A “pivotal” second quarter and debt restructuring to shore up its balance sheet has set up Sonida Senior Living (NYSE: SNDA) for future rate growth, occupancy gains and investments, according to CEO Brandon Ribar. Last month, Sonida announced a debt restructuring and an equity infusion agreement covering 49 assets financed by Fannie Mae and Ally […]
Earlier this spring, I received a LinkedIn message related to the future of the TPG/Sabra Healthcare REIT (Nasdaq: SBRA) joint venture senior living portfolio, operated by Enlivant. The message was from a relative of a resident, sharing a letter stating that a new operator would soon be taking over. I eventually learned the future operator […]
Brookdale Senior Living (NYSE: BKD) wrapped up 2021 by completing a pair of significant moves; completing a $100 million refinancing and prepaying substantially all of its remaining 2022 maturities. “By proactively prepaying substantially all remaining 2022 maturities early, we will save several million dollars of negative carry,” Brookdale Executive Vice President and CFO Steven Swain […]
Hudson Originates $37.75 Bridge Loans for Columbia Pacific Advisors Hudson Realty Capital completed its first health care deal on the heels of hiring senior living industry veteran Ashley Wilkens as director, deputy chief underwriter. The transaction involved two bridge loans aggregating $37.75 million secured by two senior living and memory care communities. One is The […]
Colony Capital (NYSE: CLNY) has transferred ownership of 36 senior housing properties to a lender, as a step toward resolving a default. Los Angeles-based Colony is a global digital infrastructure, real estate and investment management firm with $46 billion in assets under management. Its health care portfolio includes senior housing, skilled nursing facilities, medical office […]
Capital Senior Living (NYSE: CSU) took further actions to improve its financial position during the coronavirus pandemic in the second quarter of 2020. But the moves raise deeper questions about its status as an ongoing concern. Notably, Capital announced in an SEC Form 8-K filing on Thursday that it is in negotiations with Fannie Mae […]
HFF Advises on $115 Million Financing for Seattle Senior Housing Development Holliday Fenoglio Fowler, L.P. (HFF) has advised Columbia Pacific Advisors on the $114.69 million financing for a luxury, high-rise senior housing property in Seattle. The 24-story property—620 Terry—will offer 243 Class A residential units comprising 194 independent living units, 21 assisted living units and 28 […]
Last year was a busy one for senior housing loans through Fannie Mae’s Delegated Underwriting and Servicing (DUS) program. Seniors housing loan volume totaled $5.5 billion in 2017, which is an increase of 267% from 2016’s total of $1.5 billion, according to Fannie Mae. The top three DUS producers for seniors housing in 2017 were KeyBank […]
Front Porch Elects 3 New Members to Board of Directors Front Porch, a Glendale, California-based not-for-profit senior services provider with 10 full-service retirement communities, elected three new members to its board of directors. Joining the board on Jan. 1 are Deborah A. Proctor, Oliver W. Wesson Jr. and Marion McGovern. Proctor recently retired as the […]
Lancaster Pollard Helps Two California-Based Senior Living Providers Refinance Communities Lancaster Pollard recently helped two California-based clients refinance their senior housing properties using the Fannie Mae Seniors Housing program. First, Lancaster Pollard assisted Sterling Senior Communities in completing a $19 million refinance of Tanner Springs, a 115-bed assisted living and memory care community in Oregon. […]
