As national and larger regional banks continue to conservatively underwrite acquisition and construction financing, senior housing developers are turning to a host of other options to put together their capital stacks.
Mezzanine lending and preferred equity are popular vehicles for borrowers looking for non-recourse lending. Debt funds are another option for borrowers seeking flexibility capital.
HUD and agency lenders, meanwhile, have become more aggressive lately and deploying capital on refinancings, and developers are taking advantage of this openness to restructure existing debt.
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