New finance deals for senior facilities
Berkadia Commercial Mortgage LLC has originated $172.1 million in financing for four Brookdale Senior Living communities.
The facilities are in Missouri, Illinois, New York and Ohio with a total of 716 independent units and 157 assisted living units. The individual loans were structured as seven- and 10-year adjustable rate mortgages.
Cambridge Realty Capital Companies closed on a $3.5 million FHA-approved HUD Lean loan to refinance Rosewood Nursing Center, a 120-bed skilled nursing facility in Louisiana. The 25-year term loan was arranged for the borrower with HUD Section 232 pursuant to Section 223 (f) funding.
Beech Street Capital LLC announced it closed $55.3 million in FHA 232/223(a)(7) loans to refinance a portfolio of eight skilled nursing facilities in Indiana.
The borrower was Infinity Healthcare Management, LLC, which requested to refinance all eight assets simultaneously. The portfolio consists of 808 total beds and the fixed-rate loans have either a 30-year or 25-year term.
Care Investment Trust LLC announced the closing of the real estate and operations of two senior housing facilities located in Baldwinsville and Geneva, New York, for $21.9 million. Care is a seniors housing real estate investment and finance subsidiary of Tiptree Financial Inc. and Premier Senior Living. The properties contain 131 licensed beds.