Senior living communities are bustling with change, as many of them appoint new directors and executive leadership to manage staff, residents and resources. Looking for a new job, or even a new career? Check out senior housing employment opportunities nationwide on SHN’s job board, with La Costa Glen Carlsbad in California, Holy Redeemer Health […]
HJ Sims
HJ Sims recently facilitated $213.8 million financing for a start-up continuing care retirement community (CCRC) in Florida. Sinai Residences of Boca Raton in Boca Raton, Fla. has an overall budget of $250 million, and is expected to open in 2015. The community is sponsored by Federation CCRC Operations Corp., a nonprofit corporation organized to develop, […]
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 […]
A relative newcomer to the senior housing space is making headway with nearly 10 projects in its mega church-model pipeline thanks to assembling a team of senior housing industry mainstays. Omega Communities, LLC was founded by Pat Trammell, Jr., the chairman and CEO, around three years ago. The concept for each senior living community project includes […]
Cambridge Arranges $9.6M Loan for Mich. ALF Cambridge Realty Capital Companies reports arranging a $9,631,00 loan to refinance the Crystal Creek Assisted Living community located in Canton, Mich. The fully-amortized 35-year loan was arranged for the owner using the HUD Section 232/Section 223(f) funding program and was underwritten by Cambridge Realty Capital Ltd. of Illinois, […]
Frustrations with variable-rate demand structures have birthed a new, preferred fixed-rate borrowing structure for many continuing care retirement communities (CCRCs), however, this short-term financing vehicle has its risks, reports a Financial Times article. Rather than competing over liquidity with banks that provider letters of credit (LOCs) that back variable-rate demand notes (VRDNs), investors in occupancy-dependent deals […]
Condominium units at Fox Hill, a luxury, Sunrise-managed senior living community in Bethesda, Md., are back on the market after a year-long marketing hiatus as multiple involved parties attempt to bring the community from the brink of foreclosure to stabilized occupancy. With the real estate market headed toward recovery, success in relaunching struggling luxury retirement communities […]
Berkadia Originates $14.4 Million Acquisition Loan for Chevalier Berkadia Commercial Mortgage LLC recently originated a $14.4 million, three-year floating rate acquisition loan to finance Chevalier International Holdings Limited’s acquisition of an 18-property portfolio of assisted living communities operated by Meridian Senior Living. Christopher Fenton, vice president at Berkadia, arranged the loan through the firm’s proprietary […]
Sunrise Stockholders Approve Acquisition by Health Care REIT, Completed Jan. 9 Sunrise stockholders voted at a special meeting on Monday to approve the company’s previously-announced merger with Health Care REIT, Inc. (NYSE:HCN). A majority (98.3%) of the votes case by Sunrise stockholders were in favor of this proposal, representing 69.4% of the shares of common […]
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 […]
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