Coming off a big year for agency financing in the senior living lending environment, 2013 looks to be no different in terms of the participation of the Federal Housing Administration, Fannie Mae and Freddie Mac in the market. Some areas may even be positioned for growth. Last year, the Department of Housing and Urban Development […]
Cambridge Realty Capital
Prudential Mortgage Capital Closes Two Senior Housing Loans Totaling 19.8 Million Prudential Mortgage Capital Company recently closed two senior housing loans totaling nearly $20 million. The first was a $2.8 million, 20-year, fixed-rate loan to refinance Camino Retirement Apartments, a 98-bed assisted living and independent living community in Albuquerque, N.M. The second was a $17 […]
Ziegler Closes $19.5 Million Appalachian Christian Village Financing Ziegler recently announced the closing of the $19.52 million tax-exempt, fixed-rate Series 2013 Bond issue for Appalachian Christian Village (ACV), a Tennessee not-for-profit corporation that owns and operates Appalachian Christian Village at Sherwood, a type-C CCRC, and Maple Crest, an independent living community, both in Johnson City, […]
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 […]
Ventas Sells $925 Million of Senior Notes Ventas Inc. (NYSE:VTR) subsidiaries Ventas Realty, Limited Partnership and Ventas Capital Corporation recently announced the issuance and sale of $700 million aggregate principal amount of its 2.00% senior notes due 2018 and $225 million principal amount of their 3.25% senior notes due 2022. View the 8-K. Cambridge Closes […]
Lancaster Pollard Closes $107.4 Million of Loans in November Lancaster Pollard closed 16 senior living transactions for a total loan amount of $107.4 million. The 16 facilities, all located in the Midwest, contained a total of 1,239 skilled nursing beds and 416 assisted living units. All the financings used the FHA Sec. 232/223(f) to refinance […]
The Federal Housing Administration might be needing a financial lifeline from the Treasury, according to Bloomberg, but lenders in the senior housing and care space aren’t expecting another hike in loan insurance premiums for FHA-insured programs. Continued losses stemming from the housing market collapse are hitting the FHA hard. Ahead of a financial analysis expected […]
The Department of Housing and Urban Development (HUD) processed nearly $5.5 billion of senior housing loans in 2012 through its Section 232 LEAN program, with volume skyrocketing more than 66% above last year’s $3.3 billion record. HUD’s LEAN program became the largest single source of debt capital to the senior housing industry with 706 loans […]
Walker & Dunlop Closes $28.5 Million Loan for Hawaii Senior Housing Community Walker & Dunlop, LLC recently provided $28.5 million in Fannie Mae financing for The Plaza at Mililani, a senior housing community in Mililani, Hawaii. The loan was to refinance the 72-unit, 128-bed property and was structured with a 10-year term and a 30-year […]
Kindred Healthcare Expands Credit Capacity by $200 Million Kindred Healthcare Inc. (NYSE:KND) announced the successful completion of amendments to increase its senior secured term loan facility by $100 million, and expand the borrowing capacity under its senior secured asset-based revolving credit agreement by the same amount. Net proceeds of the additional term loan borrowings, issued at […]
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