Monticello Provides $89M in Financing for LTC Portfolio; SLIB Closes on Two SNFs

New York City-based health care lender and asset manager MONTICELLOAM, LLC late last year announced it provided $89 million in debt financing for the refinancing of 10 skilled nursing facilities and one assisted living facility.

The facilities consist of a total of 1,188 beds in California, Colorado and Iowa.

SLIB Helps Sell Two Pennsylvania SNFs

In its 80th transaction of 2021, Senior Living Investment Brokerage completed the sale of two skilled nursing communities in Northwestern, Pa.

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The seller deemed one of the communities, an 80-bed facility, to be a non-core asset, and the other, a larger 180-bed facility was included in the offering to make it more attractive.

The move will see the buyer, a N.Y.-based investor, grow their presence in the state.

SLIB received multiple offers through a targeted and confidential marketing process.

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“This transaction created an opportunity for two, value-add, non-core assets to be divested to strengthen the seller’s overall portfolio,” SLIB’s Toby Siefert and Ryan Saul said in the news release. “It then created a buying opportunity for a group aggressively looking for non-stabilized assets to add value and grow their portfolio.”

Blueprint Closes SNF Sale in Dayton

Blueprint Healthcare Real Estate Advisors last month helped the sale of two skilled nursing facilities located in Dayton, Ohio.

The two facilities underwent considerable renovations since 2010.

The regional owner-operator cited their interest to focus on other assets as a reason to sell.

Blueprint received four offers and an East Coast-based owner-operator was ultimately selected to make their first purchase in the state.

Cushman & Wakefield Arranges Sale of Senior Living Campus

Cushman & Wakefield announced last month it helped in the sale of Wingate at Chestnut Hill, a 135-bed skilled nursing facility, along with an assisted living property on a campus in Chestnut Hill, Mass.

The seller was a pension fund investor interested in exiting the senior living space.

The buyer, a joint venture between Harrison Street, an institutional private equity firm, and LCB Senior Living, LLC, a regional operator, plans to upgrade the existing assisted living building and convert the skilled nursing portion to additional assisted living space, memory care and increased common area space.

The deal represents the fifth divestiture Cushman & Wakefield has executed on behalf of the seller.

Cushman & Wakefield’s Richard Swartz, Jay Wagner, Dan Baker and Jack Griffin completed the transaction.

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