$23.2M Loan for Florida Expansion; Ensign Acquires Idaho SNF

Greystone Provides $14.6M HUD-Insured Loan for Tarrytown Healthcare Facility

New York City-based Greystone provided a $14.59 million permanent loan insured by the Department of Housing and Urban Development to refinance Tarrytown Hall Care Center in Westchester County, New York. The Federal Housing Administration financing carries both a 35-year term and amortization period at a low, fixed rate.

The 120-bed skilled nursing facility provides several specialized services, including short-term rehabilitation, post-acute care and long-term care with offerings that include respiratory management, wound care and tracheostomy care.

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Fred Levine, managing director in Greystone’s Monsey, N.Y. office, originated the transaction.

Ensign Group Acquires Idaho SNF

The Ensign Group (NASDAQ:ENSG) acquired the real estate and operations of the 40-bed McCall Rehabilitation and Care Center in McCall, Idaho, effective July 1. The facility had an occupancy rate of approximately 70% at the time of the transaction.

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Ensign’s portfolio includes 185 skilled nursing operations, and the company said in its fourth-quarter earnings call that it plans to make acquisitions focused on underperforming properties owned by smaller operators.

Miami SNF Gets $23.2M Loan for Expansion

The 264-bed Victoria Nursing and Rehabilitation Center in Miami, Fla., obtained a $23.2 million loan from Ocean Bank to buy additional space and expand the facility by 48 beds, The Real Deal reported. The 183,247-square-foot nursing home used the loan to buy three stories of an eight-story office condominium building and a parking garage.

Thomas Ice from Middleton Reutlinger represented the nursing home; Elena Aidova from Holland & Knight LLP represented Ocean Bank.

Written by Maggie Flynn

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