Monticello Provides $8M to NY SNF
An affiliate of Monticello Asset Management provided $8 million in financing to Leroy Operating, which will buy a 140-bed skilled nursing facility in New York. The facility has a five-star rating from the Centers for Medicare and Medicaid Services (CMS), and includes a 40-bed non-secure memory unit and a 28-bed short-term or subacute therapy unit.
HJ Sims Arranges $19M Refinancing, $5M Line of Credit for Arizona CCRC
Fairfield, Conn.-based HJ Sims set up a $19 million refunding loan and $5 million non-revolving line of credit for Westminster Village in Scottsdale, Ariz. The community includes 49 skilled nursing beds, 250 independent living apartments, and 23 assisted living units.
The loan was provided by Western Alliance Bank at a 3.42% fixed interest rate over a 10-year term. The deal reduces the borrower’s debt service payment by more than $1 million annually, according to REBusinessOnline.com.
HFF Brokers Sale of 140-Bed SNF in Austin
HFF brokered the sale of the 140-bed Park Manor at Bee Cave in a western suburb of Austin, Texas, REBUsinessOnline.com reported. Ryan Maconachy and Chad Lavender of HFF represented Dallas-based Meridian Realty Advisors, the seller, in the deal.
Blueprint Brokers Sale of Low-Occupancy WI Property
Blueprint Healthcare Real Estate Advisors announced the sale of Fountain View Care Center and Wolverton Glen Assisted Living, a senior health care campus in Ripon, Wis. The skilled nursing bed occupancy was about 30%.
Blueprint said it was engaged by a publicly traded real estate investment trust (REIT) seeking to wind down an operator relationship.
Accordius Health Buys 120-bed SNF in North Carolina
Blueprint also announced the sale of Regency Care of Clemmons in North Carolina. The 120-bed SNF featured a newly remodeled 26-bed memory care wing. Accordius Health was the purchaser, and Blueprint represented a public REIT seeking to divest in the transaction.
Written by Maggie Flynn