Financings Ziegler Closes $71 M for Virginia Community Ziegler announced the successful closing of $71 million Series 2022A and 2022B bonds for Shenandoah Valley Westminster-Canterbury (SVWC). SVWC is a nonprofit organization that operates a Westminster, Virginia-based life plan community with nearly 400 residents with 218 independent living units, 48 assisted living units, 12 memory care […]
Greystone
Real estate finance company Greystone has appointed former bank exec Hafize Gaye Erkan as CEO. Erkan most recently was co-CEO, president and board member at First Republic Bank (NYSE: FRC) where she oversaw growth, wealth management, deposits and total assets. Before that, she worked as the head of financial institutions for group analytics and strategies […]
The U.S. Department of Housing and Urban Development (HUD) funded far fewer loans in the first quarter of this year compared to last year, recently published Trepp data shows.Factors such as omicron, high expenses and labor shortages kept firms on the sidelines. HUD funded 346 loans totaling $6.04 billion for 1Q, and that was down […]
Sonida Senior Living (NYSE: SNDA) has entered into a loan agreement to refinance existing mortgage debt, addressing all of the company’s debt maturities through 2024 and positioning it to grow. The transaction consists of an $80 million initial term loan and up to $50 million of additional capital, with an uncommitted $40 million accordion provision […]
Sales Harrison Street Sells 5 to The Springs Living for $193M Harrison Street announced the sale of a portfolio of five senior housing properties to The Springs Living at a value of $193.5 million. The portfolio includes 622 independent living, assisted living, and memory care units located in Eugene and Medford, Oregon; and Butte and […]
Financings Regions closes on $21 million for construction The healthcare real estate team of Regions Bank closed on a loan for more than $21.7 million at approximately $271,000 for new construction. The loan will build an 80-unit community located in Los Angeles County. The borrowers are a joint venture that includes a developer/owner, a partner/operator, […]
Financings Greystone closes on largest health care CLO Greystone announced it closed on a $450 million commercial real estate collateralized loan obligation (CLO), besting its own benchmark of $300 million set back in 2018. Like the CLO in 2018, this CLO is backed exclusively by bridge loans for health care projects, according to a statement […]
Berkadia and Solera Senior Living announced the acquisition of the Edgeworth Park at New Town assisted living and memory care community in early November. Berkadia announced the deal on behalf of Connecticut-based Wheelock Street Capital from sellers Jon Liebler, Derek Robertson, and Scott Wise. Solera will partner with Wheelock Street Capital and serve as the […]
Brookdale Senior Living (NYSE: BKD) is taking further steps to restructure its outstanding debt. The Brentwood, Tennessee-based owner and operator of senior housing communities on Tuesday announced plans to offer up to $200 million in convertible senior notes, due on October 15, 2026. The notes are unsecured obligations of Brookdale, and interest will be paid […]
Five Star Senior Living (Nasdaq: FVE) this week offered a business update, covering its transition of 108 communities to new operators, as well as occupancy improvements for the communities it will continue to operate for Diversified Healthcare Trust (Nasdaq: DHC). Occupancy across the Diversified portfolio ended August at 74.7%, a 100 basis point improvement over […]
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