Property Types Seniors Housing
$296M Bond Issue Moves Construction of Suburban NYC Senior Community Forward
Feb 5, 2008
By: Barbra Murray, Contributing Editor

The development of the Amsterdam at Harborside gets a shot in the arm from Herbert J. Sims & Co., which recently underwrote a bond issue valued at approximately $296.4 million for Amsterdam Nursing Home Corp. Inc.'s seniors housing project in North Hempstead, N.Y.  

Sited on a nine acre parcel, the Amsterdam will encompass all sectors of seniors housing, featuring 226 apartments for independent living residents, 32 assisted living units, 18 special needs assisted living units, and 56 skilled nursing beds. The all-encompassing property will be final piece that completes a planned unit development that will also feature an 18-hole championship golf course, a nine-hole executive golf course, as well as park land.  

Sims & Co.'s financing for the Amsterdam came in the form of $95.1 million of tax-exempt variable rate bonds; $24.9 million of tax variable rate bonds; and $176.4 million of non-rated tax-exempt bonds, representing the largest underwriting of tax-exempt, non-rated, bonds for a Critical Care Retirement Community.  

Amsterdam Nursing's search for financing was complicated by the presently thorny lending market; however, the company found a partner in Sims & Co., which had provided other financing for the Amsterdam beginning four years ago. All told, the financier had already orchestrated just over $41 million for land acquisition and pre-construction activities.  


 
Recent Seniors Housing Headlines
Hospitality Design Group Enters Luxury Senior Living Market with 410-Unit Resort-Style Project
Aug. 06, 2008
Los Angeles-based Cheryl Rowley Design, a 20-year-old hospitality design group, is venturing into the luxury senior living market, with Maravilla, a 410-unit resort-style senior living facility in Scottsdale, Ariz.
Emeritus Nets $163M in Loans for Seniors Housing Buy
Aug. 06, 2008
KeyBank Real Estate Capital has secured $163 million in loans to finance the purchase of 19 senior housing properties nationwide. The package will finance Emeritus Senior Living’s purchase of the 19 properties, which range in individual price from $2.9 million to $14.7 million. Upon the completion of the purchases, Emeritus will serve as proprietor of the sites, which are located natonwide.
Emeritus Nabs 5 Assisted Living Communities
Aug. 04, 2008
Seattle-based Emeritus Corp. has agreed to purchase five assisted living communities, all currently leased to the company, for $62.5 million, plus estimated closing costs of $2.8 million. Located in Ohio, Florida, California and Michigan, the five communities comprise 432 units.
Inland Takes $100M Interest in Wakefield 
July 10, 2008
Seeking capital to pursue healthcare real estate opportunities, NorthStar Realty Finance Corp. said today its healthcare real estate venture, Wakefield Capital L.L.C., sold $100 million in convertible preferred equity interest to Inland American Real Estate Trust Inc.
Fannie Mae Bolsters M-F Investment
July 09, 2008
Fannie Mae will expand liquidity, stability and affordability by increasing its participation in key segments of the multifamily market, the company said today. The firm invested $20 billion in multifamily housing in the first half of 2008.
 

 

Tenet Healthcare Takes 165,000 SF in Downtown Dallas
August 08, 2008
By: Dees Stribling, Contributing Correspondent --Tenet Healthcare Corp., an owner of hospitals and other medical facilities nationwide, is planning to move its headquarters to Downtown Dallas. The company, which only moved to the Dallas area from Southern California in 2004,...

JV Shells Out $40M for LA-Area Business Park
August 08, 2008
By: Thomas Peretti, Contributing Correspondent --The joint venture buyer has agreed to purchase College Business Park in Upland, Calif., just east of Los Angeles. The 314,000-square-foot business park sold for $39.9 million to Koll/PER, a limited liability company owned by...

RockBridge Takes $46M North Carolina Hotel Portfolio
August 08, 2008
By: Judy Feldman, Contributing Correspondent --RockBridge Partners, the equity platform of Columbus, Ohio-based RockBridge Capital, has announced the closure of a deal to acquire Gateway Center, a portfolio with four hotels, office and retail space and five acres of land...

Dublin Firm Enters Hotel Partnership with Oman Investment Fund
August 08, 2008
By: Tonie Auer, Southwest Correspondent --A little more than a year after purchasing Jurys Inns hotel chain, Dublin-based international private equity real estate group Quinlan Private has sold a 50 percent partnership interest in the hotel chain to Oman Investment...

Investcorp Forms $1B Entity to Acquire RE Debt
August 07, 2008
Investcorp Forms $1B Entity to Acquire RE Debt By: Dees Stribling, Contributing Correspondent --Though the acquisition of real estate debt isn't new, current market conditions seem to have given investors new impetus to acquire such debt. Recently, Investcorpýýýýýýýýýs U.S.-based real...

What to Do When Marketing Goes Wild
August 08, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Have your company's marketing initiatives wandered astray? Is the proverbial tail starting to wag the dog with respect to your current marketing campaigns? How do you know when marketing is out of control?...

Six Mistakes Real Leaders Avoid
August 01, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --I recently had a reader ask: "Is there a simple test that can be used to quickly determine an executive's leadership ability?" The short answer is yes. There are, in fact, a great...

Top Brokers Do Deals in Bad Markets, Too
July 18, 2008
By Mike Myatt, Chief Strategy Officer N2growth --Many in the industry long for the frothy markets of 2005 when sellers experienced record low cap rates, buyers were aided by loose credit and a strong flow of funds from the capital...

Know Thy Customer
July 11, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --How well do you really know your customer? Let me put this as simply as I can. If you want to succeed in business you must be in touch with the demands of...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...