Senior living communities will be among the targeted investment areas of a new health care finance venture between Great Elm Capital Corp. and Berkadia. The venture, announced Monday, will target a variety of senior housing product types across the care continuum, ranging from independent living to skilled nursing and post-acute care. Though the venture’s backers […]
Berkadia Commercial Mortgage LLC
RED Capital Group Closes $11.1 Million Refinance for MBK Senior Living RED Mortgage Capital, the proprietary mortgage banking arm of RED Capital Group, LLC, has closed an $11.1 million refinance loan for Chancellor Gardens of Clearfield, an MBK Senior Living-owned and operated community located in Clearfield, Utah. “MBK was seeking a customized product for this […]
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 […]
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 […]
Housing & Healthcare Finance Closes $58M in HUD Loans During November and December Housing & Healthcare Finance closed a total of $58,789,000 in HUD loans. The loans included a total of $22.5 million in HUD Section 232/223(f) loans to refinance four skilled nursing facilities in Missouri. Another $19.4 million of loans were through the HUD […]
CNL Lifestyle Properties Acquires Colo. Senior Housing Community Senior living real estate investment trust CNL Lifestyle Properties has acquired MorningStar at Dayton Place in Aurora, Colo., for approximately $29.9 million. The senior housing community will continue to be managed by its current operator, MorningStar Senior Living, which currently has 21 properties under management or development […]
Housing & Healthcare Finance Closes $160 Million of Loans Housing & Healthcare Finance has closed $159,414,800 worth of HUD loans in the past two months in 12 transactions across six states. Eleven of the loans were for skilled nursing facilities, located in Missouri, Illinois, New York, Ohio, New Jersey, and Florida, while the twelfth transaction […]
Lancaster Pollard Assisted Kan. CCRC with Bond Refinance Lancaster Pollard recently assisted Brewster Place Retirement Community, a not-for-profit continuing care retirement community in Topeka, Kan., in refunding an existing bond issue. The 30-acre CCRC has 229 independent living units, 28 assisted living units and a fully licensed 97-bed skilled nursing facility. Lancaster Pollard developed a […]
While the past year has been characterized by robust senior housing financing activity, uncertainty related to the fiscal cliff and tax changes has amped up transactional pace prior to 2013—even though the new year is not expected to be substantially different in terms of financing availability. The fiscal cliff is affecting many areas of the […]