Ensign Grows in Arizona; Operator Gets Break for Skilled Nursing Expansion

Ensign Group Acquires Arizona SNF The Ensign Group (Nasdaq: ENSG) acquired the operations of Sun West Choice Healthcare and Rehabilitation, a 140-bed skilled nursing facility in Sun City West, Ariz. The Mission Viejo, Calif.-based provider has a long-term lease on the facility, which was effective June 1, and the deal brings the number of skilled nursing […]

New Nursing Care Units Take Longest to Fill After Opening

Despite a surprisingly high median occupancy number, the lease-up rate for nursing care units lags behind the other three key asset classes in the seniors housing and care space. The National Investment Centers for Senior Housing & Care (NIC) found that median occupancy at nursing care units in new properties sat at 92% after 16 quarters of operation — […]

Therapy Providers Agree: PDPM Improves Upon Old Payment Models

A new survey of therapy providers found broad support for the new Patient Driven Payment Model (PDPM), with respondents citing it as an improvement over the Centers for Medicare & Medicaid Services’ (CMS) earlier attempts at payment reform. Specifically, the new survey of 134 therapy professionals — including a mix of contract therapy providers and skilled […]

Providers Strike Back at Lawmakers’ Call for Tighter Regulations

The skilled nursing industry pushed back strongly against the idea that the Centers for Medicare & Medicaid Services (CMS) has reduced federal oversight of nursing homes, as argued recently by 17 state attorneys general. “There was no rollback of anything,” Dr. David Gifford, senior vice president of quality and regulatory affairs at the American Health […]

Skilled Nursing Operators Demand Rehab Renovations as PDPM Looms

With the advent of the Center for Medicare & Medicaid Services’ (CMS) new Patient Driven Payment Model (PDPM), rehabilitation and therapy in the skilled nursing space has come under intense scrutiny. When CMS introduced PDPM in late April, it touted incentives to treat the needs of the whole patient. One side effect of that focus, however, is […]

New Law Allows Video Monitoring in Louisiana Nursing Homes

A new Louisiana law allows nursing home residents and their family members to set up video monitoring devices in nursing home rooms under certain conditions. The law was signed by Gov. John Bel Edwards on May 31. The Louisiana Nursing Home Association (LNHA), the state’s American Health Care Association (AHCA) affiliate, expressed support for the […]

Must-Reads: Report Blisters Consulate; Iowa Attempts to Claw Back $25M

Local concerns feature prominently in this week’s roundup of must-read news, where we highlight great skilled nursing stories you might have missed in the past week. Consulate investigation USA Today Network — Florida published an investigation into Consulate Health Care as part of its “Neglected” series, which examines nursing home issues in the state of Florida. The […]

Five-Property Lease in North Carolina; Ziegler Secures $52M Refinancing

Blueprint Announces Five-SNF Portfolio Lease in North Carolina Blueprint Healthcare Real Estate Advisors announced the portfolio lease of five North Carolina skilled nursing facilities with a total of 638 beds. The owner was looking to diversify its risk through sale or a new lease to a third-party tenant. Blueprint identified an owner-operator that saw the […]

Carnegie Capital Secures $12M for Maryland SNF; Cross-State Merger in NJ

Carnegie Capital Secures $12M Loan to Refinance Skilled Nursing Facility Carnegie Capital, a commercial real estate finance and advisory firm based in Austin, Texas, sourced and structured a $12 million loan to refinance the existing note on a 115-bed skilled nursing facility and free up additional proceeds to upgrade the building. The loan will also be used […]

Larger Skilled Nursing Portfolios Hit Market as Sell-Off Continues

As occupancy declines, managed care grows, and payment models change, larger skilled nursing portfolio deals are cropping up in the mergers and acquisitions landscape. Skilled nursing players are taking notice. “We also continue to see opportunities involving several larger well-known portfolios of skilled nursing assets, and we expect to participate in the marketing process with […]

