Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed over $118.35 million in seniors and healthcare financing during Q1 2023. Among the transactions was a HUD loan for Riverfront Rehabilitation and Healthcare Center, a 180-bed skilled nursing facility (SNF).
Dwight closed a $31.2 million HUD refinance loan for Riverfront Rehabilitation and Healthcare Center.
According to Dwight Capital, the SNF features a beauty salon, gym, lounges, landscaped outdoor spaces, and waterfront views. The HUD loan refinanced an existing bridge loan provided by Dwight Mortgage Trust in June 2022.
In Q1 2023, Dwight Capital also financed a $40 million bridge loan for a portfolio of six skilled nursing facilities in the South-Central region of the U.S. A $38.8 million HUD loan for a 200-bed SNF in New York, a $6.4 million bridge acquisition loan for Charleston House Assisted Living and Memory Care, a 120-bed assisted living facility in Houston, TX, and a $2 million mezzanine loan on a 200 plus bed SNF for an existing client in Aurora, CO.
ESI Arranges the Sale of a Skilled Nursing Community in Georgia
Evans Senior Investments represented a regional owner-operator in the sale of a 148-bed skilled nursing community in Georgia. The purchase price was $12 million, or $81,000 per bed.
The community, which is located 40 miles south of Atlanta, was originally built in 1968 and completed a significant renovation in 2022.
According to ESI, the newly modernized amenities proved to be worthwhile, appealing to residents and bolstering the facility’s occupancy. At the time of marketing, the community was 95% occupied. The ESI team worked through all stages of the deal, including the transition process, and closed this transaction just four months after going to market.
CareTrust REIT was ultimately selected as the buyer, who partnered with Florida-based Elevation Group to operate the facility.
“ESI was able to overcome the community’s special focus candidate designation from CMS by transacting with a publicly traded REIT and avoiding conventional bank financing,” commented Hank Fuller, Senior Associate at Evans Senior Investments.
A Mississippi-based healthcare company acquires Trussville Health and Rehab
Trussville Health and Rehab, a 125-bed skilled nursing and long term care facility, is being acquired by a Mississippi based healthcare company.
The building will be renamed Cavalier Healthcare of Trussville.
“With all the healthcare industry’s challenges and changes, Cavalier Healthcare of Trussville will always prioritize and ensure an unmatched standard of care,” said Brian Hubbard, CEO of Cavalier Healthcare. “We are extremely excited to show Trussville and surrounding communities the leading edge in our industry.”
Companies featured in this article:
Cavalier Healthcare, Centers for Medicare & Medicaid Services, Trussville Health and Rehab
