Property Types Seniors Housing
Colorado Seniors Housing Project Scores $41M Financing
June 10, 2009
The Denver regional office of NorthMarq Capital arranged a $41 million construction/permanent loan for The Carillon at Boulder Creek, a 117-unit senor living community located at 2525 Taft Drive in Boulder, Colo.
Cambridge to Buy Up Seniors Housing, Healthcare Debt
May 06, 2009
Cambridge Investment and Finance Co. plans to begin acquiring outstanding senior housing/healthcare loans from lenders and financial institutions that are seeking to create liquidity by removing that debt from their balance sheets.
Relative Stability of Seniors Sector Helps Borrower Bring in $90M in Loans
April 28, 2009
As is the case with the multi-family industry, seniors housing is faring better than such real estate sectors as office and retail, and can still rely on the government for financing assistance in the midst of the credit crunch. In both cases, it is market fundamentals that are buoying the sectors. A case in point is Cambridge Realty Capital Cos.' recent closing of $90.6 million of HUD-insured Section 232 loans on behalf of an Illinois-based borrower for the refinancing of a group of 10 skilled nursing facilities, referred to as the Granite Portfolio.
Health Care REIT Closes $133M Freddie Mac Loan
April 08, 2009
Health Care REIT Inc. closed a $133 million first mortgage loan secured by 12 senior housing properties. The 10-year debt has a fixed interest rate of 6.10 percent. KeyBank Capital Markets Inc. originated the loan and intends to sell it to Freddie Mac.
Economic Update -- Seniors Housing Specialist on Tenterhooks
March 04, 2009
The prospect of un-refinanceable debt has yet another commercial property company on thin ice, in this case McLean, Va.-based Sunrise Senior Living. The assisted- and independent-living specialist not only lost $305.6 million in the fourth quarter of 2008 (and $439.2 million for all of 2008), it's also facing an imminent--end of March--deadline on renegotiating about $95 million in debt and $24.4 million in outstanding letters of credit.
Seniors Housing Loans, Capitalization Rates Feel Credit Crunch
Feb. 02, 2009
As the economy continues its downward spiral and credit markets suffer, loan performance and capitalization rates in seniors housing and care feel the heat, too, according to third quarter 2008 data tracked by the National Investment Center for the Seniors Housing & Care Industry (NIC).
Clarett Group Buys FountainGlen
Jan. 13, 2009
The Clarett Group acquired FountainGlen Portfolio Management Inc., a developer and operator of age-restricted residential communities located in California cities such as Huntington Beach, Pasadena, Anaheim Hills and Valencia.
Emeritus Closes Refi Deal, Extends $73M Debt
Jan. 05, 2009
Assisted living and Alzheimer's care facilities provider Emeritus Corp. capped the end of the year by ensuring there would be no material maturities hanging over its head in 2009. The company wrapped up the $36.3 million refinancing of seven properties through Freddie Mac, a move that allowed it to pay down and extend an existing debt with Capmark.
Ventas Closes $126M in Refis on 8 Assisted Living Communities
Dec. 08, 2008
Ventas Inc. has closed eight first-mortgage loans totaling $126 million through Freddie Mac on eight senior housing communities in three states managed by Sunrise Senior Living Inc. Proceeds of the loan were used to repay in full $71 million of existing debt, secured by the same facilities that was due to mature in mid-2009.
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