Ensign Group’s (Nasdaq: ENSG) acquisition of a Nebraska-based health care campus with an 83-bed skilled nursing facility expands its portfolio to 324 operations across 14 states. Meanwhile, Ziegler closed $48.7 million in acquisition financing for EveryAge and $82.27 million in financing for Presbyterian Retirement Communities
Ensign acquires health 83-bed care campus in Nebraska
The Ensign Group announced this week that it acquired the real estate and operations of St. Joseph Rehabilitation and Care Center, an 83-bed skilled nursing facility (SNF), and Skyview Villa Assisted Living, a 20 licensed-bed assisted living facility.
Both facilities are located in Norfolk, Nebraska. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Ensign’s captive real estate company, and the acquisition is effective as of October 1.
“We are thrilled to add these facilities and excited for the growth in Nebraska,” said Barry Port, Ensign’s Chief Executive Officer. “This acquisition also enables us to continue adding to Standard Bearer’s growing Midwest portfolio,” he added.
Dave Jorgensen, President of Gateway Healthcare LLC, Ensign’s Nebraska-based subsidiary, said, “We could not be more excited to add to our Nebraska footprint with these operations in Norfolk. These facilities have a tremendous reputation in the community and our team is ready to work and provide elevated care and experiences for our patients and their families.”
This acquisition brings Ensign’s growing portfolio to 324 health care operations, 30 of which also include senior living operations, across fourteen states. Ensign subsidiaries, including Standard Bearer, own 123 real estate assets.
Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, senior living and other healthcare related businesses throughout the United States.
The Ensign’s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 324 healthcare facilities in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin.
SLB brokers sale of two Northeast Texas SNFs
Senior Living Investment Brokerage (SLIB) facilitated the sale of two skilled nursing facilities located in Daingerfield and Hughes Springs, Texas.
Offering 175 total skilled nursing beds, the portfolio of communities are located within 10 miles of each other. The portfolio is approximately 45,000 square feet in total and is situated on approximately 5.5 acres of land.
The Seller is a local independent owner-operator, which was selling its only skilled nursing/seniors housing communities. The buyer owns and operates several skilled nursing facilities in Texas. The new buyer plans to take advantage of a greater scale and enact its systems in order to take the properties to profitability.
Ziegler closes $48.7M in acquisition financing for EveryAge
Ziegler announced the successful closing of The EveryAge Obligated Group’s $25,310,000 Series 2024B Bonds and $23,400,000 2024 Taxable Term Loan.
EveryAge, formerly United Church Homes and Services, is a North Carolina not-for-profit corporation organized in 1961 for the purpose of developing and managing housing, retirement communities and programs of outreach across the geographic boundaries of the Southern Conference of The United Church of Christ.
EveryAge consists of three existing communities in operation with 956 units ranking 91st nationally, according to the 2024 LeadingAge Ziegler 200. EveryAge also provides management and certain other administrative services to seven corporations operating 252 housing units for low-income seniors and two PACE programs. In addition, EveryAge is currently developing a 95-unit independent living rental community located in Hickory, N.C. BellaAge Hickory is expected to be completed in the first quarter of 2025 and available for occupancy in April 2025.
EveryAge entered into an asset purchase agreement on Aug. 1 to acquire Providence Place, an existing not for profit retirement community as well as two adjacent commercial properties. Providence Place is a rental community that is located on 27.2 acres in High Point, N.C., approximately 10 miles from EveryAge’s Piedmont Crossing community.
Providence Place currently operates 379 beds, made up of 160 independent living units, 58 assisted living beds, 32 memory support assisted living beds and 129 skilled nursing beds.
Ziegler closes $82.27M in financing for Presbyterian Retirement Communities
Ziegler closed on Presbyterian Retirement Communities’ (PRC) $82,270,000 Series 2024 Bonds.
Presbyterian Retirement Communities Obligated Group is the largest group of not-for-profit CCRCs in Florida, and the 11th largest in the nation with a total of 3,863 units, including 2,498 residential units, 617 assisted living units and 748 skilled nursing units.
PRC and its affiliates are a part of Westminster Communities of Florida.
PRC affiliated with Florida Presbyterian Homes (FPH) in Lakeland, Florida, and the Series 2024 Bonds provided for the admission of FPH in the obligated group with the refunding of its outstanding debt, a press release stated. Proceeds of the Bonds will be used, together with other available moneys, for the purpose of refinancing.
Companies featured in this article:
Ensign Group, Presbyterian Retirement Communities, The EveryAge Obligated Group, United Church Homes and Services, Ziegler