Phoenix Skilled Nursing Facility Goes to Ensign Affiliate
Blueprint Healthcare Real Estate Advisors announced the sale of the 128-bed Plaza Del Rio in the Phoenix suburb of Peoria to an affiliate of The Ensign Group (Nasdaq: ENSG). The seller was a Florida-based senior living developer and philanthropist who held the facility in a charitable remainder trust.
The skilled nursing portion of the facility was 80% occupied; the long-term acute care facility portion was leased to a third-party operator facing operational challenges at the time of the sale.
Capital One Provides $13.2M HUD Loan to Refinance Michigan SNF
Capital One provided a $13.2 million fixed-rate Department of Housing and Urban Development (HUD) 232/223(f) loan to refinance an 88-bed SNF in Howell, Mich.
The transaction allowed the borrowers to replace bank debt with low-rate, long-term financing and recoup partner debt and capital expenditures.
The SNF has a 98.9% occupancy rate, the highest level in the primary market area, and a five-star rating from the Centers for Medicare & Medicaid Services (CMS).
Two Kentucky SNFs Sell for $7.5M
Blueprint also announced the sale of two Kentucky SNFs, Barkley Center and Countryside Center, for $7.5 million — or approximately $51,000 per bed — to ClearView Healthcare Management. Capital improvements included a $1.7 million renovation at Barkley; combined occupancy was 80%, with total revenue at approximately $10 million.
Written by Maggie Flynn