Ziegler, M&T Realty Partner on Active Adult ReFi
Ziegler and M&T Realty Capital Corporation announed their role as financial advisors in a $19.5 million Fannie Mae refinancing for Essex Communities.
The deal, a 10-year fixed rate loan, will be used by Essex Communities to refinance existing debt on its active adult community named Carmel Oaks in Lakewood, Colorado.
KeyBank Secures $53M for Refinancing
KeyBank Real Estate Capital announced 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 Fannie Mae financing and Peter Trazzera originated the original bridge loan for the community back in 2019.
BMO Healthcare Real Estate Plays Role in $88M LCS, Senior Care Development Project
BMO Healthcare announed it acted as an administrated agent on an $88 million two-bank facility for LCS and Senior Care Development to recapitalize a senior living community.
The community — named The Clare — is an entrance-fee model continuing care retirement community located in Chicago. It consists of 248 IL units, 26 AL units, 14 memory care beds and 50 skilled nursing beds.
Lument Closes $21M Senior Housing Loan
Lument announed it closed a $21.6 million Fannie Mae loan to refinance the best senior living community in a small Kansas town.
The community — called Eaglecrest Retirement Community — is a 102-unit independent living and assisted living community managed by Midwest Health Inc that has been named the top senior living community in Salina, Kansas for 16 consecutive years.
Midwest Health manages a portfolio of about 80 senior living communities across the midwestern U.S.
Bill Wilson, Doug Harper and Casey Moore handled the transaction for Lument.
White Oak Healthcare Secures Acquisition Loan
White Oak Healthcare announced it secured a $20 million acquisition loan for the landlord of assisted living communities with 275 beds or more.
The Florida-based communities will be operated by a related-party entity that is owned by the landlord on a triple-net lease.
SLIB Facilitates Value-Add in Texas
Senior Living Investment Brokerage announed it played a key role in the sale of a “value-add” assisted living community in Texas.
The 86-unit community, located in Dallas, was sold by a large investment company looking to expect the niche to a private equity firm that specialized in senior housing and medical office properties. The buyer’s aim, according to SLIB’s Matthew Alley, is to invest in capital improvements and focus on census growth.
In addition to Alley, SLIB’s Jason Punzel worked on the deal.
SLIB Facilitates Kentucky Sale
SLIB announed its role in the sale of a senior living community 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 at 80% occupancy at the time that the seller, a regional owner/operator sold to a Midwestern-based owner/operator.
SLIB’s Ryan Saul and Daniel Geraghty handled the transaction.
National Church Residences Buys Eden Heights
National Church Residences announced it has agreed to purchase Eden Heights, a HUD affordable senior living community in Texas.
Eden Heights is located on the EdenHill Campus in New Braunfels, Texas and includes 94 units for adults aged 62 years or older. Despite being located on the same campus, Eden Heights will remain a separate entity from EdenHill.
NCR plans to make significant enhancements to the community.