Tom Barrack’s Colony Capital snags $1.7B refi on healthcare properties

Los Angeles /
Jun.June 14, 2019 09:00 AM
Colony Capital's Thomas Barrack
Colony Capital’s Thomas Barrack

It has been a busy first half of the year for Tom Barrack’s Colony Capital, which just has secured a $1.7 billion refinancing on more than 150 healthcare properties across the country. Healthcare real estate investment trust Ventas provided nearly $500 million as part of the financing package.

The Downtown Los Angeles-based investment firm consolidated with a five-year, $1.5 billion interest-only loan secured by its 158 healthcare properties. Those properties include senior living facilities, medical office buildings and hospitals, Colony announced in a release.

The new loan has three one-year extension options; interest rate is one-month LIBOR plus 3.33 percent.

Barrack returned to his position as CEO of the $44 billion firm late last year, after two years of falling stock prices related to its merger with NorthStar.

Colony has been busy since then. In February, the firm sold a 2.3-million-square-foot industrial portfolio to Nuveen Real Estate for $136 million.

And a after that, Colony announced it was buying a $1.2 billion industrial portfolio from an unnamed seller.

Chicago-based Ventas provided $490 million in junior tranche debt toward Colony’s refinancing. Ventas posted a strong first quarter in 2019, thanks to diversifying investments in medical and research facilities.


Related Articles

arrow_forward_ios
LoanCore Capital CEO Mark Finerman and 4707 Venice Boulevard (Google Maps)
Ralphs-anchored Mid-City mall nabs $64M refi
Ralphs-anchored Mid-City mall nabs $64M refi
Combined Properties Chairman Ronald Haft, AECOM Capital CEO Warren Wachsberger and Pendry West Hollywood
AECOM JV lands $500M loan on boutique hotel-condo
AECOM JV lands $500M loan on boutique hotel-condo
Renderings of the Little Tokyo Service Center (KoningEizenberg) 
$275M approved for LA affordable housing projects
$275M approved for LA affordable housing projects
Josh Zegen and rendering of 21555 Oxnard Street (iStock, Google Maps)
Madison Realty Capital provides $34M loan-on-loan for Warner Center redevelopment
Madison Realty Capital provides $34M loan-on-loan for Warner Center redevelopment
From left: Robert Zangrillo, Geoff Palmer, Tom Barrack and President Donald Trump (Getty, iStock)
Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon
Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon
Michael Jackson’s “Neverland Ranch” has found a buyer: Billionaire investor Ron Burkle (Getty, Redfin)
Ron Burkle buys Michael Jackson’s “Neverland Ranch” for $22M
Ron Burkle buys Michael Jackson’s “Neverland Ranch” for $22M
Brookfield CEO Brian Kingston and 725 South Figueroa Street (Google Maps)
Brookfield lands $305M refi for Ernst & Young Plaza in DTLA
Brookfield lands $305M refi for Ernst & Young Plaza in DTLA
Colony’s Tom Barrack,, One California Plaza, and Rising CEO Christopher Rising (Credit: TM/Bauer-Griffin/GC Images via Getty Images, Tiffany Rose/Getty Images)
Here’s what tenants pay at Colony Capital & Rising Realty’s One California Plaza
Here’s what tenants pay at Colony Capital & Rising Realty’s One California Plaza
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...