Evans Senior Investments (ESI) announced it represented the bankruptcy disposition of two skilled nursing communities in Florida tied to Consulate Health Care.
The bankruptcy stemmed from a whistleblower case that resulted in a civil fraud judgment of $256 million, of which Consulate Health Care was ordered to pay $4.5 million.
Both nursing homes operated under the Consulate Health Care brand and filed for bankruptcy when the SNF operating entities couldn’t afford to pay the judgment against them, according to the news release.
This deal comes as Consulate is in the midst of rebranding in the state of Florida.
ESI represented the debtors in the sale and the assets were ultimately sold after an auction in a credit bid transaction to a related party.
Lument Closes 137 Deals in 2021
Lument saw a record number of deals in 2021, financing $1.49 billion in 137 seniors housing and care transactions.
The firm closed 21 transactions in Ohio, 17 in Indiana, 12 in Illinois, eight in Virginia, and six each in California, Minnesota and Oklahoma.
FHA note modifications, which allow borrowers to maintain existing FHA loans while reducing interest rates and monthly payments, were a big part of Lument’s 2021 transaction volume, with 92 transactions totaling $828 million, according to the news release.
Lument has kept this momentum in 2022, closing on six FHA note modifications in January totaling $31.1 million. The portfolio included three assisted living and skilled nursing communities in Ohio, two assisted living communities in Minnesota and one assisted living community in Illinois.
Harborview Capital Partners Gets $13.8M in Financing for Two Oregon Properties
Commercial real estate finance firm Harborview Capital Partners arranged a $13.8 million acquisition loan for a 160-bed skilled nursing and assisted living facility in Oregon.
The bridge-to-HUD loan features 80% loan-to-cost, a low-fixed rate, three-year term and two-year interest-only payments.
Harborview’s Eli Osdoba and David Chiger arranged the financing for the transaction.
Blueprint Helps Facilitate REIT Senior Care Asset Sale
Blueprint announced the sale of a 167-bed independent living, assisted living and skilled nursing facility in Nampa, Idaho.
The owner and operator, a real estate investment trust, decided to exit and sold to Cascades Healthcare.
Cascades was reportedly selected due to its expanding clinician-led experience.
Companies featured in this article:
Blueprint Healthcare Real Estate Advisors, Cascades Healthcare, Consulate Health Care, Evans Senior Investments, Harborview Capital Partners, Lument
