Eduro Healthcare Expands in Texas; Capital Funding Group Sees $3.8B Year

Eduro Healthcare recently added two skilled nursing facilities to its Texas portfolio.

The first facility, in Lockhart, Texas, closed for seven months due to damage from last year’s winter freeze.

“We are excited to be the team to reopen Parkview Nursing and Rehab,” Eduro Healthcare Managing Partner Michael Bewsey said in a news release announcing the deal. “The community of Lockhart deserves this Class-A nursing facility.”


The Utah-based skilled nursing operating company also took over a 100-bed facility in Grapevine, Texas, with a heavy skilled census and “an extreme focus” on inpatient and outpatient therapy.

“This transaction was contemplated and closed in less than 60 days,” Sam Bechthold, vice president of investments at Eduro Healthcare, said in the news release. “By the end of January 2022, we will have acquired 9 buildings in Texas in just under 12 months. Our landlords trust our clinical and financial results and are eager to continue growing with us on new acquisitions or lease transitions and workouts.”

Capital Funding Group Has Record-Setting 2021

Capital Funding Group saw a record number of high volume deals in 2021, financing more than $3.8 billion in 2021 across 155 transactions.


The bank financed 85 Department of Housing and Urban Development (HUD) loans in excess of $720 million and 70 health care and multifamily bridge loans totaling over $3.1 billion.

Capital Funding Group’s seniors housing division provides senior loan and mezzanine financing services to the seniors housing industry, consisting of active adult for seniors, independent living, assisted living and memory care facilities.

“We could not be more excited to share these record-setting results as we continue to grow our business to support our client’s goals and dreams,” CFG Board Chairman and Owner Jack Dwyer said in the news release.

Among the deals closed included a $262.6 million term loan of a 3,140-bed portfolio spanning Colorado, California and Wyoming. The portfolio consisted of 28 SNFs and one joint skilled nursing and assisted living facility, previously owned by SavaSeniorCare.

ESI Helps Sell Eight-Facility Portfolio for $70M in Ohio

Evans Senior Investments announced the sale of eight skilled nursing and for $70 million or $90,000 per functional bed.

The portfolio consists of eight communities totaling 623 skilled nursing beds, 22 independent living units and 176 assisted living beds in Ohio.

A regional owner/operator looking to grow their skilled nursing presence in the state secured the sale after a selective and confidential marketing process.

“While under contract the portfolio received a large Medicaid rate increase of almost $30 per patient day,” Henry Fuller, senior associate at ESI, said in the news release. “This Medicaid rate increase will boost the performance of the portfolio for the new ownership group in 2022 and will add an additional $2,500,000 in revenue.”

Blueprint Closes Massachusetts Deal

Blueprint Healthcare Real Estate Advisors announced the sale of The Terraces Orleans, a private-pay skilled nursing and independent living community on Cape Cod.

Located an hour from Boston, The Terraces Orleans, which has 50 skilled nursing beds and 19 independent living units, was built in 1968 and renovated in 2000.

Blueprint received several competitive offers for the community as it presented an opportunity to acquire a reportedly cash-flowing asset situated in a high barrier to entry market.

The buyer is a Massachusetts-based operator seeking to grow its regional presence with its first facility real estate acquisition.

Ziegler Closes $24,485,000 Financing for Otterbein SeniorLife

Specialty investment bank Ziegler announced it closed $24,485,000 of tax-exempt Series 2021B Bonds in December for Otterbein Homes.

The proceeds of the bonds were used to pay for the acquisition of the membership interest in Kendal at Granville, acquire certain leased property at the campus and pay for the costs of issuance of the Series 2021B Bonds.

With the deal, Kendal at Granville became a member of the Otterbein Homes Obligated Group and rebranded as Otterbein Granville. In total, Otterbein comprises of 1,440 independent living units, 489 assisted living units and 1,020 skilled nursing units across nine communities and nine neighborhoods, now including Otterbein Granville.

The deal also includes $20.5 million of tax-exempt Series 2023 Bonds scheduled to close on April 5, 2023.

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