Bloomfield Capital, direct lender and equity investor in commercial real estate assets, announced the closing of a $12.0 million senior bridge loan, which was used to refinance a maturing loan on a skilled nursing facility located in Southern California.
The loan’s sponsor purchased and restructured multiple senior living assets throughout the Western U.S. and is a seasoned owner and operator, according to Bloomfield.
“The subject property was purchased several years ago, and since that point, the Sponsor has focused on improving the facilities, the quality of care, and its operating performance,” the company said in a press release.
The sponsor plans to refinance Bloomfield’s bridge loan with agency financing once the facility has an additional 12 months of stabilized operating history.
“Bloomfield Capital was able to quickly underwrite and refinance the asset,” stated Renee Lewis, a Partner at Bloomfield Capital, in a press release. “This well-managed property is attractive to prospective residents due to its seasoned operational staff, and its infill Southern California location.”
PointClickCare acquires Patient Pattern
Canadian health tech company PointClickCare, which focuses on elder care, acquired Patient Pattern, a value-based care electronic health record and integrated care management platform.
Patient Pattern, a New York-based company, works with Medicare Advantage Special Needs Plans, PACE programs and ACO REACH participants.
“As our customers continue to embrace value-based care and see the success of this model, we are excited to deploy Patient Pattern’s care management platform. Care models will continue to evolve, and this strategic investment is another example of our commitment to helping our customers thrive in this evolving market, specifically, the opportunity to succeed with this shift to risk,” Travis Palmquist, senior vice president and general manager of senior care at PointClickCare, said in a statement.
According to Mobile Health News, PointClickCare has acquired several companies to expand its senior-focused portfolio, including QuickMar, a post-acute care management system, and Collective Medical, a cross-continuum coordinated care platform.
Ziegler Closes $76,000,000 Bonds for Brazos Presbyterian Homes, Inc.
Ziegler, a national boutique investment bank, announced the closing of $76,000,000 Series 2023 Bank Bonds for Brazos Presbyterian Homes, Inc.
Brazos Presbyterian Homes owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village.
The bonds will be used to fund the Ballantyne Expansion Project, which consists of 48 new independent living apartments that are 100% pre-sold, with underground parking, as well as renovating existing common spaces.
“Brazos Presbyterian Homes and LHV appreciate the dedication of Brandon Powell and the Ziegler team for bringing the long-awaited Phase 2 to Longhorn Village,” Deidre Kinsey, Chief Operating Officer, Brazos Presbyterian Homes, Inc., stated in a press release. “Ziegler has been an instrumental partner in providing guidance during this project and securing the financing during economic uncertainty and a volatile marketplace.”
Blueprint closes New Mexico nursing facility
Blueprint announced the closing of Sunset Villa Care Center, a skilled nursing facility in Roswell, New Mexico.
“Despite being built in 1965, the facility is very well maintained, and has strong recent and historical financial trends,” Blueprint wrote.
The 52 bed skilled nursing facility is located 3 miles from both Lovelace and Eastern New Mexico Medical Center, two important regional acute care hospitals.
“At the time of marketing, the facility was running revenues of approximately $6M, with a quality-mix more than 40%,” Blueprint wrote.
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