Senior Housing Finance Activity: Greystone, Oak Grove, Cambridge

Here’s a roundup of some of the most recent financing transactions in senior housing and care. Greystone Provides $36 Million HUD Loan to Refinance N.Y. Skilled Nursing Facility Greystone, a national provider of multifamily and healthcare mortgage loans, announced June 9 it provided a $36.7 million HUD loan to refinance a 314-bed skilled nursing facility […]

New HUD 232 Handbook Makes Senior Housing Loans Easier

The U.S. Department of Housing and Urban Development (HUD) released a new handbook covering the Section 232 Healthcare Mortgage Insurance Program, which features the LEAN processing system. The handbook, issued May 22, is intended to be a one-stop-shop guide to the Section 232 program, covering all aspects of production and asset management. The new guide […]

Senior Housing Finance Activity: Beech Street, Cambridge, Red Capital

Beech Street Refinances Illinois Supportive Living Facility for $20.7 Million  Beech Street Capital, a Capital One company, has provided a $20.7 million HUD loan to refinance a supportive living facility in Illinois. Under a federal waiver, supportive living facilities in Illinois can receive Medicaid support for low-income residents that need assistance with activities of daily living, […]

Senior Housing Finance Activity: Grandbridge, Lancaster Pollard, HJ Sims

Grandbridge Facilitates Debt Assumption for HCN Acquisition Grandbridge’s Seniors Housing and Healthcare Finance Team recently facilitated the acquisition and approximately $4.4 million loan assumption of Cascades at Grass Valley, formerly Highgate Grass Valley, in Grass Valley, Calif., on behalf of Health Care REIT. The purchase price was not disclosed. Cascade Senior Living will operate the […]

HUD Lenders Predict More Senior Housing Construction in 2014

In a rising interest rate environment, senior housing lenders who work with the Department of Housing and Urban Development’s LEAN 232 program say they are anticipating fewer transactions in the coming year.  But it could lead to more opportunity for new construction loans under HUD, which has comprised just a small percentage of HUD lending […]

Senior Housing Finance Activity: AdCare, Oak Grove Capital, Cambridge

Cambridge Subsidiary Closes $28 Million Loan Modification for Senior Housing Portfolio Cambridge Investment and Finance Co., a subsidiary of Cambridge Realty Capital Companies, announced closing a $28 million conventional loan modification for four properties it owns and operates as SunRidge Senior Living in El Paso, Texas. The firm purchased the portfolio 18 months ago from […]

Senior Housing Finance Activity: Berkeley Point Capital, Love Funding, Cambridge

Washington Trust Finances $5 Million ALF Washington Trust’s Commercial Real Estate Group provided $5,000,000 in construction financing to Scandinavian Home, Inc. for a 2,000 square feet addition to an assisted living facility in Cranston, RI as well as renovations to existing facilities. Founded in 1930, Scandinavian Home is a non-profit community located in the Edgewood […]

Senior Housing Finance Activity: NorthStar, NHI, Ziegler

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 […]

Senior Housing Finance Activity: Cambridge, The Carlyle Group, Ziegler

Cambridge Closes $42.8 Million of Senior Housing & Care Loans Cambridge Closes $14.9 Million Nursing Home Loan Cambridge Realty Capital Companies recently announced the closing on a $14.9 million loan to refinance Green Park, a 188-bed skilled nursing home in St. Louis, Mo., announced chairman Jeffrey Davis.  The fully-amortized, 36-year term loan was arranged for […]