Ziegler, M&T Realty Partner on Active Adult ReFi
Ziegler and M&T Realty Capital Corporation have announced their role as financial advisors in a $19.5 million refinancing by Fannie Mae for Essex Communities.
The agreement, a 10-year fixed rate loan, will be used by Essex Communities to refinance the existing debt of its active adult community named Carmel Oaks in Lakewood, Colorado.
KeyBank secures $53 million for refinancing
KeyBank Real Estate Capital has announced that it has secured a $53.1 million permanent loan from Fannie Main for real estate developer Singh Development, known for the Waltonwood Lake Boone retirement community in Raleigh, North Carolina.
Built in 2018, Waltonwood Lake Boone is a senior living community with 181 IL, AL and memory care units
KeyBank’s Charlie Shoop arranged the funding for Fannie Mae and Peter Trazzera created the initial bridge loan for the community in 2019.
BMO Healthcare Real Estate plays part in $88 million LCS, senior care development project
BMO Health announced that it acted as administrative agent on an $88 million two-bank facility for LCS and Senior Care Development to recapitalize a seniors’ community.
The community – named The Clare – is a model entrance fee continuing care retirement community located in Chicago. It consists of 248 IL units, 26 AL units, 14 memory care beds and 50 specialty care beds.
Lument closes $21 million senior housing loan
Lument announced that it has secured a $21.6 million Fannie Mae loan to refinance the best senior living community in a small town in Kansas.
The community – called Eaglecrest Retirement Community – is a 102-unit independent and assisted living community operated by Midwest Health Inc that has been named the best senior living community in Salina, Kansas for 16 consecutive years.
Midwest Health operates a portfolio of approximately 80 senior living communities in the US Midwest
Bill Wilson, Doug Harper and Casey Moore handled the transaction for Lument.
White Oak Healthcare Obtains Acquisition Loan
White Oak Healthcare announced it secured a $20 million acquisition loan for the owner of assisted living communities with 275 or more beds.
The Florida-based communities will be operated by a related entity owned by the landlord under a triple net lease.
SLIB facilitates value creation in Texas
Senior Living Investment Brokerage has announced that it played a key role in the sale of a “value-added” assisted living community in Texas.
The 86-unit community, located in Dallas, was sold by a large investment firm looking to gain that niche to a private equity firm specializing in senior housing and medical office buildings. The buyer’s goal, according to SLIB’s Matthew Alley, is to invest in capital improvements and focus on census growth.
In addition to Alley, Jason Punzel of SLIB worked on the case.
SLIB facilitates the sale of Kentucky
SLIB has announced its role in the sale of a retirement home in Kentucky.
The community – named Forest Hills Commons – is located in Lousiville, Kentucky and consists of 119 units for AL (99) and memory care (20). Forest Hills Commons was 80% occupied at the time the seller, a regional owner/operator, sold to a Midwestern owner/operator.
SLIB’s Ryan Saul and Daniel Geraghty handled the transaction.
National Church Residences Purchase Eden Heights
National Church Residences announced that it has agreed to purchase Eden Heights, an affordable seniors’ residence from HUD in Texas.
Eden Heights is located on the EdenHill campus in New Braunfels, Texas and includes 94 units for adults ages 62 or older. Although located on the same campus, Eden Heights will remain a separate entity from EdenHill.
NCR plans to make significant improvements to the community.