SLIB Closes on 116-Bed Facility; CIBC Finances $50M For 5 SNFs

Senior Living Investment Brokerage announced the sale of Cla-Cliff Nursing and Rehabilitation Center, a 116-bed facility in Brinkley, Ark.

The facility was owned and operated within the same family for nearly 60 years, but ultimately the seller was looking to retire and exit the sector. The buyer is a regional owner looking to expand its portfolio.

“The community will benefit operationally from the buyer’s expanding footprint throughout the region,” Daniel Geraghty, senior vice president of SLIB, said in the news release.

Geraghty and Managing Director Bradley Clousing handled the transaction for SLIB.

CIBC Gets $50M Loan For 5 SNFs

CIBC announced it closed on a $50 million acquisition loan for five SNFs in Mississippi totaling 511 beds.

Despite being purchased out of a distressed situation, historical operating performance had remained relatively strong, the news release said.

The properties were leased to a large regional operator with familiarity in the state who intends to use this and their economies of scale to reduce expenses and drive census.

Blueprint Helps With $52M, 5 Facility Deal

Blueprint announced the sale of a portfolio of four transitional care facilities in Texas for $52 million or $153,000 per bed.

The publicly traded client’s portfolio totaled 315 SNF beds as well as 24 assisted living beds with locations in Dallas Fort-Worth, Austin, San Antonio and Houston. The facilities featured resort-style amenities with therapy and rehabilitation gyms.

The portfolio was not stabilized at the time of sale with census and staffing troubles, though the buildings were reportedly improving.

The buyer structured a new 10-year lease with one of their existing operating partners.

Plains Commercial Announces Sale of 3-Building SNF Portfolio in Oklahoma

Plains Commercial announced the sale of three skilled nursing facilities totaling 243 beds in Tulsa and Cushing, Okla.

Two of the buildings were built in the 1960s and 1970s and underwent extensive renovations in recent years. One of the buildings was built in 1997, according to the news release.

The seller, a local operator, planned exit from the industry for a number of years.

After a competitive bidding process the seller chose one of the largest SNF operators in Oklahoma as the ultimate buyer. Both parties worked on ongoing facility operations through the waiting period for the certificate of need transfer process.

Plains Commercial’s Daniel Morris handled the transaction.