Greystone has provided $12,750,000 in bridge financing for the acquisition of a Texas skilled nursing facility. Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas.
Highland Meadows Health & Rehab, a 120-bed SNF in Rockwall, Texas, was acquired on behalf of HACO Properties, LLC.
Greystone Vice President DJ Elefant originated the transaction and Helios Healthcare Advisors served as the debt broker in the deal.
The interest-only financing features a 24-month term with one 12-month extension option.
The facility, operated by HACO Health Solutions, LLC, features both private and semi-private rooms, as well as a salon, dayroom, a library and “comprehensive” therapy services.
Optalis Healthcare Expands in Ohio With $81M Purchase
An Ohio-based senior care enterprise – which included seven communities consisting of roughly 750 dually certified SNF beds and 200 senior housing units – recently divested its portfolio for $81 million or roughly $130,000 per bed/unit.
The regional owner-operator sold five of the assets and sub-leased the remaining two, citing a desire to exit the SNF industry, Blueprint said in a news release.
The buyer, Optalis Healthcare, a Novi, Michigan-based owner-operator, was looking to expand its Midwest platform, according to Blueprint.
The non-recourse acquisition financing was provided by VIUM Capital.
After historically operating near stabilized levels with consistent revenue of more than $70 million annually, the portfolio’s performance declined during the Covid-19 pandemic.
Blueprint received seven offers and ultimately selected Optalis.
VIUM Uses Bridge Loan for $36,267,000 in Refinancing
VIUM Capital announced it landed $36,267,000 in refinancing for five skilled nursing facilities in Louisiana for a non-profit borrower.
The loans will be used to refinance various tax-exempt bond issuances and bank term loans and will be refinanced next year with U.S. Department of Housing and Urban Development loans.
VIUM and a local bank provided the loans.
Structuring the transaction as one loan allows the company to reallocate the debt across the five facilities based on performance, according to VIUM Executive Managing Director Steve Kennedy.
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