Bankrupt Preferred Care Offloads Two SNFs; $5.3M Expansion in Nebraska
Preferred Care Selling Two Santa Fe Nursing Homes
Genesis HealthCare (NYSE: GEN), based in Kennett Square, Pa., is acquiring the Casa Real nursing home; the major nationwide provider operates about 22 nursing homes, rehab centers, and other facilities in the state, the New Mexican reported.
Preferred Care is seeking approval from the bankruptcy court to sell the Santa Fe Care Center to Diamond Care Santa Fe, which could not be reached for comment by the New Mexican.
Good Samaritan — St. John’s Embarks on $5.3M Expansion and Renovation Project
The Evangelical Lutheran Good Samaritan Society’s St. John’s in Kearney, Neb., has begun a $5.3 million expansion and renovation project, the Kearney Hub reported. The project includes 16 new private suites with bathrooms and showers, specifically for seniors in need of short-term rehab.
The 16-room expansion project is expected to be finished in early 2019, while all renovations will be finished by fall of that year. St. John’s will be able to serve 56 residents with the project.
Blueprint Turns Two in Arkansas for Rookie SNF Investor
Blueprint Healthcare Real Estate Advisors helped a publicly traded real estate investment trust (REIT) offload a pair of non-core skilled nursing facilities in Arkansas, the Chicago-based brokerage and advisory firm announced Wednesday.
A Louisiana-based health care real estate investor picked up the two properties, which have a total of 234 licensed beds; the deal represented the buyer’s entrance into the skilled nursing investment market.
The properties are located on either side of Arkansas, about 250 miles away from each other, and will remain under the control of the existing operator.
“Blueprint positioned the offering as a value-add opportunity to more competitively position the assets in their respective local markets through capital investment to drive census growth,” the brokerage noted in a statement announcing the deal.
Blueprint’s Ben Firestone, Michael Segal, and Brooks Blackmon served as the lead advisors on the transaction.