Gardner Group, Solamere Capital and Wasatch Group received $160 million in Commercial Property Assessed Clean Energy financing for Summit Vista, a life plan retirement community in Taylorsville, Utah.
According to the group, the ownership will use the proceeds for ongoing construction at the property, prioritizing energy-efficient features such as energy efficiency, renewable energy and water efficiency.
Summit Vista comprises nearly 1,600 independent living, assisted living, skilled nursing and memory care units. As Utah’s first life plan retirement community, it incorporates one- and two-bedroom floorplans ranging between 822 and 1,588 square feet. Common-area amenities include a swimming pool, a hot tub, a fitness center, an art studio, a library, a salon, a convenience store and outdoor garden areas.
The senior housing community is approximately 13 miles south of downtown Salt Lake City.
Capital Funding Group closes $32.9M in financing for acquisition of NY nursing facility
Baltimore-based Capital Funding Group announced the closing of $32.9 million in Bridge-to-HUD financing for the acquisition of a 200-bed skilled nursing facility in New York.
The transaction, originated by CFG Vice President Andrew Jones, closed on May 5 on behalf of a nationally recognized borrower.
The financing follows the company’s recent announcement of the closing of $84.7 million in Bridge-to-HUD financing for the acquisition of eight long-term care facilities located in Alabama.
Capital Funding Group Announces the Closing of $10.3 Million in Financing
Capital Funding Group announced the closing of $10.3 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan.
The refinancing supported a 112-bed skilled nursing facility in Arizona. The deal was closed on May 4 on behalf of a nationally recognized borrower.
“We’re excited to share the closing of this deal for our client, as it showcases our bridge-to-HUD lending approach and our strong relationship with HUD,” said Craig Casagrande, CFG’s managing director for long-term care, in a press release. “When we execute bridge loans for clients, we work with them to mitigate HUD take-out risk by ensuring everything is vetted to HUD specifications. This approach streamlines the HUD application process, so we can execute seamlessly when our clients are ready for that step. We look forward to continuing this year’s strong momentum to support our clients’ growth.”
The financing follows the company’s recent announcement of the closing of $32.9 million in Bridge-to-HUD financing for the acquisition of a skilled nursing facility located in New York.
Companies featured in this article:
CFG, Gardner Group, Solamere Capital, Summit Vista, Wasatch Group
