Capital One closes $109M loan to Meridian Senior Living Capital One served as the administrative agent for a $108.9 million loan to a joint venture owned by Sino-Ocean Capital and Meridian Senior Living. The borrower will use a portion of the proceeds to acquire two senior housing communities in Florida, the 106-unit Symphony at the […]
SunTrust Banks
SunTrust provides $60M Loan for Baltimore CCRC Expansion SunTrust Banks Senior Vice President of Senior Care Finance Yasamin Al-Askari arranged a $60 million loan for the expansion of Roland Park Place, a nonprofit continuing care retirement community in Baltimore. Proceeds will fund the second phase of the project, an eight-story building with 58 units, a […]
CBRE arranges $65 million acquisition financing for Virginia CCRC CBRE National Senior Housing Vice Chairman Aron Will and First Vice President Austin Sacco arranged a $65.2 million acquisition financing package for The Virginian, a 306-unit rental continuing care retirement community (CCRC) in Fairfax, Virginia. Will and Sacco worked on behalf of Focus Healthcare Partners to […]
Northbridge Senior Housing acquires 8-property New England senior housing portfolio Northbridge Senior Housing, through its Northbridge Strategic Housing Fund II, received acquisition financing for an eight-property senior housing portfolio in New England, totaling 565 units. The properties in the portfolio are: – Avita of Brunswick in Brunswick, Maine– Avita of Stroudwater in Westbrook, Maine– Avita […]
Welltower acquires San Antonio senior living portfolio Toledo, Ohio-based health care real estate investment trust (REIT) Welltower (NYSE: WELL) acquired a two-building senior housing portfolio in San Antonio, Texas, totaling 335 units. The seller was Dallas-based senior housing developer, South Bay Partners. The two adjacent buildings, Watercrest at Dominion (230 units) and Isle at Watercrest […]
SunTrust provides $67 million construction loan for South Carolina community expansion Rolling Green Village, a non-profit continuing care retirement community (CCRC) in Greenville, South Carolina, secured a $67 million loan for an expansion project that broke ground last August. The loan was provided by SunTrust Banks. When completed in fall 2020, the expansion will include […]
Despite lingering oversupply concerns, plenty of senior housing operators are still seeking construction financing, especially in the Southeastern U.S., according to a leader from SunTrust Banks (NYSE: STI). After initially serving senior housing operators in the Southeast, the Aging Services practice at Atlanta-based SunTrust recently began offering financing options for providers nationwide. The bank is seeing […]
SunTrust Banks Closes on Acquisition of Pillar Financial’s Multifamily Business SunTrust Banks Inc. (NYSE: STI) recently closed on its previously announced acquisition of all of the assets of the operating subsidiaries of Pillar Financial LLC, which includes receiving Freddie Mac, Fannie Mae, and Federal Housing Administration Agency license transfer approvals. The acquired assets include Pillar’s multifamily […]
This week, our most read stories revolved around a record-high False Claims Act settlement for a Tennessee-based skilled nursing provider; newly launched digital shadow boxes for memory care communities; and a new entrant into the senior housing lending business. Here in the newsroom, we enjoyed listening to a 92-year-old comedian do a stand-up routine at […]
Capital Funding Group Closes $6.8 Million Bridge-to-HUD and $19.8 Million HUD 232 Loan Capital Funding Group closed a $19.79 million HUD 232 new construction loan for Transitional Care of Arlington Heights in Arlington Heights, Illinois, as well as a $6.8 million bridge-to-HUD loan for Village Square Skilled Nursing Facility in San Marcos, California. Village Square Skilled […]
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