Dominium secures $52M for Arizona community
Plymouth, Minnesota-based affordable housing developer Dominium secured a $51.7 million construction and permanent financing package for Solstice of Mesa, a 237-unit 55-and-over affordable senior community in Mesa, Arizona. KeyBank provided the loan using its Private Placement Program. Dominium will manage the property when it is completed in summer 2021.
JLL arranges $48M refinancing for Manhattan assisted living facility
A JLL Capital Markets team of Senior Director Peter Rotchford, Directors Zach Rigby and Jason Skalko and Analyst Dillon Donald arranged a $47.5 million refinancing package for The 80th Street Residence, a 70-bed assisted living and memory care community on Manhattan’s Upper East Side.
The JLL team originated the package on behalf of owners Wayne Kaplan and Larry Moorehead, and the debt was provided by Israel Discount Bank (IDB Bank).
Greystone arranges $69M refinancing for Manhattan affordable senior housing community
Greystone Managing Director Rob Meehan and Senior Vice President Jon Morales provided a $68.5 million refinancing package for Capitol Apartments, a 278-unit, fully affordable senior housing community in Manhattan. The loan replaces a prior Fannie Mae loan, and proceeds will be used to finance maintenance and capital improvements on the property.
OneDay closes $5.2M Series A investment led by Silverton Partners
Senior living video platform OneDay closed on a $5.2 million Series A round of financing. The lead investor in the round was Silverton Partners, with additional participation from Spieker Partners and Green Park and Golf Ventures.
OneDay creates branded video content to increase resident engagement. The app-based software as a service (SaaS) platform provides prompts to get people talking about certain topics while being filmed, and then packages the video with a company’s branding.
OREC Securities arranges $25M construction financing
Lancaster Pollard’s investment banking affiliate, OREC Securities, recently assisted Brickmont Assisted Living in financing the construction of a new facility in Cobb County, Georgia. The $24.5 million tax-exempt bond financing through the Section 142(d) program will allow the organization to increase its footprint in the Atlanta area. The new facility will contain 131 units for assisted living and memory care services. Conner Girdley led the transaction for Lancaster Pollard.