A three-facility, 347-bed skilled nursing portfolio in Michigan changed hands. Meanwhile, a three-facility, 360-bed portfolio in New Mexico was also sold.

347-bed SNF sold in Michigan

Evans Senior Investments (ESI) completed the sale of a three-facility, 347-bed skilled nursing portfolio in Michigan on behalf of an institutional owner exiting the state.

Welltower acquired the portfolio and partnered with an operator entering the Michigan market for the first time.

ESI highlighted approximately $990,000 in potential annual revenue gains through Medicaid, Medicare Part A and Medicare Part B rate optimization, as well as opportunities to improve hospital referrals and managed care contracts. The portfolio’s scale and proximity to major hospital systems generated strong institutional interest.

360-bed SNF sold in New Mexico

Evans Senior Investments (ESI) also completed the sale of a three-facility, 360-bed skilled nursing portfolio in Albuquerque, New Mexico. ESI represented the seller, an independent owner who had held the properties for more than four decades before exiting the senior care industry. The portfolio sold under the existing triple-net lease, with Genesis Healthcare serving as the operator.

Illinois operator receives $4M in financing

SixCap Healthcare Finance closed a $4 million asset-based lending facility for an experienced operator of seven skilled nursing facilities across Illinois. The new facility refinances the borrower’s existing non-bank debt with more competitive pricing and an enhanced borrowing base structure. The financing is designed to improve liquidity, increase financial flexibility and provide tailored working capital to support ongoing operations and long-term strategic goals. The deal also reflects SixCap’s continued expansion of its healthcare financing portfolio nationwide.

110-bed newly constructed facility leased

Plains Commercial announced the lease of St. Juanita Retirement & Rehab in San Angelo, Texas.

St. Juanita Retirement & Rehab is a newly constructed facility located in the West Texas town of San Angelo. The facility features a Class A physical plant and high-quality finishes. Licensed for 110 beds, the facility was still in lease-up at the time of lease execution, offering significant upside for the incoming operator.

Plains was engaged by the owners to conduct a targeted marketing campaign to lease the facility. The selected operator is a regional operator based in Houston with operations in multiple states. The parties moved quickly, with the new operator taking possession less than 90 days after execution of the letter of intent.