Healthcare Transactions Group completed the sale of Bon Secours Mercy Health’s post-acute portfolios in Ohio and Florida. This marks the final phase of a divestiture process that began in November 2019.
The Ohio portfolio included four skilled nursing facilities, four assisted living facilities and one independent living facility. The Florida portfolio was made up of one SNF and one assisted living facility in St. Petersburg.
The prices and other details of the transaction are confidential, according to a Healthcare Transitions Group news release.
The portfolio sales complete the company’s strategic exit from skilled nursing, assisted living and seniors housing as it plans to focus on its acute and primary care services, according to the news release.
Healthcare Transactions Group’s Mark Davis negotiated and facilitated the transactions.
Bon Secours Mercy Health is a not-for-profit Catholic health system sponsored by Bon Secours Mercy Ministries, with 50 hospitals in six states and Ireland.
Based in New Jersey, the buyer has an extensive history and family experience operating skilled nursing and assisted living facilities and an existing post-acute platform in Ohio and Florida, the news release stated.
Ziegler Secures $35.25M in Financing
Ziegler announced it raised $35.25 million in financing for Hill Valley Healthcare to acquire a continuing care retirement community (CCRC) in Farmville, Va.
The community serves seniors across the care continuum and includes 60 independent living, 85 assisted living and 120 skilled nursing beds. It also uses a rental model instead of a typical CCRC entrance fee model and caters to private pay, traditional commercial insurance, Medicare and Medicaid populations.
The acquisition marks Hill Valley’s 10th senior housing/skilled nursing community in Virginia and 20th overall in their East Coast footprint.
Shimmy Idels, Hill Valley co-founder and co-CEO, said in the news release that the property “fits perfectly” within the operator’s Virginia footprint.
“The Hill Valley Management team found a diamond in the rough with this community,” Ziegler Investment Banking Management Director Christopher Utz said in the news release.
CFG Closes $10.57M for New Jersey SNF
Capital Funding Group announced it closed $10.57 million in Bridge-to-HUD financing for the acquisition of an 84-bed skilled nursing facility in Pittsgrove, N.J.
Capital Funding Group’s Tim Eberhardt and Ava Julio handled the transaction.
Three Senior Housing and SNF Communities Sold in Ohio
Blueprint announced the sale of three senior housing and skilled nursing communities located in southwest Ohio.
The overall portfolio is anchored by a CCRC that includes three facilities totaling 299 skilled nursing beds and 211 senior housing units in the Cincinnati area.
The community maintained stable occupancy and cash flows throughout Covid and the sellers were looking for a succession plan after operating the community for almost 60 years.
An institutional buyer who incorporated the properties into their existing joint venture with a local provider was selected.
Companies featured in this article:
Blueprint Healthcare Real Estate Advisors, Bon Scours Mercy Health, Capital Funding Group, Healthcare Transactions Group, Hill Valley Healthcare, Ziegler
