Bidding War for County Nursing Home; $11.3M Construction Loan in Vegas

Iowa Nursing Home Draws Three Prospective Buyers

The 168-bed Country View nursing and mental health care center in Waterloo, Iowa, has drawn the interest of three companies, which have initially offered to buy it for $5.4 million to $5.6 million, The Courier reported. The nursing home is owned and operated by Black Hawk County.

Preliminary proposals came from Pritok Capital of Skokie, Ill., at $5.6 million; Beacon Health Management of Tampa, Fla., at $5.5 million; and GS Holdings, based in the Chicago area, at $5.4 million. A potential fourth offer was not among the preliminary bids. The request for proposals mandated that bidders maintain Country View as a skilled nursing facility for a minimum of 10 years and give preference to Black Hawk County residents, according to the report.

The Calabasas, Calif.-based commercial real estate brokerage Marcus & Millichap will perform due diligence on the bids.

NorthMarq Capital Negotiates $11.3M Construction Loan for Las Vegas SNF

Jordan Johnson and Jerry Peterson of NorthMarq Capital facilitated an $11.3 million construction loan for the 72-bed Centennial Hills Skilled Nursing Facility in Las Vegas. The loan was structured with a 12-month interest-only term loan, followed by a 25-year amortization schedule.

“NorthMarq was able to provide a 75% LTC construction financing for 72-bed Skilled Nursing Facility,” Johnson said in a release announcing the transaction. “The quote will roll into a mini-perm upon completion of construction.”

Blueprint Announces Sale of Louisville SNF 

Blueprint Healthcare Real Estate Advisors announced the sale of the 92-bed Christian Health Center West SNF in Louisville, Ky. The SNF had strong occupancy levels and with renovations completed between 2011 and 2014.

Ben Firestone and Michael Segal handled the transaction for Blueprint.

Written by Maggie Flynn

Maggie Flynn on Linkedin
Maggie Flynn
Business reporter at Aging Media Network
When she's not working, Maggie enjoys running, reading, writing and sports, in no particular order. Favorite things include murder mysteries, Lake Michigan and the Pittsburgh Penguins.

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