Capital One Bank Announces $115 Million in Financial Transactions Capital One Bank recently announced it acted as a joint bookrunner for an $85 million, seven-year senior secured term loan to subsidiaries of Parkwood Properties, Inc. and a $30 million revolver loan to Palm Garden Healthcare Holdings, LLC. Parkwood Properties will use the term loan to refinance […]
Cain Brothers
Greystone Closes $117 Million Portfolio Acquisition of Affordable & Senior Housing Greystone recently announced the closing of a $117 million multifamily transaction in Georgia to be used toward the acquisition and rehabilitation of 44 affordable housing properties, more than half of which are designated senior housing. The portfolio contains 1,362 units that serve low-income households in […]
Consolidation activity among smaller continuing care retirement community systems has been low in recent years despite some compelling reasons for doing so, but it may ramp up as interest rates climb. Rather than mergers or outright acquisitions, through, CCRCs may look toward affiliation. There’s been a surprisingly low level of M&A activity among CCRCs in the […]
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 […]
Proposed reimbursement cuts to the home health industry are offering senior living providers a ripe consolidation opportunity to acquire new assets at depressed values. Last month, the Center for Medicare & Medicaid Services (CMS) proposed a rule for the Home Health Prospective Payment System (HH-PPS) that would reduce the national, standardized 60-day episode reimbursement rate […]
Three Pillars Senior Living Communities Issued $22.8 Million Bonds Cain Brothers served as sole underwriter in the issuance of the Three Pillars Senior Living Communities Series 2013 bonds, issued as unenhanced fixed rate bonds and rated “A-” by Fitch on the underlying credit strength of Three Pillars. The $22.82 million bond issuance was used to […]
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 […]
Capital One Closes $19.5 Million Loan for Revera Health Systems Capital One Bank announced on Monday it had provided a three-year, $19.5 million secured term loan to Revera Health Systems, Inc., a long-term care and rehabilitation provider with multiple skilled nursing centers across the U.S. Proceeds of the loan were used to refinance existing senior […]
KKR to Provide $150 Million of Equity to Sentio Healthcare Properties Real estate investment trust Sentio Healthcare Properties, Inc. announced the signing of a definitive agreement with an affiliate of global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) for a commitment to provide $150 million of convertible preferred equity to Sentio in the […]
Lancaster Pollard Closes $63.4 Million Refinance for Trilogy Health Services Lancaster Pollard recently closed on a $63.4 million portfolio refinance for Trilogy Health Services, LLC, which operates multiple senior care communities throughout Kentucky, Illinois, Indiana, Ohio, and Michigan. The transaction refinanced eight of Trilogy’s facilities, comprising a total of 568 skilled nursing beds and 340 […]
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