$76.6M Portfolio Sale in Florida; Genesis Partners with Sava

Cushman & Wakefield facilitated the sale of a 10-property senior housing portfolio, consisting of assisted living and skilled nursing properties, for $76.6 million, REBusinessOnline reported.

The portfolio includes 1,289 beds and was sold by ADME Investment Partners; Robert Kaplan and Mark Rutherford of Cushman & Wakefield represented ADME.

The buyers were not disclosed. The skilled nursing and assisted living property Fair Havens Center, which has 557 units and 329 beds, fetched the highest price of the group at $26.4 million.

Advertisement

Dwight Capital Closes $6.8M SNF Financing in Ohio

Dwight Capital provided a $6.8 million bridge acquisition loan for the 120-bed Canal Pointe Nursing and Rehab in Akron, Ohio.

The facility offers services that include occupational therapy, respiratory care, tracheostomy care, and behavioral treatment.

LTC ACO Partners with SavaSeniorCare

LTC ACO, the accountable care organization affiliated with the Kennett Square, Pa.-based SNF operator Genesis HealthCare (NYSE: GEN), this week announced that it has partnered with various operating entities linked to SavaSeniorCare Administrative Services, LLC.

Under the partnership, select physicians that provide care to long-term residents in Sava facilities can participate in the Medicare Shared Savings Program (MSSP) through the LTC ACO.

Sava will use LTC ACO’s structure to help in improving patient outcomes and reducing rehospitalizations, according to a press release announcing the deal; the ACO structure will allow it to share in the improvements from a quality and cost perspective.

“With LTC ACO’s help, we will attempt to utilize their best practices and expertise to improve overall outcomes and quality while managing episodic and chronic cost,” Jerry Roles, CEO of Sava, said in a statement.

Capital Funding Announces $10.8M Financing for Pennsylvania Acquisition

Capital Funding LLC announced the closing of a $10.8 million bridge-to-HUD loan for the acquisition of the 139-bed SNF Harrison House of Christiana.

Capital Funding Group ultimately expects to refinance the debt on the Pennsylvania property via the Department of Housing and Urban Development’s (HUD) 223(f) program.

Capital Finance also provided a $3.5 million line of credit concurrent with the real estate closing.

Craig Casagrande, Capital Funding’s director of real estate finance, and associate Andrew Jones originated the transaction.

Companies featured in this article:

, , , , , ,