Cambridge Realty Capital Companies announced last month that it provided a $12,722,300 Department of Housing and Urban Development lean loan to refinance a 249-bed skilled nursing facility in Cicero, Ill.
The facility, Alden Town Manor, offers a wide range of health care services and programs, including orthopedic, cardiac, pulmonary and stroke rehabilitation, as well as short-term rehabilitation and on-site dialysis for medically complex care.
The fully-amortized, 35-year loan was provided for the owner, an Illinois limited liability company.
SLIB Completes Florida Sale
Senior Living Investment Brokerage announced the sale of a 120-bed skilled nursing community in Lakeland, Fla.
Located between Tampa Bay and Orlando, the assisted living and skilled nursing facility has faced a difficult few years.
It was delicensed by the state in 2017, reopened to accommodate COVID-19 residents in early 2020 but was nearly vacant when the owner, a publicly traded real estate investment trust, decided to sell, according to the press release.
The AL and SNF are now operating as a campus under Mainstay Senior Living ownership.
“This was an excellent opportunity for the buyer to re-create the initial vision for the campus providing assisted living, memory care, and skilled nursing services all on one site,” Bradley Clousing, SLIB managing director, said in the press release.
Clousing and Senior Vice President Daniel Geraghty handled the transaction for SLIB.
Blueprint Helps Sell Massachusetts SNF
Blueprint Healthcare Real Estate assisted Salmon Health and Retirement in exiting from an assisted living and skilled nursing facility in Northbridge, Mass.
The community, which includes 154 skilled nursing beds and 26 assisted living units, encompaases over 93,000 square feet after expansions in 1995 and 2005.
Salmon Health wanted to exit from the majority skilled nursing community to focus on the predominantly senior housing communities in its portfolio.
Blueprint targeted local and regional investors and received several competitive offers before the seller selected a regional operator in the deal.
Contract negotiations fell through and after reapproaching the bidder pool, a Massachusetts-based buyer stepped in to complete the deal.
Tryko Partners Expands in Rhode Island
Brick, N.J.-based private equity firm Tryko Partners acquired Scalabrini Villa, adding 120 skilled nursing beds to its Rhode Island portfolio, according to a statement announcing the deal.
The facility includes two 60-bed units, with 12 private rooms and 48 semi-private rooms.
“The acquisition of Scalabrini Villa further grows our investment footprint in New England, specifically within the desirable Rhode Island marketplace,” Tryko’s Uri Kahanow, director of acquisitions, said in the press release. “North Kingstown’s enviable demographics and deep regional hospital network added to this opportunity’s appeal. Within this context, Scalabrini Villa is well positioned to serve as a market-leading facility for decades to come.”
A significant capital improvement campaign is planned for the facility.
Tryko-owned facilities are supported by Marquis Health Consulting Services.
Companies featured in this article:
Blueprint Healthcare Real Estate Advisors, Cambridge Realty Capital Companies, Marquis Health Consulting Services, Senior Living Investment Brokerage, Tryko Partners
