Blueprint Announces Sale of Nashville SNF
Blueprint Healthcare Real Estate Advisors, a Chicago-based advisory firm focused on health care real estate and senior housing, announced the sale of a 119-bed skilled nursing facility in Nashville, Tenn., for a purchase price of $16 million, or $134,454 per licensed bed.
The deal was conducted for a public real estate investment trust looking to divest. Blueprint’s Ben Firestone and Michael Segal handled the transaction.
Greystone Provides Loan for Western N.Y. Facility
Greystone, a New York City-based real estate lending, investment and advisory company, provided a $16.5 million U.S. Department of Housing and Urban Development (HUD)-insured, permanent loan to refinance the Chautauqua Nursing & Rehabilitation Center in Dunkirk, N.Y. The SNF provides a range of services that include physical, occupational, and speech therapy, along with memory care, palliative care and hospice services.
The financing is a permanent exit from a bridge loan that Greystone provided in 2015 for VestraCare’s acquisition of the 216-bed property. The new loan has a 33-year term and low, fixed-rate amortization.
Fred Levine, managing director at Greystone’s Monsey, N.Y. office, originated the transaction.
HFF Negotiates SNF Sale in Illinois
Holliday Fenoglio Fowler, L.P. (HFF) announced the sale of a 90-bed SNF in Greenville, Ill. HFF marketed Helia Healthcare of Greenville for Palladian Healthcare; CareTrust REIT (Nasdaq: CTRE) purchased the facility free and clear of debt. The price was not disclosed.
Helia Healthcare offers skilled nursing services, including care for neuromuscular disorders, cardiac issues, and advanced wounds.
Ziegler Closes $17.6M Valley Vista Care Corporation Financing
Ziegler, a privately held investment bank in Chicago, announced the successful closing of $17.63 million Series 2017 A&B financing for Valley Vista Care Corporation (VVCC) in Idaho.
Vista Community Housing Corporation (VCHC) and VVCC operate 147 skilled nursing and skilled behavioral care beds, 59 assisted living units, and 35 units for residents with mental illness and developmental disabilities.
The proceeds of the sale of the Series 2017A bonds, along with other available funds, will be used to support improvements to the Sandpoint and St. Maries campuses, among other projects. Proceeds from the Series 2017B bonds will go to refinancing the prior loan and paying expenses linked with the issuing of the bonds.
Holland Management Buys Ohio Nursing Home
Holland Management — a housing, health care and property management company based in Sharon Center, Ohio — purchased Laurie Ann Nursing Home in Newton Falls, Ohio, the Tribune Chronicle reported. The purchase price was not disclosed.
Holland plans to make several updates to the nursing home, including updating resident rooms and interior corridors.
Written by Maggie Flynn