New federal guidelines around mortgage insurance applications could help more senior living providers access financing. The new U.S. Department of Housing and Urban Development (HUD) rules change a corporate credit review period of 18 months and increase the threshold for when a corporate credit review is required as it pertains to seeking HUD financing. According […]
Greystone
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Commercial real estate finance firm Greystone has launched a new preferred equity platform and joint-venture advisory and production group to help senior housing and other real estate project planners cross the finish line. The newly launched platform, called Greystone Equity, “utilizes the firm’s balance sheet” and “existing market relations” to provide equity and preferred equity […]
Financings Greystone provides $16.8 million for green financing program Commercial real estate financial company Greystone has provided $16.8 million via a HUD LEAN 232/233(f) green loan to refinance a supportive living facility in Illinois. The facility, Plum Creek at Rolling Meadows, is a 102-unit facility on 1.46 acres and was constructed in 1986. The owner […]
Transactions Health Dimensions Group Begins Management of Communities Health Dimensions Group (HDG) announced it provided management services in addition to day-to-day operational oversight to two senior living communities in the northern Midwest. The communities – Stoney River of Marshfield, Wisconsin and Stoney River of Ramsey, Minnesota – are assisted living and memory care communities. Both […]
In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards, an annual competition that recognizes cutting-edge design, excellence, and innovation in senior living. Construction: Planned Luxury senior living project announced in New Jersey Pre-construction development work is underway at Arbor Terrace Montgomery, a luxury senior living community in Somerset […]
Financings JLL Arranges JV Equity for Virginia Project JLL Capital Markets announced that it arranged a joint venture for a senior living development project in Virginia. JLL worked on behalf of Centric Development LLC which is planning to build a 153,000 square-foot senior living community in Fredericksburg, Virginia that will include 106 assisted living units […]
Acquisitions National Church Residences Buys Near Atlanta National Church Residences announced it finalized the purchase of a senior living community located on a larger campus called Christian City in Union City, Georgia. The community — called Garden Terrace — adds 20 affordable senior living units to the National Church Residences portfolio and brings its total […]
Strong short-term headwinds resulted in a decline in loan volumes for the U.S. Department of Housing and Urban Development’s (HUD) Lean financing program for senior housing in 2022, but some of the key players in the space say opportunity lies ahead for next year. For 2022, overall Lean program volume dropped to $2.89 billion across […]
The senior living industry has faced challenges from multiple sides this year, from cost inflation to rising interest rates. As a result, some investors are becoming more choosy about the communities they back as deals are becoming more complicated. Cap rates for newer, higher-quality and lower-acuity communities such as active adult or independent living have […]
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