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Volume 3 - Number 21 | November 13, 2006
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TOP STORY: New Rating Tool Could Open CDFIs to Greater Investment
By Erika Morphy
Philadelphia-Executives in the community development financial institution (CDFIs) community are optimistic a rating tool the Opportunity Finance Network has been honing for three years could open the doors to new investment. The locally based OFN is a $4 billion national network of 167 financial institutions that helps to finance community development opportunities.
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Seniors Housing on Investors’ Radar Screens
By Alex Finkelstein
Investment in housing for older adults is growing up. Lenders nationwide are underwriting more acquisition loans, with loan volume expected to be even higher in 2007. In addition, new development trends are surfacing. "Senior housing is more accepted in today's institutional investment environment than in previous years," says Allen McMurtry, president of locally based CLW Health Care Services Group.
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Lenders Line Up for Nursing Home Deals
By Alex Finkelstein
Cambridge Realty Capital Cos. chairman Jeffrey A. Davis says the nursing homes industry is on a growth curve and capital market investors are eager to participate in a mix of new financing deals. But there are significant differences in the criteria lenders use today compared with the lending guidelines in 1995 when the assisted living facilities industry was a new concept.
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Insider: GE Real Estate's Gregory Bates
By Erika Morphy
Stamford, CT-based GE Real Estate has created a direct investments business unit to focus on sourcing and managing real estate for its own account. Gregory Bates, managing director of the unit, says the unit's mandate will be targeting medium and large portfolios of industry, multifamily and office assets from $250 million on up. D&E Journal asked Bates about the new unit and the company's plans.
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