Table of Contents
Ziegler announced it closed $27.5 million in Series 2022A and 2022B Bonds for the Lutheran Homes of South Carolina.
The Luther Homes of South Carolina currently operates five life plan communities, three hospice offices and four non-medical in-home services throughout South Carolina that includes a total of 1,077 units – 409 independent living, 308 assisted living and 360 skilled nursing.
The bonds were purchased by First Horizon Bank with a 12-year commitment. They will be used in part to fund 18 new independent living units at one site, 18 new independent living units at another and interest expense during construction.
“During these uncertain times, the aging demographics of the United States are not reversing. LHSC is a forward-thinking organization that is continually growing its campuses in manners that are financially accretive and responsive to demand in the market,” Tad Melton, managing director in Ziegler’s senior living finance practice, said in a news release.
CFG Gets $11.26M For California SNF
Capital Funding Group announced it closed $11.26 in Bridge-to-HUD financing for the acquisition of a 121-bed SNF located in Sacramento, Ca.
The acquisition will be used to help the buyer grow in the long-term care space.
CFG’s managing director of long-term care Tim Eberhardt and senior associate Ava Julio originated the transaction.
26 HUD Loans in First 6 Months of FY 22 For VIUM
VIUM Capital announced it closed 26 Department of Housing and Urban Development healthcare LEAN loans through the six months of the fiscal year 2022 totaling approximately $295 million in financing.
“We closed a flurry of 232/223f and 232/223a7 refinance loans to finish out a strong calendar year 2021 and surge into 2022,” Scott Blount, senior managing director in VIUM’s Austin office. “The financings consisted of portfolios and single site transactions in multiple states throughout the country.”
In its first two years since its founding, VIUM closed over $1.5 billion in seniors housing and healthcare financings.
X-Caliber Lands Financing for 150-Bed SNF
X-Caliber Capital, through its affiliate companies, X-Caliber Rural Capital and CastleGreen Finance, announced it provided a total of $32.2 million to finance the Milford Wellness Village, a multi-tenant medical space that supports Milford, Kent and Sussex counties.
The property includes a 150-bed skilled nursing facility.
X-Caliber provided $25 million through a USDA Business & Industry Guaranteed Loan and CastleGreen provided $7..2 million of C-PACE financing.
CastleGreen’s Scott Crimmins, senior vice president of finance, originated the transaction.
Editor’s Note: Capital Funding Group closed on $11.26 million in financing for the acquisition of a California SNF. The firm also recently closed on a $17.2M Bridge-to-HUD financing for the acquisition of two Arizona SNFs.