Prudential Expands Team, Raises $568 Million for Newest Senior Housing Fund

Prudential Real Estate Investors, the real estate investment and advisory business of Prudential Financial, Inc. (NYSE:PRU) recently completed the final close for its fourth senior housing fund, Senior Housing Partners IV, after securing $568 million of discretionary capital from institutional investors. This marks the largest senior housing fund ever for the firm. “There is a […]

Warren Buffett Makes Affordable Senior Housing Investment

A newcomer to the Chicago-area affordable senior housing scene has arrived in the form of billionaire investor Warren Buffet, who recently launched a new venture to finance low-income housing projects, reports Crain’s. The first project, St. Anthony Supportive Living Facility, located in the city’s south suburbs, is a nearly $29 million center for Medicaid-supported seniors. […]

Senior Housing & Care Finance Activity: KeyBank, Capital One, Grandbridge

Grandbridge Real Estate Capital Facilitates $7 Million Financing for ALF Renovation Grandbridge Real Estate Capital recently facilitated the financing for an affiliate of The Carlyle Group’s joint venture with Atlanta-based Formation Development Group to acquire and renovate The Renaissance on Peachtree, an assisted and independent living community located in the Buckhead neighborhood of Atlanta, Ga. […]

Sabra Gets Two Pa. Skilled Nursing Facilities for $29.9 Million, Makes Loan Investment

Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired two skilled nursing facilities located in Pennsylvania for $29.9 million, and also funded a mezzanine loan investment for Meridian Equity Investors. The nursing facility acquisitions were a sale-leaseback transaction with affiliates of the sellers; the purchase prices was funded with available cash. Each facility has 60 licensed […]

Senior Housing & Care Finance Activity: Berkadia, Lancaster Pollard, Love Funding

Berkadia Originates $62 Million in Senior Housing Financing in Three Transactions Berkadia Commercial Mortgage recently originated a total of $61.7 million in financings for seniors housing properties located in California, Oregon, Texas, and Virginia. Berkadia Arranges $17.5 Million of Refinancing for Two Emeritus-Operated Communities For two communities operated by the Emeritus Corp., Berkadia arranged a […]

An Inside Look at How Senior Care Lenders are Responding to Rate Cuts

Excellent communication, a good reputation, and solid financials are crucial to senior care operators’ ability to get financial support in the current economic and reimbursement environment, said a panel of financiers during a session on how lenders are responding to Medicare rate cuts at NIC’s 2012 Skilled Nursing Investment Forum. Key Considerations for Developing Operator-Lender […]

Senior Housing & Care Finance Activity: Cambridge, Ziegler, & More (3/29/2012)

Cambridge Realty Capital Closes $7.7 Million HUD Refinance for Ill. Senior Living Center Cambridge Realty Capital Companies closed a $7.7 million HUD Lean loan to refinance an Illinois assisted living facility in Springfield, Ill. The 40-year, fully-amortized loan was for the Springfield Supportive Living Center’ and was arranged for the property’s owner through HUD’s Section […]

Senior Living Financing—It Exists, But You Gotta Get Creative. Here’s How.

The financial crisis that began in 2008 was like a large-magnitude earthquake, its aftershocks can still can be felt today by lenders and borrowers. It dramatically changed funding opportunities for both for-profit and nonprofit senior-living providers. So after this seismic shake-up, what does the financing landscape look like for 2012? For starters, although interest rates […]