Locust Point Capital is preparing for a post-pandemic lending landscape. The Red Bank, New Jersey-based senior living investor and lender announced the closing of its second senior housing debt fund on Monday with $428 million. The fund exceeded its target and includes commitments from pension funds, endowments, foundations, insurance companies and wealth advisors. Nearly 75% […]
Locust Point Capital
There are growing signs of stability in senior housing capital markets, which should bode well for construction projects slowed by Covid-19 over the past 12 months. More banks are returning to the space and underwriting financing for construction and development, but they are demanding some form of recourse from borrowers in return, according to panelists […]
Real estate investment and development firm MedCore Partners has acquired a seven-property senior living portfolio operated by Senior Services of America (SSA), and has ambitions to do similar value-add, middle-market deals going forward. The 582-unit portfolio consists of five properties in Washington state and two in California, offering a mix of independent living, assisted living […]
Cindat, Omega partner on $232M UK portfolio deal Chinese investment firm Cindat Capital Management entered into a joint venture with health care real estate investment trust, Omega Healthcare Investors (NYSE: OHI), on a 49% stake in a 67-property senior housing portfolio in the United Kingdom from Irvine, California-based health care REIT, Healthpeak Properties (NYSE: PEAK). […]
PGIM Real Estate is raising funds for its latest senior housing at a rapid pace. The Parsippany, New Jersey-based real estate investment firm is more than halfway toward its $750 million fundraising target, with significant contributions from pension funds paving the way. The Pennsylvania State Employees Retirement System (SERS) approved a $100 million commitment to […]
With active adult gaining popularity among investors as a property type, no slowdown in M&A activity and a more educated investor pool, senior housing capital markets maintained a robust performance in 2018. These factors are pushing asset valuations higher and spurring more lending. But industry experts at last week’s National Investment Center for Seniors Housing […]
Senior housing is one of the most intriguing asset classes for investors, especially with the coming demographic wave. In order to renovate, expand and develop senior housing, there needs to be access to a variety of capital sources. Mezzanine debt can provide a flexible solution for owners and operators to grow their senior housing business. […]
Ziegler Arranges $200.6 Million Bond Financing Ziegler announced the closing of the Trousdale Foundation Properties $200,570,000 Series 2018 bonds. Ziegler served as the underwriter and placement agent for the bonds which were issued in various series including tax-exempt senior, taxable senior and tax-exempt subordinate bonds. Proceeds from the bonds were used to finance the acquisition and […]
Ziegler Is Anchor Investor In Locust Point Private Credit Fund Ziegler announced it was an anchor investor in Locust Point Capital’s debut private fund, which closed earlier this month oversubscribed at $312 million. Ziegler and Locust Point have a relationship dating back to the mid-1990s, Managing Director and co-head of Ziegler’s Proprietary Senior Living Practice Don […]
Capitalizing on growing investor interest in senior living facilities, Locust Point Capital announced it closed its debut fund with $312 million. The fund, Locust Point Private Credit Fund, set a target of $250 million. The fund had raised nearly $96 million as of February, according to SEC filings that month. The New Jersey-based firm will use […]