Greystone Lands $78 Million HUD Loan for Brooklyn SNF Greystone, a New York City-based real estate lending, investment and advisory company, provided a $78 million Department of Housing and Urban Development refinance loan for Boro Park Center for Nursing & Rehabilitation in Brooklyn, N.Y. The transaction represents one of the largest-ever HUD loans for a […]
As HCR ManorCare, Inc.’s battle with landlord Quality Care Properties (NYSE: QCP) drags on, the most likely outcomes for the skilled nursing operator are bankruptcy or receivership, according to a bankruptcy lawyer with experience in health care industry restructuring. QCP, a Bethesda, Md.-based real estate investment trust (REIT), was reportedly close to a full equity […]
Harborview Capital Partners Closes a $48 Million Bridge/Mezzanine to HUD Loan for Two Florida SNFs Harborview Capital Partners, a commercial real estate finance, equity, and advisory firm, arranged a $44 million loan for two skilled nursing facilities in Tampa and Jupiter, Fla., the company announced. The refinance loans were provided by a national lender and […]
In June, Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced a planned merger with Care Capital Properties, Inc. (NYSE: CCP). Now, Sabra stakeholder Hudson Bay Capital, a New York-based hedge fund, advised other stakeholders to vote against the deal because it has led to a decline in share prices for both parties. “We are being asked to approve […]
Hospital patients only have a limited window of time to select a skilled nursing facility at discharge, and hospitals are increasingly looking at a few new metrics when deciding which SNFs to recommend. In particular, hospitals are watching staff turnover rates more and more — even for executive positions, Vivage Senior Living chief business development officer Nancy […]
When it comes to choices about health care, seniors should have as much information as possible to make educated decisions. Yet for the more than 20 percent of Medicare-using seniors who are admitted to skilled nursing facilities following a hospital stay, decisions have to be made quickly and with very limited information, according to a […]
New York State SNF to Close Due to Declining Occupancy Michaud Residential Health Services in Fulton, N.Y. is making plans to transfer its 64 residents and close by October 1. The 89-bed facility, which has been in operation since the 1970s, was previously owned by Oswego County, but was sold to not-for-profit St. Luke Health Services […]
The Senate’s proposed health care legislation, like the bill that passed the House, includes significant cuts to Medicaid, which is the top payer for skilled nursing services. This presents obvious challenges for SNFs, but also may provide some positive outcomes. In the first quarter of 2017, 65.2% of patient days were attributed to Medicaid, and the Medicaid patient […]
Last year, the Centers for Medicare and Medicaid Services (CMS) issued its first comprehensive overhaul of skilled nursing rules since 1991. But faced with objections from operators in the industry about the scope and timing of the new requirements, CMS decided to delay their enforcement of the regulations. The Phase 2 stipulations of the revised Requirements […]
Most newly admitted nursing home residents could not be safely and cost-effectively diverted to home- and community-based services (HCBS) because many of them have health issues, such as dementia and stroke, that require high levels of care, according to a Canadian study in the July issue of JAMDA. Only about one in 20 nursing home residents could […]
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