Blueprint Announces Five-SNF Portfolio Lease in North Carolina
Blueprint Healthcare Real Estate Advisors announced the portfolio lease of five North Carolina skilled nursing facilities with a total of 638 beds.
The owner was looking to diversify its risk through sale or a new lease to a third-party tenant. Blueprint identified an owner-operator that saw the portfolio as a chance to create economies of scale and capitalize on its existing portfolio in the state.
The lease was structured with an option to purchase that the tenant plans to exercise immediately, according to a release announcing the deal. Christopher Hyldahl and Gideon Orion handled the transaction for Blueprint.
Retirement Companies of America Breaks Ground on Non-Profit SNF
Retirement Companies of America broke ground on the Jordan River Health Center, part of the active adult community The Farms at Bailey Station in Collierville, Tenn., the Commercial Appeal reported.
The $26 million not-profit nursing and rehabilitation center will have 60 private nursing suites and a 4,000-square-foot rehabilitation and therapy center. Once open, it will provide short- and long-term physical, occupational, and speech therapy services.
The center is expected to generate annual revenue of $12 million, and employ 120 people, with combined annual salary and benefits of $4 million when fully operational, according to Retirement Companies of America.
Ziegler Closes $52 Million Lakeview Village, Inc. Financing
The Chicago-based specialty investment bank Ziegler announced the closing of a $52 million Series 2018 fixed-rate financing for Lakeview Village, Inc., a non-profit that operates a continuing care retirement community (CCRC) in Lenexa, Kan.
The community includes 172 skilled nursing beds, 342 independent living apartments, 207 independent living cottages and villas, and 26 assisted living units.
The proceeds of the financing, along with other funds, will be used to refund Lakeview Village’s Series 2007 bonds, fund debt service reserve funds, and pay for the costs of issuance. Lakeview will save $455,000 per year as a result of the refinancing, according to a press release announcing the deal.
Written by Maggie Flynn