Ensign Nabs Phoenix SNF; Capital One Handles $13.2M HUD Refinancing

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

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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