Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.
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10 www.seniorshousingbusiness.com Seniors Housing Business n February-March 2015 dend to the owners of the facility. The foating-rate debt has a term of 60 months and is intended to serve as a bridge to the future sale of the facility or agency fnancing. The facility is owned by CHG and managed by a related party, Compass Pointe Healthcare Systems. CHG is a privately held real estate company that was formed in 2006 to acquire and develop seniors housing communities. Compass Pointe is an affli- ated management company that provides management services for all of the properties in CHG's portfolio. Capital One Bank closes $52 million refnancing of Connecticut CCRC North Branford, Conn. — Capital One served as lead and administrative agent for a $52 million senior secured term loan to refnance Evergreen Woods, a continuing care retirement com- munity in North Branford. The facility is jointly owned by The Shelter Group, a privately held real estate development and property management company specializing in multifamily and senior living communities, and affliates of Herbert J. Sims & Co., an investment bank focused primarily on the seniors housing industry. First Niagara partici- pated in the loan. Located approximately nine miles from New Haven, Ever- green Woods consists of 227 independent living units, 22 assisted living units, and 50 skilled nursing beds. This facility is an entrance-fee-based com- munity that offers residents a full continuum of care. Evergreen Woods is managed by Brightview Senior Living, an affliate of The Shelter Group with 30 seniors housing facilities throughout the Northeast and Mid-Atlantic. CNL Healthcare Properties adds $405 million credit facility Orlando, Fla. — CNL Health- care Properties, a real estate investment trust (REIT) focused on seniors housing and health- care properties, has entered into a $405 million unsecured credit facility and term loan, which can be expanded to $700 million. The new credit facility, led by KeyBank National Associa- tion, has nine other participating lenders, including JPMorgan Chase Bank, SunTrust Bank, Bank of America, Compass Bank, Fifth Third Bank, Cadence Bank, Comerica Bank, The Hunting- ton National Bank, and Seaside National Bank & Trust. "These new credit facilities represent a signifcant milestone in the growth and maturation of CNL Healthcare Properties' busi- ness and signifes a great level of confdence in our company and strategy," says Stephen H. Mauldin, president and CEO of CNL Healthcare Properties. "Our previous secured corpo- rate line of credit helped us sub- stantially and rapidly grow our seniors housing and healthcare holdings, and these new facilities will further assist us in taking advantage of investment oppor- tunities as we continue to build and diversify the REIT." CNL Healthcare Properties owns 55 senior housing com- munities and 45 healthcare properties. Walker & Dunlop closes $20 million refnancing for assisted living facility New Lenox, Ill. — Walker & Dunlop Inc. (NYSE: WD) has closed a $20 million loan for the refnancing of Cottages of New Lenox, an 80-unit, 100-bed assisted living and memory care facility located in New Lenox. The refnance loan was struc- tured with three years interest-only using Walker & Dunlop's interim loan program. The borrower is an affliate of a joint venture between Chicago-based Focus Healthcare Partners LLC and Artemis Real Estate Partners LLC. John Pantone, senior vice president, led the Walker & Dunlop team that structured the refnance loan. Located 42 miles southwest of Chicago, Cottages of New Lenox offers fve stand-alone, 20-resident cottages, including one building that provides dedi- cated assisted living. Finance Continues from page 8 Stock Snapshot REITs Stock Current 1 month 12 months symbol price change 1 change 1 3/15/15 2/3/15 3/3/14 Aviv REIT AVIV $36.14 -7.57% 49.34% Chartwell Seniors Housing REIT 2 CSH.UN $12.46 -1.42% 27.27% HCP HCP $42.22 -8.67% 14.85% Health Care REIT HCN $77.57 -4.15% 38.05% LTC Properties LTC $44.17 -4.91% 20.88% National Health Investors NHI $71.35 -4.25% 20.58% Omega Healthcare Investors OHI $40.26 -7.75% 31.96% Sabra Healthcare REIT SBRA $32.58 0.43% 23.22% Senior Housing Properties Trust SNH $22.39 -3.91% 5.96% Ventas VTR $73.95 -7.25% 23.50% Publicly traded Stock Current 1 month 12 months owners and managers symbol price change change 3/3/15 2/3/15 3/3/14 Blackstone Group 3 BX $37.85 2.10% 23.21% Brookdale Senior Living BKD $37.95 9.02% 12.51% Capital Senior Living Corp. CSU $25.34 6.43% -0.51% Five Star Quality Care FVE $3.73 1.36% -35.13% 1 Adjusted for stock splits 2 Chartwell Seniors Housing REIT is traded on the Toronto Stock Exchange; prices shown are converted to U.S. dollars. 3 Blackstone Group is recognized as one of the 10 largest owners of seniors housing properties.