Seniors Housing Business

FEB-MAR 2017

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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Finance 8 www.seniorshousingbusiness.com Seniors Housing Business n February/March 2017 Your full-service seniors housing partner By partnering with us, you'll leverage unrivaled expertise in investment sales, financing and loan servicing, to meet all of your property's capital needs. Our specialized team has deep roots in seniors housing and healthcare, and maintains close relationships with Fannie Mae, Freddie Mac and HUD/GNMA. We use our expertise and extensive relationships to help you navigate regulations and achieve your investment goals so that your assets can continue to care for senior residents. Madison House Kirkland, WA Bridge loan 142 units $23,500,000 Residence at Timber Pines Spring Hill, FL FHA 232/223(f) 205 units $27,600,000 (pictured) www.us.jll.com/seniorshousing Union Hospital Terre Haute, IN HUD Section 242 259 units $266,600,000 Brightwater Senior Living Highland, CA Fannie Mae refinance 99 units $15,000,000 © 2017 Jones Lang LaSalle IP, Inc. All rights reser ved. HJ Sims refinances $160.3 million in bonds for Presbyterian Retirement Orlando, Fla. — HJ Sims, a Con- necticut-based investment bank, has refinanced $160.3 million in bonds for Presbyterian Retirement Communities, which operates the Orlando-based Westminster Com- munities of Florida portfolio of continuing care retirement com- munities and affordable seniors housing. The new bonds will fund up to $45 million in capital projects and save the borrower $34.8 million in payments. Capital Funding Group negotiates $62.9 million in bridge loans for two facilities in New York Westchester County and Nassau County, N.Y. — Capital Funding Group (CFG), a Baltimore-based lender, has arranged $62.9 million in bridge loans for two skilled nurs- ing facilities in New York State. In the first loan, CFG arranged a $32.5 million loan for a 240-bed fa- cility in Westchester County. In the second loan, CFG arranged a $30.4 million bridge-to-HUD loan for a 200-bed facility in Nassau County. Both areas are suburbs of New York City. The names of the facili- ties were not released. The loans were used to refinance existing debt and recapitalize un- derleveraged assets. CFG will im- mediately submit HUD applica- tions to refinance the bridge loans at fixed, long-term rates. Craig Casagrande, CFG's direc- tor of real estate finance, originated both loans. SunTrust provides $68.3 million refinancing for GoodWorks Unlimited portfolio Nashville, Tenn. — SunTrust Bank has provided a $68.3 million loan to GoodWorks Unlimited LLC, a seniors housing provider with communities in Kentucky and Ten- nessee, for the refinancing of its portfolio. GoodWorks' properties feature independent living, assisted living and memory care components. The organization will use the loan pro- ceeds to refinance existing debt and expand its facilities. KeyBank provides $84.7 million refinancing for six-property portfolio Brownsville, Weslaco, Harlingen and Edinburgh, Texas — KeyBank Real Estate Capital has provided a total of $84.7 million in FHA financing to refinance a six-property, 722-bed skilled nursing portfo- lio in Texas. The skilled nursing facilities total 722 beds. The six properties include Brownsville Nursing and Rehabilitation, Brownsville; Ebony Lake Nursing and Rehabilitation, Brownsville; Weslaco Nursing and Rehabilitation, Weslaco; Harlingen Nursing and Rehabilitation, Harlingen; Edinburgh Nursing and Rehabilita- tion, Edinburgh; and Windsor Arbor View, Edinburgh. John Randolph of Key's Commercial Mortgage Group arranged the financing through the FHA 232/223(f) mortgage insurance program. The loan proceeds were used to refinance existing debt. Brownsville Nursing and Rehabilitation in Brownsville, Texas, was one of the facilities involved in the refinancing.

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