A three-facility skilled nursing portfolio in North Carolina received $48.1 million in financing from MONTICELLOAM. Meanwhile, an owner-operator sold a 64-bed skilled nursing facility in California to a local buyer that is leasing to Sun Mar Healthcare.
North Carolina SNF Gets $48.1M
MONTICELLOAM and affiliates funded $48.1million in combined bridge and working capital financing for a three-facility skilled nursing portfolio in North Carolina.
The transaction includes a $45,600,000 bridge loan and a $2,500,000 working capital line of credit. The borrower, a returning MONTICELLOAM client, will use loan proceeds to refinance a 300+ bed skilled nursing portfolio.
“Our goal is to help providers deliver high-quality care while adapting to a shifting healthcare landscape,” said Joseph Borenstein, head of the MONTICELLOAM health care bridge lending team. “Through our financing solutions, we’re able to support long-term growth and strengthen partnerships with experienced operators in the skilled nursing space.”
“We focus on giving operators the resources they need to deliver strong care. With the $2 million working capital line of credit, we demonstrated our commitment to customized financing solutions that support day-to-day operations, staffing, and service quality,” said Kim Gordon, head of the MONTICELLOAM working capital group.
64-Bed SNF in California sold
Evans Senior announced the successful sale of a 64-bed skilled nursing community located in California.
ESI represented an institutional owner-operator in the transaction. The facility was acquired by a California-based buyer, who entered into a new long-term lease agreement with Sun Mar Healthcare, a regional skilled nursing operator with a strong reputation for quality care and operational excellence throughout the state.
“This transaction represents another example of continued investor demand for California skilled nursing assets,” Brendan DeSilvia, director of M&A at ESI, said in a press release. “We’re proud to have facilitated a seamless process on behalf of our institutional client and to have matched the community with an experienced local operator.”
Sun Mar Healthcare, which will assume operational responsibility under the new lease, currently manages a portfolio of skilled nursing and post-acute care centers across California. The addition of the community expands Sun Mar’s footprint and aligns with its commitment to clinical excellence and patient-centered care.
SNF sells for $13M in Colorado
Kiser Group brokered Cottonwood’s $13 million purchase of a Colorado-based skilled nursing facility, according to a news report.
Cottonwood added to its portfolio of more than 30 skilled nursing properties in the state.
Located in Woodland Park, which is roughly 20 miles northwest of Colorado Springs, the facility named Forest Ridge was 95% occupied at the time of sale.
“Forest Ridge was an appealing opportunity because it aligns perfectly with Cottonwood’s strategy of acquiring quality, well-located facilities in markets with strong operational fundamentals,” Mark Myers of Kiser Group, who arranged the transaction, stated. “The facility’s proximity to a 15-bed critical access hospital and its location within a community with a significant veterans population provide strong upside potential for expanding both veterans affairs (VA) and Medicare resident bases.”
