A Michigan-based portfolio consisting of 11 skilled nursing and long-term care facilities with 1,330 licensed beds was sold. Meanwhile, a 124-bed skilled nursing facility was sold in Texas.

Plains Commercial announces sale of 124-bed SNF in Texas

Plains Commercial announced the sale of a 124-bed skilled nursing facility in Duncanville, Texas.

Built in 2009, the facility has been leased and operated by a national operator since construction.  The facility was sold with a long-term lease in place with the current operator.

Plains was engaged by the seller, a partnership of local investors, to market the facility confidentially. The buyer is an institutional investor with additional skilled nursing investments in Texas.  The parties worked collaboratively to facilitate closing approximately 6 weeks after PSA execution, Plains stated in a press release.

Daniel Morris with Plains Commercial handled the transaction.

CFG provides $930 million in financing across 50 transactions in the first half of 2025

Capital Funding Group (CFG) announced that the company’s Bridge-to-HUD and HUD teams financed more than $930 million across 50 transactions in the first half of 2025. This financing included 14 HUD loans, 21 bridge loans and, 15 accounts receivable loans for clients across the country.

“Our momentum in the first half of 2025 highlights our competitive advantage—driven by entrepreneurial thinking, deep industry expertise, and a commitment to delivering real value for our clients,” said CFG Bank President Erik Howard. “We’re not just providing capital; we’re helping our clients grow smarter with tailored solutions that traditional lenders can’t offer.”

CFG Bank Chief Lending Officer, Bridge and HUD Loans Tim Eberhardt said in a press release, “These transactions reflect how we help move our clients’ visions forward. Every deal we structure is part of a larger strategy to strengthen portfolios, unlock new opportunities, and create lasting value for our clients. That’s what it means to have a lending partner who sees the full picture and that’s the CFG way.”

VIUM completes 32 transactions totaling nearly $780 million

Amid an evolving senior living landscape, VIUM Capital closed its strongest first half ever, demonstrating the strength of its diversified platform and industry leadership. The seniors housing and health care lender completed 32 transactions totaling nearly $780 million in par value through June 30, VIUM said in a press release. Financing structures included both bridge and permanent debt solutions, funding 51 separate properties across 14 states nationwide.

Notably, 18 of the financings were HUD/GNMA loans through HUD’s 232/223(f) program, totaling over $360 million in par. VIUM concluded the 2024 government fiscal year as the #2 ranked HUD health care lender in the country, both in total volume ($450 million) and number of transactions closed (37).

“Our first-half production volume doubled that of the first six months of 2024, which itself was a record year,” said Tony Ruberg, Senior Managing Director. “With over $800 million of additional HUD volume already submitted, we expect the balance of 2025 to be even stronger. Our platform — combining proprietary bank bridge and debt fund capital with a proven track record as a top HUD health care lender — is delivering exactly as we envisioned when we carefully designed the firm just over five years ago.”

Year-to-date 2025 also saw VIUM’s HUD/GNMA servicing portfolio surpass 100 loans. The firm added a HUD-approved LEAN underwriter and several new analysts to support continued growth.

Meanwhile, equity investments in VIUM’s debt fund reached a milestone, further expanding the fund’s lending capacity through prudent leverage.

“We are leaning more heavily into expanding the capital side of our business,” added Chris Blanda, Senior Managing Director. “We are actively targeting a doubling of our equity investments in our debt fund over the next year, and we plan to hire a Director of Debt Capital Markets to lead and manage our relationships with other banks and non-bank lenders. This is all part of our intentional plan to build the top health care and seniors housing lender in the country.”

VIUM’s growth momentum has been further strengthened by favorable regulatory tailwinds, including the repeal of a prospective skilled nursing staffing mandate, increased velocity within the HUD 232 queue, and the launch of the HUD 232 “Express Lane” for qualified projects. VIUM’s leadership team continues to advocate for these industry advancements through key roles at HMAC (President, Alison Lemle), MBA (COMBOG Board Member, Steve Kennedy), and ASHA (Board Member, Kass Matt), among others.

