HJ Sims Arranges $93 Million Bond for New Hampshire Assisted Living Community Fairfield, Connecticut-based HJ Sims, a privately held investment bank and wealth management firm, has arranged a $93 million bond for The Prospect-Woodward Home, an assisted living community, which will be based in Keene, New Hampshire. New Hampshire Health and Education Facilities Authority was […]
Lancaster Pollard
Fortis Management Group Files for Receivership Fortis Management Group filed for receivership in an agreement with its landlords, the company revealed on July 12. The Milwaukee-based management company operates 60 skilled nursing facilities and five independent and assisted living communities throughout Michigan, Minnesota, Wisconsin, Oregon, Washington and Idaho. Read the full story on Skilled Nursing […]
Across the U.S., some developers are finding it a little more difficult to get money to build new senior housing projects. And it’s not just the developers saying that. Some of those big national capital providers also agree that construction loans for senior housing are generally harder to come by these days. Issues like construction […]
Senior living projects in city centers are not for the faint of heart. Between high land and construction costs, site scarcity, lengthy entitlement processes and sticker shock for lenders, taking on this type of development is no easy endeavor—and that’s not to mention design constraints. But given the unique strategies the majority of senior living […]
The senior housing industry as a whole is seeing growth as the baby boomer generation moves into retirement. Still, senior housing isn’t expected to see as much of an uptick as other housing categories this year. When it comes to growth in the next year, housing industry owners, developers and managers predict the largest surge will occur in […]
Lancaster Pollard Arranges $5.3 Million Financing for BPM Senior Living Lancaster Pollard recently arranged a $5.3 million Fannie Mae loan for Portland, Oregon-based senior living owner/operator BPM Senior Living. The loan provides capital for Royalton Place, a 70-unit, 79-bed assisted living and memory care community in Milwaukie, Oregon. The financing is related to BPM’s plan […]
KeyBank Closes Acquisition Loan for Three Senior Housing Communities in Pennsylvania KeyBank Real Estate Capital’s healthcare platform recently closed an acquisition loan for Baltimore-based Capital Health Group to purchase three senior housing communities located in Southeast Pennsylvania. Together, the communities have more than 500 units. Shortly after purchasing the portfolio, Capital Health Group refinanced Key’s acquisition/bridge […]
Thorofare Capital Provides $19 Million Loan for Senior Living Community in Phoenix Los Angeles-based investment manager Thorofare Capital recently provided a $19 million, fixed-rate bridge loan to refinance debt on MorningStar at Arcadia, a 135-bed senior living community in Phoenix. MorningStar Senior Living operates the four-story, 139,643-square-foot community, which has 80 assisted living units and 30 memory […]
Although there is chatter in the industry that construction is slowing down, many senior housing executives say they actually are planning to start building projects this year. A full 75% of execs said they either are extremely likely or somewhat likely to pursue a construction project this year, when surveyed by investment banking and advisory services firm Lancaster […]
AEW Raises $500 Million for U.S. Senior Housing Fund Boston-based AEW Capital Management recently raised about $500 million for its third U.S. senior housing fund, IPE Real Estate reported. AEW aimed for a total equity raise of $500 million, IPE noted, citing a consultant of a pension fund intending to commit to the fund. The total […]
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