Capital One Closes $11.5M Line of Credit for Long-Term Care Provider Capital One Commercial Bank announced today that it has provided a $11.5 million revolving line of credit and a standby letter of credit to Carespring Healthcare Management. The company is a repeat customer of the healthcare team at Capital One Bank. The line of […]
Cambridge Realty Capital Companies
Love Funding Secures $13.6M Refinancing For Calif. Affordable Senior Housing Love Funding closed a $13.6 million refinancing loan for Sunset Normandie Towers, a 148-unit Section 8 senior living facility in Los Angeles, Calif. The financing was secured by Senior Director Artin Anvar of Love Funding’s Washington, D.C. office through the U.S. Department of Housing and […]
It’s no secret that 2014 was an eventful year for senior housing. Brookdale Senior Living made waves when it positioned itself as an industry giant following its merger with Emeritus Senior Living Corp., and that deal was just one example of the industry’s record-breaking merger and acquisition activity that generated headlines this year. And much […]
Grandbridge Refinances $7M for Ga. Senior Housing Community The Atlanta-based Seniors Housing and Healthcare Finance team of Grandbridge Real Estate Capital closed a $7,064,700 first mortgage loan secured by Presbyterian Home and Retirement Community of Quitman. The transaction was referred to Grandbridge by BB&T bank. Funding for the full amortizing 35-year refinance was provided through […]
In case you missed them, here are the top five stories grabbing Senior Housing News readers’ attention this week: Home Health Has Potential, But Faces 3 Real Threats — As an increasing number of senior living providers offer home health care services to expand their reach beyond community walls, experts note that there are steep challenges […]
Here’s a roundup of some of the most recent financing transactions in senior housing and care. Housing & Healthcare Finance Closes $19.4M HUD Loan for N.J. SNF Housing & Healthcare Finance (HHC Finance) closed a $19.4 million 232/223(f) HUD loan for a 189 bed skilled nursing facility (SNF) in Lincoln Park, N.J. The facility was […]
The infamous queue of applications for the Department of Housing and Urban Development’s senior housing and healthcare finance programs has been dissolved, and timelines for new applications are zipping through up to 10 times faster than before. Two to three years ago, it could take a year—or longer—to have a HUD Section 232 application picked […]
Berkadia Secures $44 Million for N.Y. Skilled Nursing Facilities Berkadia Commercial Mortgage LLC recently arranged $43.9 million of financing for two skilled nursing facilities located in Nassau County and Dutchess County, N.Y. Vice President Jay Healy of Berkadia’s Seniors Housing and Healthcare group worked with the owner of both properties to secure the fixed-rate financing. […]
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, […]
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 […]