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Dwight Capital Closes $117.5M in Healthcare Financings

NEW YORK CITY — Dwight Capital provided over $117.5 million in healthcare financing during fourth-quarter 2020. Featured among these transactions are loans for several properties within the Recover Care, The Laurels, and Landmark portfolios.

Dwight closed $15 million in bridge and mezzanine financing for the acquisition of the Recover Care Kansas Portfolio, a 253-bed, three-asset assisted living and skilled nursing facility portfolio located across Kansas. Adam Sasouness originated this transaction.

Sasouness also originated $13.95 million in bridge financing for the Laurels Portfolio, a 313-bed, three-asset assisted living and skilled nursing portfolio located across Northeast Ohio. The transaction, closed for repeat Dwight clients, facilitates the acquisition of The Laurels of Shane Hill, The Laurels of Toledo and The Laurels of Canton.

Dwight also closed $11.5 million in HUD loans for the Landmark portfolio, consisting of two skilled nursing facilities, The Pavilion Rehabilitation and Nursing Center and Saint Francis Rehabilitation & Nursing Center, with a total of 219 beds in Massachusetts. These loans were structured with a four-year prepayment penalty. Adam Offman originated these transactions.

Dwight also provided healthcare financing for these senior housing communities last quarter:

  • $13.1 million in HUD 232 loans for two skilled nursing facilities, Meeker Manor Rehabilitation Center and North Shore Estates, part of a portfolio of 145 beds located in Minnesota.
  • $11.5 million bridge loan for Heart of Georgia, a 100-bed skilled nursing facility located in Eastman, Georgia.
  • $7.5 million bridge acquisition loan for Pawtucket Falls Healthcare Center, a 154-bed skilled nursing facility located in Pawtucket, Rhode Island.
  • $6.4 million bridge loan for Green Prairie Rehabilitation and Assisted Living Center, an 86-bed property in Plainview, Minnesota.
  • $6.1 million HUD 232/223(f) loan for Sunset Healthcare Center, a 120-bed skilled nursing facility in Union, Missouri.
  • $6 million bridge loan for Hilltop Lodge, a 140-bed assisted living and skilled nursing property in Beloit, Kansas.
  • $4.8 million HUD 232/223(a)(7) loan for Graceland at Garden Ridge, a 50-bed assisted living and memory care facility in Garden Ridge, Texas.
  • $4.5 million bridge loan for Edenbrook of Green Bay, a 136-bed skilled nursing facility in Green Bay, Wisconsin.
  • $4 million bridge loan for Advent Health Care Center San Marcos, a 116-bed skilled nursing facility San Marcos, Texas.
  • $3.9 million bridge loan for Continental Manor Nursing and Rehabilitation Center and Mason Health Care Center, totaling 112 beds in Ohio.
  • $2.1 million bridge loan for St. Joseph Nursing Home, a 93-bed skilled nursing facility in Lacon, Illinois.

The post Dwight Capital Closes $117.5M in Healthcare Financings appeared first on Seniors Housing Business.

Source: Senior Housing Business

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