Senior Housing
First Affordable Housing Loan Closed Under New Freddie Mac Program
Freddie Mac’s new Direct Purchase of Tax-Exempt Loans initiative, the goal of which is to keep rental housing affordable for lower-income families and lower costs involved with financing for tax exempt multifamily properties, has closed its first loan.
WNC Provides Financing for Seniors Apartments in Long Beach, CA
Ramona Park Senior Apartments, an affordable senior housing community in Long Beach, Calif., has been completed.
TODAY’S DEALS: Kennedy Wilson Acquires 118 Units South of Seattle
Kennedy Wilson completes a $20.8 million acquisition in Turnwater, Wash.; Hunt Mortgage Group refinances an affordable seniors asset in Pennsylvania; and NorthMarq Capital arranges a seven-year, $22.8 million acquisition loan.
Operating Expenses Both Up, Down for Federally Subsidized Housing, Says IREM Study
According to a recent study published by IREM, operating expenses in 2013 compared with 2012 for various kinds of federally subsidized housing decreased in the case of some kinds of properties, but increased for others.
Maplewood Senior Living to Develop 27 Acres into Senior Housing
Maplewood Senior Living has announced its intent to develop 27 acres in Southport, Conn., into a three-story, 98-unit traditional assisted living and memory care community.
Health Care REIT Buys UK Seniors Portfolio for $257M
Health Care REIT has acquired a portfolio of 11 seniors housing properties in the UK for £153 million (about $257 million) in cash from Gracewell Healthcare.
Ryan Companies Breaks Ground on $31.7M Seniors Living Community
The Great Lakes Region of Ryan Companies US Inc. broke ground on its newest age-restricted senior living community in Mokena, Ill.
Economy Watch: Mortgage Delinquencies Continue Dropping
The delinquency rate for mortgage loans on one-to-four-unit U.S. residential properties decreased to 6.04 percent of all loans outstanding at the end of the second quarter of 2014, according to the Mortgage Bankers Association.
TODAY’S DEALS: Parse Capital Provides $7.3M Mezz. Piece for Luxury Houston Apartments
Parse Capital partners with JPI Companies on a $37 million Houston development; Capital One closes an $8.8 million refinance for a New Hampshire assisted living community; and ARA’s Colorado office handles the $899,000 sale of a 14-Unit townhome community in Colorado Springs, Colo.
Greystone Launches Seniors Housing Investment Sales and Advisory Group
Greystone, a national provider of multifamily and healthcare mortgage loans, announced it has launched a seniors housing real estate sales and investment advisory group through the acquisition of the ARA National Seniors Housing Group from ARA National Seniors Housing Group Ltd.