Financings
Berkadia, Poppy Bank close over $247 million
Berkadia Seniors Housing and Healthcare recently completed over $247 million in bridge debt transactions in collaboration with Poppy Bank during May and June. This milestone included 11 properties comprising 1,314 units.
“We are grateful to have a strong partnership with Poppy Bank and are thrilled to finalize these deals despite the current market challenges,” stated Berkadia Managing Director Chris Cain.
Capital Funding Group closes on $42 million
Capital Funding Group successfully closed a $42 million HUD financing package on June 24 to support three skilled nursing facilities. These facilities, located in Idaho and Washington, will benefit from the refinancing of existing bridge loans through this funding.
Affiliations
Covenant adds two communities
Covenant Living Communities has expanded its reach by affiliating with Presbyterian Homes of Tennessee, incorporating two additional communities under its management. This agreement entails Covenant Living overseeing the governance, operation, and management of these communities, further solidifying its presence in 11 states.
Management
Solera Senior Living has been appointed as the operator of The Willows at Raleigh, an independent living community in Raleigh, North Carolina, starting June 25. With 143 independent living residences offering studio, one-bedroom, and two-bedroom options, the community was recently acquired by Focus Healthcare Properties.
