KeyBank National Association has been the No. 1 Fannie Mae lender in the senior housing sector for three consecutive years, according to rankings released Monday. Berkadia Commercial Mortgage, LLC claimed the second spot in the latest rankings, for 2014. Berkadia ranked No. 4 in 2013, which was the first year for which Fannie Mae named the […]
Category: Fannie Mae
Chicago-based owner and operator Enlivant (formerly Assisted Living Concepts) this week closed a $334.4 million Fannie Mae credit facility from KeyBank Real Estate Capital for a national portfolio of senior living communities. The loan was secured by 54 assisted living properties across 12 states, including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South […]
Mainstreet Names 5 New Staff Members to Join Growing Team Carmel, Indiana-based Mainstreet, the nation’s largest developer of post-acute health care properties, has announced five new members will join its team. Michael Klingl has joined Mainstreet as a development director. Klingl most recently worked for GreenbergFarrow in Chicago, where he served as a senior development manager for more […]
A HUD lender is seeing a post-recession uptick in not-for-profit senior housing sales to for-profit buyers as organizations turn their focus to core assets that most strongly align with their missions. For nonprofits left in a more precarious financial situation by the Great Recession, selling non-core assets is a strategy for maximizing capital that can […]
Ziegler Closes $73 Million Financing for Ill. CCRC Development Ziegler recently closed issuance on $73,465,000 of Series 2014 tax-exempt, fixed-rate bond financing for the development of MRC The Crossings in League City, Texas, sponsored by Methodist Retirement Communities, a not-for-profit corporation. In December of 2012, MRC purchased approximately 19 acres and began funding the pre-development […]
New entrants into the senior housing space are creating acquisition and development financing opportunities, lenders say. Bill Kauffman, Managing Director of Oak Grove Capital’s senior housing division, has seen continued entrance of equity investors moving into the senior housing market and forming alliances with existing operators and a handful of new operators—moves that will create more […]
Fannie Mae on Monday released its first-ever list of lenders with the most senior housing financing production for 2013, topped by KeyBank National Association. The Top 5 list was released in conjunction with Fannie Mae’s top lenders across all sectors and its top Multifamily Affordable Housing lenders. Fannie Mae provided $28.8 billion in financing to […]
Prestige Healthcare on Thursday closed the acquisition of 15 senior care properties in Michigan from a local owner and operator, funding the purchase with a loan from LTC Properties Inc. (NYSE:LTC) in a transaction handled by Evans Senior Investments. In August, LTC Properties agreed to a $141 million mortgage with Louisville, Ky.-based Prestige for the […]
The Federal Housing Finance Agency is looking to the public for feedback as to how to pare down its multifamily lending programs. Through a request for public comment issued Friday, the FHFH, which oversees government-sponsored enterprises Fannie Mae and Freddie Mac, both of which are active in the financing of senior housing development, sought advice […]
Ever since the “Big 3” healthcare real estate investment trusts (REITs) began showing up to the biggest senior housing acquisition bashes of the last few quarters, agency finance has been forced to look for new parties to attend, many of which involve long-term financing. Despite improving liquidity for senior housing and ongoing talks regarding the […]
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