Kansas Nursing Homes Navigate ‘Weird’ Issues Left in Skyline’s Wake

When Kansas placed 15 skilled nursing facilities operated by Wood Ridge, N.J.-based Skyline Healthcare into receivership in late March, it exposed some immediate problems for the new operator, Mission Health Communities. The Tampa, Fla.-based Mission agreed to oversee operations and took control of the buildings on March 26, though it’s not clear how long it […]

Former NH Nursing Home Pitched as Mental Health Facility for Teens

After a plan to convert a vacant New Hampshire nursing home into a drug treatment center failed amid community blowback, the facility could soon see second life as a mental health facility for teens. The Bennington, Vt.-based group VPI South, which already operates a facility for girls who have experienced prolonged trauma, proposed opening the Gallagher […]

Two-Facility Deal in Florida; Meridian Arranges Financing for Eight SNFs

Blueprint Health Care Announces Two-SNF Deal in Florida The Chicago-based Blueprint Health Care Real Estate Advisors assisted a publicly traded real estate investment trust (REIT) in selling two non-core assets in DeLand, Fla.: University Center East and University Center West. One of the skilled nursing facilities had been flagged as a Special Focus Facility by […]

Revenue Will Decline Under New Model, But Nimble Rehab Providers Can Thrive

Though the skilled nursing landscape under the latest proposed payment model remains unseen, rehabilitation and therapy companies are preparing now for the changes to come. The Centers for Medicare & Medicaid Services’ (CMS) new Patient-Driven Payment Model (PDPM) is expected to incentivize skilled nursing facilities to take on more medically complex patients, and could provide a […]

Skilled Nursing Turnaround Artists Focus on Staff First, Finances Second

A distressed skilled nursing facility could have problems on multiple fronts, but when trying to fix it, operators and owners need to concentrate on the people working there. Any SNF business can be broken down into four major components: physical, operational, clinical, and financial. That’s according to Isaac Dole, founder and managing partner at Chicago-based Birchwood Healthcare […]

Greystone Adds Skilled Nursing Equity Capital Platform

Greystone, a New York-based real estate lending, investment and advisory company, launched Greystone Healthcare Investments, an extension of the firm’s existing health care real estate capital services. The new platform will focus on providing equity to health care facility owners, particularly post-acute care (PAC) and skilled nursing facilities — primarily through the sale-leaseback model, with Greystone […]

Private Pay Skilled Nursing Shouldn’t Be Ignored, Especially in Rural Areas

Private-pay residents are frequently overlooked as a revenue source in the skilled nursing world, and with some cause: They don’t have the staying power of Medicaid or the sizable market share of Medicare or managed care. But ignoring that stream altogether could be a mistake, particularly for operators with more rural locations. “There are so […]

KeyBank Breaks HUD Financing Record for New York Nursing Home

KeyBank Real Estate Capital secured $127 million in Federal Housing Administration (FHA) 232/223(f) financing for a Manhattan skilled nursing facility. It was the largest single-asset financing ever insured by the U.S. Department of Housing and Urban Development (HUD) in the FHA 232 program, which helps finance nursing homes, assisted living facilities and board and care facilities. The loan proceeds […]

One Skilled Nursing Facility’s Turnaround from Two Stars to 97% Full

Five years ago, the Harlem Center for Nursing and Rehabilitation had rooms filled with used and abandoned building materials. Wires were hanging from the ceilings, and some of the showers in patient bathrooms weren’t working. That’s according to Melissa Powell, chief operating officer of the Allure Group, which took over the facility in 2012 and […]

$30M Facility to Open in Miami; Kentucky SNF Sells for $6.5M

Greystone Healthcare Management Announces New $30M Facility in Miami Greystone Healthcare Management announced the opening of a skilled nursing facility in Miami this fall. The center will feature various medical services and specialized orthopedic, cardiac, and stroke rehabilitation programs. Greystone, which manages 28 facilities in Florida, invested $30 million into the 150-bed Kendall Lakes Health and […]