SNF for Parolees Proposed in MO; 11-Building Lease Inked
SNF for Parolees Proposed in Fulton, Missouri
The Georgia-based company CorrectLife, which provides assisted living to parolees or people eligible for parole with no alternate living arrangements, visited Fulton, Mo., to explore the potential construction of 150-bed skilled nursing facility, the Fulton Sun reported on Thursday.
Carlo Musso, who founded CorrectLife, is interested in opening the facility to provide services to parolees in the area, Bruce Hackmann, economic development director at the Callaway Chamber of Commerce, told the publication. Richard W. Hill, an attorney in St. Louis, told the Sun a certificate of need is being prepared; the application will be submitted by June 29. Comments can be submitted after this date, however.
The facility, which would be 65,000 square feet, would offer 24-hour skilled nursing care. The estimated cost of construction is $19.9 million, according to Hill.
Blueprint Announces Lease Arrangement for 11-Property SNF Portfolio
Blueprint Healthcare Real Estate Advisors announced a lease arrangement for an 11-property SNF portfolio in Missouri, with several locations in the St. Louis and Kansas City metropolitan areas. The 1,256-bed offering was presented to the market for sale or lease; Blueprint found an operator new to the state and used a deal structure involving a short-term lease and a put option.
Ben Firestone and Michael Segal facilitated the transaction for Blueprint.
Lancaster Pollard Assists With SNF Construction Loan
Lancaster Pollard helped a private developer/investor get a loan from Sunwest Bank in Irvine, Calif., for the construction of a 99-bed SNF in Moreno Valley, Calif. Ross Holland and Joe Munhall led the transaction for Lancaster Pollard.
Written by Maggie Flynn