New HUD Option Opens Market for Loans on Hold

The newest drafting of a Department of Housing and Urban Development loan type is providing flexibility to senior housing providers in states where Medicaid reimbursements are known to take several months at a time. The first of the new Intercreditor Agreements, an account receivable loan type provided under HUD’s 232/223 program, was closed by Beech […]

Senior Housing Finance Activity: CBRE, Beech Street, Ziegler

Ziegler Closes $44M Financing for Greencroft CCRC Ziegler recently announced the successful closing of the $43,975,000 fixed-rate Series 2013A Bond issue for Greencroft Obligated Group. At the time of issuance, the Greencroft Obligated Group consists of Greencroft Goshen, Hamilton Grove and Southfield Village. Each of the Obligated Group members is a 501(c)(3) corporation and each owns and operates […]

Senior Housing Finance Activity: Prudential, Berkeley Point, Johnson Capital

Contemporary Healthcare Capital Provides Acquisition Financing Contemporary Healthcare Capital, LLC has provided a $6,850,000 senior mortgage loan, a $1,250,000 mezzanine loan, and a $800,000 preferred equity loan to finance the acquisition of a 120 bed licensed assisted living and memory care facility located in Sumter, S.C. The funds will also be used for the renovation of the […]

Senior Housing Finance Activity: Red Capital, Love Funding, Beech Street

Red Capital Partners Closes $20.6 Million Senior Housing Construction Loan Red Capital Partners, LLC, the proprietary banking arm of RED CAPITAL GROUP, LLC, announced recently the closing of a $20.6 million seniors housing balance sheet construction loan for Kensington of Sierra Madre in California.  Kensington of Sierra Madre will be a two-story assisted living and […]

Capital One Acquires Beech Street, Becomes Top-5 Multifamily Lender

Capital One Financial Corporation (NYSE:COF) announced Friday an agreement to acquire Beech Street Capital, a national originator and servicer of Fannie Mae, Freddie Mac, and FHA multifamily commercial real estate loans. Terms of the transaction were not disclosed.  The acquisition is expected to close in the fourth quarter of 2013. Beech Street was founded in […]

Senior Housing Finance Activity: Grandbridge, Cushman & Wakefield, LTC Properties

LTC Enters $141 Million Mortgage Loan Agreement with Prestige LTC Properties, Inc. (NYSE:LTC) announced recently it has entered a $141 million mortgage loan agreement with affiliates of Prestige Healthcare, secured by 15 properties with a total of 2,092 licensed skilled nursing beds and 24 independent living units in Michigan. The loan has a 30-year term […]

Senior Housing Finance Activity: Emeritus, Cambridge, Prudential, More

Prudential Mortgage Capital Closes Two Senior Housing Loans Totaling 19.8 Million Prudential Mortgage Capital Company recently closed two senior housing loans totaling nearly $20 million. The first was a $2.8 million, 20-year, fixed-rate loan to refinance Camino Retirement Apartments, a 98-bed assisted living and independent living community in Albuquerque, N.M. The second was a $17 […]

Senior Housing Finance Activity: Ziegler, Cambridge, Beech Street

Ziegler Closes $19.5 Million Appalachian Christian Village Financing Ziegler recently announced the closing of the $19.52 million tax-exempt, fixed-rate Series 2013 Bond issue for Appalachian Christian Village (ACV), a Tennessee not-for-profit corporation that owns and operates Appalachian Christian Village at Sherwood, a type-C CCRC, and Maple Crest, an independent living community, both in Johnson City, […]

Senior Housing Finance Activity: Ensign, Sabra, Beech Street & More

Lancaster Pollard Closes $63.4 Million Refinance for Trilogy Health Services Lancaster Pollard recently closed on a $63.4 million portfolio refinance for Trilogy Health Services, LLC, which operates multiple senior care communities throughout Kentucky, Illinois, Indiana, Ohio, and Michigan.  The transaction refinanced eight of Trilogy’s facilities, comprising a total of 568 skilled nursing beds and 340 […]