 years old with monthly rents ranging from $598 to [...]

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Financial reform was touted as a way to further protect consumers but it appears that those protections are coming through as increased costs for mortgage transactions.  According to Bankrate’s 2010 Closing Cost Survey, closing costs are on the rise.  The study found the average origination and title fees on a $200,000 mortgage in 2010 totaled [...]

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Cambridge Realty Capital recently announced a series of financing transactions for California assisted living and skilled nursing properties totaling over $26 million dollars.  Cambridge has been actively financing skilled nursing homes and assisted living facilities in California for over 15 years and has recently increased its focus in Southern California with the addition of Hymie [...]

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The California Housing Finance Agency (CalHFA) recently closed its first bond issuance under the New Issue Bond Program (NIBP).  The NIBP, made possible through a special partnership with the U.S. Department of the Treasury, will provide $380 million financing for affordable, multifamily housing developments in California.  CalHFA’s first NIBP issuance will help create a 185-unit [...]

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GE Capital, Healthcare Financial Services announced last month that it is providing Guardian Healthcare, a Medicare-certified provider of professional home healthcare services, financing for $90 million in senior secured credit facilities for a significant acquisition and to refinance existing indebtedness.  The remaining proceeds will be used for growth capital and general corporate purposes.

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The Illinois Housing Development Authority (IHDA) last week celebrated the grand opening of 90 new affordable homes for seniors in south suburban Blue Island for the Senior Suites of Fay’s Point.  IHDA provided a $2.2 million low-interest federal HOME loan and $1.6 million in federal Low-Income Housing Tax Credits to build the development and the [...]

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Last week, local dignitaries and area residents from the District of Columbia joined Treasurer of the United States Rosie Rios to celebrate the ground breaking of Vida Senior Residences.  Vida Senior Residences will be available to individuals ages 55 and older who earn 50 percent or less than the area media income (AMI).  The 36 [...]

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Last week, Emeritus Corporation (NYSE: ESC), Blackstone Real Estate Advisors (an affiliate of The Blackstone Group), and Columbia Pacific Advisors announced the completion of the acquisition of 144 senior living communities formerly operated by affiliates of Sunwest Management (“Sunwest”) for approximately $1.2 billion.  The sale of Stayton SW Assisted Living’s (“Stayton”) assets took place as [...]

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The U.S. Department of Housing and Urban Development (HUD), after nearly 2 years of studying and revisions, recently published new procedures governing the process for seniors who are counseled for federally insured Home Equity Conversion Mortgages (HECMs).  The new procedures provides more detailed information which must be provided ahead of the counseling session, what must [...]

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McCarthy Capital Leads a $50 Million Investment In Life Care Life Care Companies, LLC announced that it recently received a $50 million investment led by McCarthy Capital Corporation.  Life Care, headquartered in Des Moines, Iowa, plans to utilize the capital to execute on current opportunities that it sees in the marketplace. 

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Carlyle Group and TPG Capital agreed Monday to acquire Australia’s Healthscope for for $2 Billion.  Healthscope is Australia’s second largest hospital operator in the country with 43 private hospitals and owns 45 medical clinics and operates pathology services in Australia, New Zealand and Southeast Asia.

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