Bank credit options are proliferating for senior living borrowers in the post-2009 era, writes specialty investment bank Ziegler after seeing a substantial increase in lending last year for its clients. Ziegler obtained around $823 million of bank credit for 30 borrowers in 2013, an increase from the previous two years. Much of the growth came […]
Category: Finance & Development
From delivering papers in deep snow at the age of seven to navigating the landscape for senior living today, Lancaster Pollard co-founder T. Brian Pollard is no stranger to adapting to changing conditions. Since its founding in 1988, Lancaster Pollard has grown to encompass an umbrella of companies specializing in senior housing finance: Lancaster Pollard […]
Ensign Group Acquires Ariz. Senior Care Center for $9M The Ensign Group, Inc. (Nasdaq:ENSG), the parent company of the Ensign group of skilled nursing, rehabilitative care services, home health care, hospice care, assisted living and urgent care companies, announced recently the acquisition of the Horizon Post-Acute and Rehabilitation Center, a 196-bed skilled nursing facility in […]
Cambridge Arranges $9.6M Loan for Mich. ALF Cambridge Realty Capital Companies reports arranging a $9,631,00 loan to refinance the Crystal Creek Assisted Living community located in Canton, Mich. The fully-amortized 35-year loan was arranged for the owner using the HUD Section 232/Section 223(f) funding program and was underwritten by Cambridge Realty Capital Ltd. of Illinois, […]
There’s a new senior housing lender in town: an existing real estate mortgage services provider recently announced an expansion from its affordable and conventional multifamily housing finance platforms into healthcare. Centerline Capital Group has launched a new national healthcare lending platform that will fund loans for the acquisition, new construction, and sub-rehabilitation of community-based residential […]
Health Care REIT, Inc. (NYSE: HCN) today reported record operating results for the quarter and year ended December 31, 2013, driven by “unstoppable forces” that will continue to benefit its senior housing portfolio. The company completed a record quarter of earnings with normalized Funds from Operations (FFO) per share of $0.99, a 16% increase from […]
Ventas, Inc. (NYSE:VTR) is taking a ‘hakuna matata’ approach to its ability to compete with a growing number of non-traded real estate investment trusts entering the senior housing and healthcare market. “Our sector is large, it’s growing, it’s highly fragmented, and there are lots of opportunities,” said Ventas CEO Debra Cafaro during the REIT’s fourth quarter […]
Senior Housing News will be taking a brief pause in observance of President’s Day, but will return Tuesday, February 18. In the meantime, here are the top five stories grabbing Senior Housing News readers’ attention this week: Health Care REIT, Revera Overhaul Sunrise Management in Buyout Deal—Private equity is out when discussing the ownership of […]
Brookdale Senior Living says it’s actively seeking acquisitions in the fragmented senior housing industry via a “small, tactical” buying strategy or partnering up for larger portfolios. “We remain active in seeking acquisitions in a fragmented industry that has considerable potential for consolidation opportunities,” said CEO Andrew Smith during the company’s fourth quarter earnings call. The company […]
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 […]
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