Financings
Crescent Real Estate Raises $265M for Development
Crescent Real Estate announed it has raised $265 million to buy, build and operate various ventures, according to reporting by the Dallas Morning News.
Crescent will reportedly provide as much last $4 billion in additional investment capacity through partnerships with clients and investors.
Crescent, based in Fort Worth, Texas, currently has about $4.5 billion in assets and manages a portfolio with about $500 million that includes senior living communities in addition to hospitality, multifamily, office and more.
Cambridge Realty Provides $10M Refinancing Loan
Cambridge Realty Capital Companies announced it provided a $10.4 million HUD loan lean for a dual community in Iowa.
The communities — called Oakview Nursing and Rehabilitation and Ridgeview Assisted Living — are a dual community campus in Burlington, Iowa that are also referred to as The Views of Burlington.
The Views will use the loan lean to refinance existing HUD loans.
Ziegler Closes Financing for Senior Living Community
Ziegler announed the successful closing of Series 2022A and Series 2022B Senior Living Revenue Bonds for an Arizona community.
The community — called La Posada — is a continuing care retirement community (CCRC) with 490 independent living apartments, 51 additional free-standing homes and 135 assisted living units located in Oro Valley, Arizona.
Proceeds from the sale of the bonds will be used in conjunction with an equity contribution to fund the first phase of an effort to refinance an outstanding bank loan.
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