NEW
YORK, Feb. 5, 2024 /PRNewswire/
-- Northwind Group, a real estate private equity firm and debt
fund manager, announced today that Northwind Healthcare Debt Fund
II led the origination of two mezzanine loans totaling
$105 million secured by two
portfolios of 25 properties comprised of 2,920 skilled nursing beds
and 186 assisted living units located in Virginia and Missouri. Care Trust REIT, Inc (NYSE: CTRE)
participated with $44.8 million in
the mezzanine loans and Deutsche Bank led $310 million in senior financings for the
transactions together with CIBC.
The first loan is an $85 million
mezzanine loan secured by 15 properties totaling 1,675 skilled
nursing beds and 34 assisted living units across several densely
populated seniors' markets in Virginia.
The second loan is a $20 million
mezzanine loan secured by 10 properties totaling 1,245 skilled
nursing beds and 152 assisted living units across the metro areas
of Kansas City and St Louis, Missouri.
The mezzanine loans were funded from Northwind's closed-ended
healthcare debt funds. Northwind Group's healthcare portfolio
includes debt and equity investments in nearly 200 skilled nursing
facilities and senior living communities, totaling approximately
23,000 beds/units, across 20 states in the US.
"This investment represents our core focus of providing
structured financial solutions for leading skilled nursing owners
and operators in select U.S. states. It was great coordinating the
execution of this loan together with Care Trust REIT and we
look forward to collaborating with them on future
transactions," said Jonathan
Slusher, Partner, Head of Senior Living and Healthcare of
Northwind Group.
"We have grown to become one of the leading private lenders in
the senior living healthcare debt vertical and have built a deep
understanding of this asset class while cultivating strong
relationships with owners, operators and other lenders. We have
established our healthcare debt funds to provide flexible bridge to
HUD financing solutions to premier operators in geographical
locations we recognize have strong demographics and positive
regulatory environment and believe 2024 will be a record year for
our lending platform," said Ran Eliasaf, Founder and Managing
Partner of Northwind Group.
"It was great coordinating the execution of these two loans with
a co-lender as experienced and sophisticated as the Northwind
Group," said James Callister,
CareTrust's Chief Investment Officer.
About Northwind Group
Northwind Group, founded in 2008
by Ran Eliasaf, is a Manhattan
based real estate private equity firm with $3 billion in AUM that invests primarily in debt
instruments through its discretionary closed-ended debt funds. For
further information, go to www.northwind-group.com.
About CareTrust™
CareTrust REIT, Inc. is a
self-administered, publicly-traded real estate investment trust
engaged in the ownership, acquisition, development and leasing of
skilled nursing, seniors housing and other healthcare-related
properties. With a nationwide portfolio of long-term net-leased
properties, and a growing portfolio of quality operators leasing
them, CareTrust REIT is pursuing both external and organic growth
opportunities across the United
States. More information about CareTrust REIT is available
at www.caretrustreit.com.
Media Contact: Northwind@5wpr.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/northwind-group-and-care-trust-reit-provide-105-million-in-mezzanine-loans-secured-by-25-skilled-nursing-and-assisted-living-properties-in-virginia-and-missouri-302053523.html
SOURCE Northwind Group