Wisconsin Nursing Homes Get $85M Loan; 182-Bed Ohio SNF Sold for $65k Per Bed

CIBC Bank provided an $85 million acquisition financing term loan and a $2 million working capital revolving line of credit for a portfolio of skilled nursing facilities in Wisconsin.

Historical performance trended positively over the last year as the facilities improved census and operating leverage, CIBC said in a press release.

Going forward, occupancy and operating margins are expected to further improve.


Dan Forrer handled the transaction on behalf of CIBC Bank USA.

182-bed Ohio SNF sold to New Jersey Operator for $65k per bed

Ziegler was involved in the sale of a portfolio located in Northern Ohio. The portfolio comprised three buildings, consisting of 182 skilled nursing beds and 24 behavioral health beds.

The seller is a leading not-for-profit organization dedicated to providing affordable housing and healthcare and supportive services to various populations, including seniors, veterans, and families in need. The portfolio represents the organization’s only health care properties in Ohio.


The buyer purchased the portfolio and took over operations on June 20th, 2024, according to Ziegler. The buyer is a privately held, for-profit owner and operator based in Englewood Cliffs, NJ, that intends to convert one of the campuses into a behavioral hospital. The acquisition was valued at approximately $65,000 per bed.

Greystone provides $29M in HUD-insured financing for SNF in Arizona

Greystone, a national commercial real estate finance company, provided a $29,432,000 HUD-insured loan to refinance a 240-bed skilled nursing facility in Tucson, Arizona.

The financing was originated by Eric Rosenstock, Senior Managing Director at Greystone, on behalf of Sapphire of Tucson Properties, LLC.

Sandstone of Tucson Rehab Centre in Pima County is a long-term skilled nursing and post-acute rehabilitation facility that includes 127 units, consisting of 43 private and 84 semi-private rooms. The facility offers 24-hour skilled nursing, post-acute care and specialized programs, including orthopedic and comprehensive rehabilitation, ventilator care, behavioral health services and chronic disease management. The permanent FHA loan carries a 35-year term and amortization.

CFG closes $42 in HUD financing for 3 SNFs

Capital Funding Group (CFG) finalized a HUD financing package totaling $42 million for skilled nursing facilities (SNFs) across Washington and Idaho. CFG closed the deals on June 5, 2024, on behalf of a nationally recognized borrower.

The package included three loans supporting the refinancing of existing bridge loans for three SNFs, with $9.8 million HUD loan to support an 80-bed facility in Idaho, $21.6 million HUD loan to support a 101-bed facility in Washington, and $10.6 million HUD loan to support a 108-bed facility also in Washington.

This financing follows CFG’s recent announcement of the closing of a Bridge-to-HUD loan totaling $9.75 million, on behalf of a nationally recognized borrower. The loan supported the refinancing of a 123-bed skilled nursing facility in Massachusetts. CFG closed the deal on May 1, 2024.

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