Chicago-based specialty investment bank Ziegler announced this month that it has completed $ 85,535,000 Series 2021 bonds for a nonprofit with over 30 faith-based human utilities across New England.
Part of the transaction included Fair Havens, which owns and operates the Quaboag Rehabilitation and Skilled Care Center, which has a total of 147 qualified care beds; Lutheran Home of Southbury, which includes 120 qualified care beds; and Lutheran Rehabilitation and Skilled Nursing Center, which has 107 skilled nursing beds.
Massachusetts-based Ascentria Care Alliance, Inc. has existed for nearly 150 years and provides services to a wide range of individuals including older adults, adults with disabilities and mental illnesses, children, vulnerable families, and others.
The bonds will be used to purchase real estate assets, fund various investments across campus, fund a debt service reserve fund, and pay the cost of the financing.
Greystone closes $ 15.8 million bridging loan
Greystone announced that it has provided a $ 15.8 million loan, backed by the Department of Housing and Urban Development (HUD), to fund a skilled nursing, memory and personal care campus in Erie, Penn.
Managing Director Fred Levine granted the loans for Greystone in New York City.
One of the properties, Saint Mary's East, was renamed Nightingale Nursing and Rehab Center and sold on a two-year short-term floating rate loan. The property is a complex of six buildings with 139 care beds.
"This is the first step in the bridge-to-HUD process and a continuation of our commitment to deliver liquidity to healthcare providers," Levine said in the press release.
Blueprint helps sell a nursing home in Texas
Blueprint Healthcare Real Estate Advisors recently announced its participation in the sale of a 70 bed transitional care facility in Texas.
The facility was reportedly developed but never operated by Mainstreet, and the vacant lot is in a medical park with several regional hospitals nearby.
It sold for $ 10 million, or about $ 145,000 per unit.
Blueprint conducted a highly competitive bid process and identified an experienced local real estate investor who will operate the facility as a specialist post-acute hospital.
The investor structured a lease with a national healthcare system based in Southern California.
KeyBank secures $ 10.2 million in funding for the Californian SNSF
KeyBank Real Estate Capital secured a $ 10.2 million fixed income loan to refinance debt of Livermore Healthcare in Livermore, California.
The SNSF, built in 1966, underwent minor renovations in 2019, including laying new vinyl floors in several common rooms and corridors. It consists of 30 units and 83 beds.
KeyBank used a fixed rate loan through the Federal Housing Authority's mortgage insurance program to pay off an interim loan for the healthcare real estate investment firm Eagle Arc Partners.
The loan is structured with a fully amortizing term of 35 years.
John Randolph of KeyBank's Commercial Mortgage Group and Grant Saunders of KeyBank's Healthcare Group structured the financing.
source https://seapointrealtors.com/2021/07/27/ziegler-closes-85-5m-deal-greystone-gets-bridge-loan-for-snf/
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