VIUM Capital employs over 30 team members and is headquartered in Columbus, Ohio. It has regional offices in Austin, Texas and Boca Raton, Florida. The firm is privately owned and controlled.

Michigan portfolio sold

Blueprint was engaged by Michael F. Flanagan, the duly appointed Receiver of Spartan Holdco LLC and approved by the Oakland County Circuit Court to run a comprehensive and efficient marketing process, sourcing qualified overbids for the auction sale of the SKLD portfolio.

Dubbed Project Spartan, the portfolio consisted of 11 skilled nursing and long-term care facilities with 1,330 licensed beds located across Michigan, serving both metro Detroit and the Grand Rapids metropolitan area.

The Receiver was appointed in January 2024 and retained Hyper Care Management Solutions LLC, a highly respected operator throughout the Midwest, to manage the day-to-day facility operations. In January 2025, the Stalking Horse was selected and contracts approved by the Court, after which Blueprint was approved to begin its direct marketing campaign to procure overbids from qualified acquirers.

Blueprint generated considerable market interest resulting in multiple qualified overbids, paving the way for a competitive and highly spirited auction in March 2025. The auction process yielded nearly $20 million in additional gross sale proceeds above the Stalking Horse bid, a welcomed outcome by the Receiver and the various stakeholders, with Optalis Healthcare as the top bidder.

Working together with all parties and respective counsels, the portfolio was ultimately bifurcated with Optalis Healthcare acquiring seven facility locations and the Stalking Horse acquiring four facilities. The result was the best opportunity for the stakeholders to realize the highest value for the purchased assets and allowed for the highest degree of execution certainly throughout the sale process.

“This acquisition is a strategic step forward in our mission to expand access to high-quality care. By bringing these seven new locations into our network, we’re not just growing – we’re investing in the health of the communities we serve,” CEO Raj Patel said in a press release. “We’re proud to welcome the dedicated teams at these locations into the Optalis family. Together, we’ll ensure that residents experience a smooth transition and continued excellence in care.”

Optalis has now expanded to 41 locations in Michigan and Ohio including skilled nursing and assisted living and is now the fourth largest skilled nursing provider in Michigan.

SNFs sold near Tennessee and Virginia

The Ballad Health portfolio included four health care facilities with regional concentration along the border of Tennessee and Virginia, including three skilled nursing and long-term care facilities and one and one assisted living community, totaling 402 licensed beds.

The portfolio featured 5-star and 4-star CMS rated skilled nursing facilities, and presented a highly-attractive opportunity for a regional-based owner/operator to achieve immediate scale with attainable value-add operational upside while capitalizing on the strong referral relationships via Ballad Health’s broader acute care health system an integral component to Blueprint’s marketing approach.

Given the portfolio’s long-standing history under Ballad Health’s ownership, Blueprint’s mission was not only to procure the best and highest pricing, but also to identify an incoming operating partner that would build on and continue the non-profit’s mission as one of the market leaders throughout the region.

Following an extensive marketing process, Blueprint procured multiple competitive offers from a variety of investor profiles. After careful consideration, the seller ultimately selected Ahava Healthcare, a New York-based owner/operator with meaningful existing scale in the Tennessee market. Ahava was carefully selected for its unique, patient-centric approach delivering quality care and its ability to transact and transition this regional portfolio.

“Blueprint helped us find a partner that aligns with our mission and commitment to quality care. They helped us navigate a complex process with clarity and precision, ultimately leading us to Ahava Healthcare, which brings the expertise and focus these facilities deserve,” Marvin Eichorn, executive vice president and chief administrative officer at Ballad Health, said in a press release.

Upon closing, the seller and buyer entered into a new Joint Venture relationship, with the seller retaining a minority share in the portfolio.