$30M Rehab and Nursing Center Opens in Maryland; Cushman & Wakefield’s $37.1M Financing

Mercy Health Services in Maryland opened a $30 million rehabilitation and nursing care facility, operated by its long-term care arm Stella Maris, the Baltimore Business Journal reported on September 9.

The facility is part of a campus in Baltimore County that houses other Stella Maris services, such as an independent living complex and assisted living options.

The rehab facility includes a gym and 60 private patient rooms with ensuite bathrooms, as well as family gathering spaces and concierge service with restaurant-style dining, according to Baltimore Business Journal.

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It is one of two facilities in Maryland with patient access to Bioness Inc. equipment, designed specifically for stroke and neurological recovery via electrical stimulation, robotic systems, and software-based therapy programs, the publication noted.

Eduro Healthcare to Manage Forthcoming Southwest Montana Veterans Home

Eduro Healthcare entered a long-term contract to manage the Southwest Montana Veterans Home, scheduled to be completed in the fourth quarter of this year. The home will include a community center and 60 beds in five linked residential pods.

“As a disabled veteran, I am looking forward to serving my fellow veterans in this unique setting,” Craig Bewsey, director of purchasing at Eduro, said in the press release announcing the arrangement. “This community is a much-needed asset for Montana’s veteran population, and Eduro will be a great operator for this community for years to come.”

The Utah-based Eduro already operates a facility in Butte, Montana, in addition to two other facilities in Helena and Clancy, Montana, with a total of 19 buildings in nine states.

“We have been working with local leadership [to] ensure that we are ready to serve the veterans of Montana,” Eduro managing partner Brian Ramos said in the press release.

Operator Transitions Out of Four SNFs in Ohio

A skilled nursing operator based in Columbus transitioned out of four SNFs in Ohio — three in the Columbus and Cincinnati metropolitan statistical areas with a fourth in northwest Ohio — desiring to exit the business altogether.

The real estate investment trust (REIT) that owned the buildings used broker Blueprint Health Care Real Estate Advisors to find a replacement tenant.

The portfolio included 613 total licensed beds, with 502 of them dually certified; 111 were residential care beds. The buildings had seen a census and revenue decline due to the COVID-19 pandemic, which put downward pressure on the overall lease coverage.

The new lease arrangement, which Blueprint negotiated for the REIT, maintains and extends the contractual rent levels.

Cushman & Wakefield Advises on $37.1M Financing of Wellmore of Daniel Island

The senior housing capital markets team at Cushman & Wakefield exclusively advised an affiliate of Maxwell Group on a $37.1 million financing for Wellmore of Daniel Island.

The assisted living, memory care, and skilled nursing community, which has 186 units and 198 beds, is located in Charleston, S.C.

The financing was completed by Truist Financial. Vice chairman Richard Swartz, senior director Tim Hosmer, and associate Chris Remeika were involved in the transaction for Cushman & Wakefield.

“Wellmore Daniel Island represents the finest senior housing in Charleston and the community is poised to thrive,” Hosmer said in the press release announcing the transaction.

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