In the current credit environment, financing through the U.S. Department of Housing and Urban Development (HUD) has become a favorite of borrowers. With its low, long-term fixed rates, flexibility, nonrecourse feature and other benefits, HUD is often the best available option for a borrower seeking to refinance or finance new construction or rehabilitation of a […]
Lancaster Pollard
Lancaster Pollard Has Record Month in April, Closes $166.2 Million in Transactions Lancaster Pollard closed 25 transactions in April totaling $166.2 million, marking the firm’s most prolific month to date since going into business in 1988. Out of the 25 deals, 23 were for senior housing and care providers; the other two were in the […]
Berkadia Originates $62 Million in Senior Housing Financing in Three Transactions Berkadia Commercial Mortgage recently originated a total of $61.7 million in financings for seniors housing properties located in California, Oregon, Texas, and Virginia. Berkadia Arranges $17.5 Million of Refinancing for Two Emeritus-Operated Communities For two communities operated by the Emeritus Corp., Berkadia arranged a […]
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 […]
Lancaster Pollard Structures Financings for Four Ohio Senior Living Communities Lancaster Pollard recently facilitated $36 million of financing for four Ohio nonprofit senior living communities, led by senior vice president Kass Matt out of the firm’s Columbus, Ohio office. “We were successful in providing historically low interest rates while utilizing flexible and efficient financing vehicles […]
Here’s a roundup of some of the most recent financing transactions in senior housing and care. Berkadia Originates $13 Million in Refinancing for San Antonio Nursing Facility Berkadia Commercial Mortgage LLC announced on Jan. 3 that it had originated $12,958,000 in permanent refinancing through its Department of Housing and Urban Development/Federal Housing Administration program for […]
The Department of Housing and Urban Development is making a strong play to clear its wait list for HUD Lean 232 financing approval and underwriting, a task which has long plagued the senior housing industry in light of a months-long backlog of applications. Finally, it’s starting to look a lot better for those waiting in […]
Lancaster Pollard recently completed $21 million of Federal Housing Administration Section 232/223(f) financing for two nursing facilities, both located in Texas. For the first, the firm assisted Prestonwood Rehabilitation & Nursing Center, a 132-bed facility, to refinance $9,710,700 of debt. The FHA refinancing will benefit Prestonwood through significant annual debt service savings and a 35-year […]
The seniors housing and care industry was in recovery mode in 2011 as the construction pipeline leveled off and occupancy rates rose, and while this creates development opportunity going forward, industry analysts don’t expect to see substantial amounts of new construction in 2012. The sector saw slight improvement in some fundamentals such as occupancy, revenue, […]
When looking back on 2011, senior housing industry professionals agree that the billions of dollars worth of real estate investment trust (REIT) activity played an integral role in shaping today’s market. But some say that going forward into 2012, healthcare reform will be a key influence in the industry, and others point out the changing […]