The Department of Housing and Urban Development’s Section 232 Healthcare Mortgage Insurance program has always been attractive to some senior housing borrowers—and that likely won’t change under President Donald Trump. In fact, HUD financing may become even more enticing to senior housing borrowers this year, especially with The Federal Reserve on Wednesday raising its benchmark […]
Cambridge Realty Capital
Ziegler Closes $34.49 Million Bond Issue on Behalf of UMRH Chicago-based speciality investment bank Ziegler announced the successful closing of the $34,485,000, tax-exempt, fixed-rate Series 2016A Bond issue on behalf of The United Methodist Retirement Homes (UMRH). UMRH, a Life Care Services partner since 2000, is a multi-site operator of three continuing care retirement communities […]
Mainstreet Health Investments Inc. Completes Canadian Public Offering Carmel, Indiana-based Mainstreet, the largest developer of transitional care properties in the United States, announced that its affiliated publicly traded Canadian real estate company, Mainstreet Health Investments Inc. (TSXV: HLP.U), completed its offer and sale of 9.5 million common shares for $95 million in gross proceeds. “We are energized about […]
Mainstreet Health Investments to Seek $95 Million in Canadian Share Offering Toronto-based Mainstreet Health Investments Inc. is planning to raise $95 million by listing on the Toronto Stock Exchange and selling shares in Canada. Mainstreet Health Investments, which owns 11 seniors housing and care properties in Illinois, is controlled by Carmel, Indiana-based real estate developer Mainstreet Property Group. […]
Interest in China’s senior housing market is growing, with an increasing number of prospective residents planning for the future and investors looking to secure a piece of the pie in the world’s largest economy. And demand for senior housing might boom in just one generation, thanks to shifting perceptions among one particular group: China’s young […]
Financing for senior housing from the U.S Department of Housing and Urban Development (HUD) continues to dip dramatically, according to recently released numbers. HUD’s Lean mortgage insurance program, which finances seniors housing properties, closed $2.7 billion of loan volume during the fiscal year ending Sept. 30, 2015. This is down 35.7% from the previous year’s total of $4.2 […]
N.J. Senior Housing Provider Receives $8M for Seniors Affordable Housing Springpoint Senior Living received approval from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) for $7.8 million dollars in funding to provide rental housing in Ocean County, N.J. for older adults who were impacted by Superstorm Sandy. Springpoint will use these funds along with […]
Lancaster Pollard Provides $5M Acquisition Financing for N.C. AL, Dementia Care Facility Lancaster Pollard’s recently launched finance company provided a $5.3 million balance sheet loan to fund Meridian Senior Living’s acquisition of Lawyer’s Glen Retirement Living Center. Lawyer’s Glen Retirement Living Center is an 82-bed licensed assisted living (AL) and dementia care facility located in Charlotte, N.C. […]
Owning versus leasing is not always a clear cut decision, but there are many questions long-term care owners large and small should ask in advance of transitioning into ownership from leasing, or vice versa. Understanding the advantages and disadvantages — including common misconceptions — of one’s next real estate move will help achieve the best […]
Here’s a roundup of some of the most recent financing transactions in senior housing and care. Cambridge Arranges $6.5M HUD Lean Loan for Ill. ALF Cambridge Realty Capital Companies arranged a $6,560,000 HUD Lean loan to refinance Morris Senior Living, a 76-bed assisted living facility located in Morris, Ill. The fully-amortized, 35-year loan was […]