Seniors Housing Business

AUG-SEP 2018

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

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Finance 8 Seniors Housing Business n August-September 2018 PARTNERING ACROSS THE CONTINUUM OF CARE With more than 46 years of lending experience, Hunt Real Estate Capital is the steadfast financial partner borrowers trust for speed and certainty of execution. Our national network of dedicated Seniors Housing and Healthcare originators, credit and underwriting professionals take the guesswork out of financing – leaving you free to focus on the bigger picture. ACTIVE ADULT INDEPENDENT LIVING ASSISTED LIVING MEMORY CARE SKILLED NURSING FANNIE MAE | FHA | BALANCE SHEET FINANCING FOR MORE INFORMATION: KATHRYN BURTON GRAY | 949.252.5633 Capital One provides $47.2 million HUD refinancing for three skilled nursing facilities in Massachusetts Chelsea, Fall River and Brockton, Mass. — Capital One has provided $47.2 million to refinance a portfolio of skilled nursing facilities in Massachusetts. The three facilities include a combined 512 beds and were pur- chased as part of a four-facility portfolio in 2016. The properties are Eastpointe Rehabilitation and Skilled Care Cen- ter in Chelsea with 195 beds, Southpointe Rehabilitation and Skilled Care Center in Fall River with 152 beds, and Baypointe Rehabilitation and Skilled Care Center in Brockton with 169 beds. Although the bor- rower was not disclosed, the properties are all listed on the website of The Pointe Group. Joshua Rosen of Capital One originated the transaction. The three HUD loans feature fixed rates and 35-year terms. Baypointe Rehabilitation and Skilled Care Center features 169 beds of skilled nursing and is located in Brockton, Massachusetts. Lancaster Pollard arranges $400 million refinancing for Plum Healthcare portfolio in California San Marcos, Calif. — Lancaster Pollard has arranged $400 million in financing for Plum Healthcare Group, a San Marcos-based skilled nursing operator. The bridge-to-HUD loan refi- nances Plum's previous corporate term loan credit facility on a port- folio of 27 skilled nursing facilities throughout California. "Redesigning our capital struc- ture for the emerging market is a key tenet of our strategic plan, which is focused on further en- hancing our industry-leading clinical and patient outcomes, and aligning our business to capitalize on developing long-term growth opportunities in the healthcare space," says Naveed Hakim, chief financial officer of Plum Healthcare Group. The Lancaster Pollard team of Grant Goodman, Jason Dopou- los, Joe Munhall and Elliot Kaple served as the syndication agent on the transaction. Credit Suisse served as the lender. "Completing this refinancing with Lancaster Pollard and Credit Suisse accomplishes a key step toward creating a unique, sustain- able capital structure that will give us the flexibility and enhanced capital output to execute on our vi- sion," adds Hakim. BMO Harris, Wells Fargo arrange $200 million loan for tower redevelopment in Brooklyn New York City — BMO Harris Healthcare Real Estate Finance and Wells Fargo Bank National Associ- ation have arranged a $200 million loan to support the redevelopment of the former Leverich Towers Ho- tel in Brooklyn into a seniors hous- ing community. The companies acted as lead ar- rangers as bookrunners on the transaction, which refinances the acquisition and redevelopment loans. BMO acted as administrative agent and Wells Fargo partnered with Capital One to form the syn- dicate for the facility. The project will convert the building into a 314,000-square- foot, 273-unit independent living, assisted living and memory care community. The borrowers are Kayne An- derson and Watermark Retirement Communities. Capital One arranges $242.7 million financing for 18-property recapitalization Seattle — Capital One has acted as lead arranger, bookrunner and administrative agent on a $242.7 million senior secured term loan for a joint venture managed by Seattle- based alternative investment firm Columbia Pacific Advisors. The proceeds of the loan were used to facilitate the recapitaliza- tion and acquisition of a portion of the joint venture's assets, including 18 seniors housing facilities in 11 states. The names and locations of the properties were not disclosed. The 2,310-bed portfolio consists of 196 independent living, 1,257 as- sisted living, 378 memory care and 479 skilled nursing beds. Harborview provides $196 million HUD refinancing for 13-property portfolio on West Coast Lawrence, N.Y. — Harborview Capital Partners, a Lawrence-based commercial real estate finance, eq- uity and advisory firm, has provid- ed $196 million in HUD financing for a regional operator on the West Coast. The loan will refinance debt on a portfolio of 13 skilled nursing and assisted living facilities total- ing approximately 1,700 beds. The

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