Healthcare Real Estate

The $71.28 million permanent FHA financing enables the borrower to exit an initial bridge loan used for the purchase in November 2017 and to continue with large scale renovations.

The 45,735-square-foot medical office building at Mountainside Medical Center is anchored by Hackensack Meridian Health.

"We took a more calculated, strategic approach with investors and did not go far and wide due to some sensitivities with the seller."

Financing for the Sailboat Bend II includes $25 million in low-income tax credit equity through Bank of America.

New York City-based Fundamental Advisors has reportedly sold its 75% stake in the 53-story property at 55 E. Pearson St. to LCS of Des Moines, IA and Senior Care Development of Harrison, NY.

The rebranding to Diversified Healthcare Trust marks a milestone in the company's transformation, which includes the anticipated conversion of SNH's existing triple-net leases with Five Star Senior Living Inc. into management agreements that was expected to occur on Jan. 1.