Lancaster Pollard Closes $107.4 Million of Loans in November Lancaster Pollard closed 16 senior living transactions for a total loan amount of $107.4 million. The 16 facilities, all located in the Midwest, contained a total of 1,239 skilled nursing beds and 416 assisted living units. All the financings used the FHA Sec. 232/223(f) to refinance […]
Lancaster Pollard
Changes have been afoot with the Department of Housing and Urban Development’s loan program for housing for low-income seniors that have made it more attractive for nonprofit property owners to prepay and refinance their existing loans during the current low interest rate environment, writes Lancaster Pollard. Modifications in Housing Notice 2012-08 apply to owners of […]
The Federal Housing Administration might be needing a financial lifeline from the Treasury, according to Bloomberg, but lenders in the senior housing and care space aren’t expecting another hike in loan insurance premiums for FHA-insured programs. Continued losses stemming from the housing market collapse are hitting the FHA hard. Ahead of a financial analysis expected […]
Reimbursement for assisted-living providers historically has been private pay. While that continues to be the case, over the last decade there has been an expansion in the number of states that contribute Medicaid dollars for some services. On a macro level, expanding Medicaid reimbursement for AL will result in higher demand across the board. Residents […]
The Department of Housing and Urban Development (HUD) processed nearly $5.5 billion of senior housing loans in 2012 through its Section 232 LEAN program, with volume skyrocketing more than 66% above last year’s $3.3 billion record. HUD’s LEAN program became the largest single source of debt capital to the senior housing industry with 706 loans […]
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 […]
Kindred Healthcare Expands Credit Capacity by $200 Million Kindred Healthcare Inc. (NYSE:KND) announced the successful completion of amendments to increase its senior secured term loan facility by $100 million, and expand the borrowing capacity under its senior secured asset-based revolving credit agreement by the same amount. Net proceeds of the additional term loan borrowings, issued at […]
Ziegler Closes $12 Million Financing for Ind. CCRC Ziegler recently announced the closing of a $12,175,000 non-rated, fixed-rate Series 2012 Bond issue for Westminster Village Terre Haute, a not-for-profit, single-site continuing care retirement community (CCRC) located in Terre Haute, Ind. The CCRC has 309 units comprised of 173 independent living apartments, 20 independent living cottages, […]
Benchmark Senior Living Gets $50 Million Investment for Recapitalization, Development Wellesley, Mass.-based Benchmark Senior Living has secured a $50 million investment from Och-Ziff Capital Management, according to CoStar.com, for the purpose of recapitalizing existing senior living assets and financing the development of new senior living communities in the New England and Mid-Atlantic regions. Cushman & […]
Ziegler Closes $8 Million Bond Issue for Nonprofit Senior Care Community Expansion Specialty investment bank Ziegler recently closed an $8,035,000 non-rated, fixed-rate issue for Nazareth Living Center, a not-for-profit corporation based in Missouri. The Nazareth community includes a 150-unit assisted living apartment building and a 140-bed skilled nursing center in St. Louis, Mo. It is […]
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