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 […]
Capital One Bank
With a demographic boom ahead driving undeniable demand, the senior housing sector is attracting a slew of investors, an investment banking firm said during a webinar Thursday. There has been a shift among investors toward the real estate industry, specifically signaling a direct need of those trying to get into the senior housing space, said […]
Senior housing is looking like the ‘flavor of the month’ for investment, its appeal increasing thanks to favorable demographic and performance trends that are expected to continue, investors say. Private equity firm Kayne Anderson Real Estate Advisors has invested more than $700 million into senior housing assets in recent months and believes the sector is […]
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 […]
Capital One Financial Corporation (NYSE:COF) announced Friday an agreement to acquire Beech Street Capital, a national originator and servicer of Fannie Mae, Freddie Mac, and FHA multifamily commercial real estate loans. Terms of the transaction were not disclosed. The acquisition is expected to close in the fourth quarter of 2013. Beech Street was founded in […]
A joint venture between an established senior living developer and operator and a private equity firm currently has two continuing care retirement communities (CCRCs) in pre-development with plans to expand a third at a time when activity in the sector has been largely halted related to the availability of financing. LCS-Westminster, a partnership between Des […]
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 […]
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 […]
With more defaults expected in the continuing care retirement community (CCRC) space among those financed with tax-exempt bond financing that opened around the time of the economic downturn, private equity investors are being presented with opportunities that could yield substantial returns. “There will be billions of dollars of defaults in that space in the next […]
Sunrise Announces Changes to 5.00% Junior Notes Sunrise Senior Living, LLC announced Friday that in connection with the closing of the transactions by among Health Care REIT, Sunrise Senior Living, Brewer Holdco, Inc., Brewer Holdco Sub, Inc., and Red Fox, Inc., Sunrise delivered a notice to holders of its 5.00% Junior Subordinated Convertible Notes due […]
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