Economic Downturn Pushes Half-Occupied Upscale Ohio CCRC Into Bankruptcy

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 […]

Senior Housing & Care Finance Activity: KeyBank, Capital One, Grandbridge

Grandbridge Real Estate Capital Facilitates $7 Million Financing for ALF Renovation Grandbridge Real Estate Capital recently facilitated the financing for an affiliate of The Carlyle Group’s joint venture with Atlanta-based Formation Development Group to acquire and renovate The Renaissance on Peachtree, an assisted and independent living community located in the Buckhead neighborhood of Atlanta, Ga. […]

Recent Senior Housing & Care Finance Transactions: Lancaster Pollard, KeyBank, Beech Street (3/8/2012)

Cushman & Wakefield Sonnenblick Goldman Arranges $47.3 Million Financing for Georgia CCRC Cushman & Wakefield Sonnenblick Goldman recently arranged a $47.3 million mortgage financing to refinance the existing indebtedness of Park Springs, a stabilized 474-unit continuing care retirement community located in Stone Mountain, Ga. “This financing demonstrates how a successful CCRC can still attract very […]