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Bucking Trend, Community Bank Finances Seniors Housing

Even as most conventional lenders avoid commercial real estate altogether, Sunwest Bank is carving a niche in seniors housing. The Tustin, Calif.-based bank began lending on retirement projects in 2009 after studying the market for several years. "There's a great opportunity now for community banks like Sunwest," says Benjamin Frank, vice president and relationship manager at Sunwest Bank. Community banks are thought to have stronger balance sheets than many large banks and could be a source of capital for seniors housing owners and operators who need to refinance their properties. Large lenders ...

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