HJ Sims Provides Financing for Fla. Senior Rental Community HJ Sims, a privately held investment bank and brokerage firm, provided financing for a senior living residential rental community for seniors aged 55 and older located in Kissimmee, Fla. Tuscan Isle is immediately adjacent to Solivita, a residential 55+ community with more than 7,000 residents. Tuscan Isle […]
KeyBank
Prudential Mortgage Refinances $41M For Md. Senior Living Community Prudential Mortgage Capital Company provided a $41 million loan to Fountain Square Properties to refinance Kensington Park, a class A independent, assisted and memory care community located in Kensington, Md. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: […]
KeyBank National Association has been the No. 1 Fannie Mae lender in the senior housing sector for three consecutive years, according to rankings released Monday. Berkadia Commercial Mortgage, LLC claimed the second spot in the latest rankings, for 2014. Berkadia ranked No. 4 in 2013, which was the first year for which Fannie Mae named the […]
Chicago-based owner and operator Enlivant (formerly Assisted Living Concepts) this week closed a $334.4 million Fannie Mae credit facility from KeyBank Real Estate Capital for a national portfolio of senior living communities. The loan was secured by 54 assisted living properties across 12 states, including Iowa, Indiana, Kentucky, Michigan, Nebraska, New Jersey, Ohio, Pennsylvania, South […]
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 […]
Ever since the “Big 3” healthcare real estate investment trusts (REITs) began showing up to the biggest senior housing acquisition bashes of the last few quarters, agency finance has been forced to look for new parties to attend, many of which involve long-term financing. Despite improving liquidity for senior housing and ongoing talks regarding the […]
Fannie Mae and Freddie Mac are once again at the center of reform talks in the latest chapter of the two government-sponsored entities’ troubled saga, but despite all the scrutiny, lenders say both agencies’ role in the senior housing industry is growing. “Both agencies have a very strong appetite for seniors housing assets,” says Allison […]
An upscale continuing care retirement community (CCRC) in Ohio with an approximately 53% occupancy rate has filed for Chapter 11 bankruptcy protection, court documents show. South Franklin Circle is a not-for-profit community that opened in 2009 and has struggled to achieve high occupancy due to the economic downturn. The CCRC currently has about $110.2 million of […]
Capital One Closes $11.5 Million Loan for Tex. Senior Care Center Capital One Bank recently closed a $11.5 million, five-year senior secured term loan for Advanced Rehabilitation and Healthcare of Bowie, a newly constructed skilled nursing facility that opened in the spring of 2012 in Bowie, Tex. The loan was used to refinance the construction […]
Love Funding Secures $8.56 Million Construction Loan for Fla. ALF Love Funding recently closed an $8.56 million loan for the construction and permanent financing of Viera Manor Assisted Living Facility, a new senior living center in Viera, Fla., meant to provide housing for U.S. veterans. Laura Saull-Smith, a senior director at Love Funding out of […]
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