Masterpiece Living and 3 AgeWell Living communities form strategic partnership Masterpiece Living partnered with three communities operated by AgeWell Living: The Crossings at Eastchase in Montgomery, Alabama; The Crossings at Iron Bridge in Chester, Virginia; and The Chamberlain in Hampton, Virginia. Cushman & Wakefield advises on $37.1M financing for South Carolina assisted living community Cushman […]
Blueprint Healthcare Real Estate Advisors
Brookdale terminates $250M credit facility; refinances assets Brookdale Senior Living (NYSE: BKD) secured $267 million of non-recourse mortgage debt and terminated its $250 million revolving credit facility. The debt was obtained from Capital One, through Freddie Mac’s Capital Markets Execution Program. The financing includes $191 million of 2.89% fixed rate notes and $76 million of […]
Healthpeak selling Kentucky property managed by Atria Senior Living Healthpeak Properties (NYSE: PEAK) agreed to sell Atria Blankenbaker, a personal care and independent living facility managed by Atria Senior Living, to Wickshire Senior Living, an operator based in Brentwood, Tennessee, Nashville Business Journal reports. Wickshire’s portfolio includes communities in Georgia, Ohio, Indiana and Wisconsin. The […]
Fitch Ratings revises outlooks on 3 CCRCs Fitch ratings announced ratings outlooks updates on the following continuing care retirement communities: The ratings agency placed the series 2016 senior living revenue bonds issued by the Industrial Development Authority of the City of Glendale, Arizona on behalf of Royal Oaks Life Care Community, operating as Royal Oaks, […]
Love Funding closes $16M in HUD financing Love Funding partnered with the Department of Housing and Urban Development (HUD) on two senior housing financing packages totaling $16.04 million. The firm’s parent company, Midland States Bank, was able to complete short-term bridge loans to secure funding. Highlights: A $3.14 million acquisition of Egida Hogar San Antonio, […]
In early March, five residents moved out of Rose Haven Assisted Living, a 28-bed assisted living facility in Merrimack, New Hampshire, right before the coronavirus pandemic swept across the U.S. The family-owned and operated facility already operated under tight margins. The loss of these residents — which were among the highest billed in Rose Haven’s […]
Ziegler completes 3 transactions totaling $240M Ziegler completed the following transactions: A Series 2020 Bond package totaling $199.4 million for Acts Life-Retirement Communities, consisting of $115.11 million in Series 2020 tax-exempt bonds and $84.3 million in 2020 taxable bonds. The tax-exempt bonds were issued through the Wisconsin Public Finance Authority, Palm Beach County (Florida) Health […]
Senior housing capital markets remain unstable, four months after the coronavirus pandemic. But they are no longer in a state of “peak volatility.” Debt and equity lenders are returning to the space, but debt lenders in particular are slower to announce their presence, quick to retreat back to the sidelines, and are extremely cautious with […]
Federal Reserve’s bond-buying program includes Welltower, Ventas, Healthpeak Welltower (NYSE: WELL), Ventas (NYSE: VTR) and Healthpeak Properties (NYSE: PEAK) are among the real estate investment trusts receiving funding as part of the Federal Reserve Bank of New York’s Secondary Market Corporate Credit Facility (SMCCF), The Real Deal reported. The program, established as part of the […]
Welltower announces $300M cash tender offer Welltower (NYSE: WELL) announced a cash tender offer for up to $300 million in 3.95% and 3.75% notes, both due in 2023. The offer will expire on July 14, 2020 at midnight Eastern. Welltower has retained BofA Securities, J.P. Morgan Securities and Wells Fargo Securities to serve as dealer […]