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 […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, 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 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 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 […]
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 […]
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 […]
Care transitions have become critically important for long-term care providers’ finances, but the world of skilled nursing facilities and home heath settings remains a mystery to many doctors at hospitals — and a pair of hospitalists think there are steps they can take to remove some of the confusion. Christine Jones of the University of […]
Iowa Nursing Home Draws Three Prospective Buyers The 168-bed Country View nursing and mental health care center in Waterloo, Iowa, has drawn the interest of three companies, which have initially offered to buy it for $5.4 million to $5.6 million, The Courier reported. The nursing home is owned and operated by Black Hawk County. Preliminary […]
Therapy companies that provide services to skilled nursing patients must radically change their business models if the Centers for Medicare & Medicaid Services’ (CMS) proposed Patient Driven Payment Model (PDPM) is finalized and takes effect next year. That doesn’t mean that rehabilitation services for skilled nursing facilities will go away. But under PDPM, providers will […]
Private buyers accounted for $1.3 billion in closed transaction volume in the seniors housing and care sector, according to new first-quarter data from the National Investment Center for Seniors Housing & Care (NIC) — though overall mergers-and-acquisition volume took a major tumble. Nursing care transactions included about $900 million in closed deals, while seniors housing […]
New Jersey-based LLC Buys Louisville SNF for $3.5M The Englewood Cliffs, N.J.-based The Portopiccolo Group LLC purchased a 98-bed post-acute care (PAC) and skilled nursing facility in Louisville, Ky., for $3.5 million, Louisville Business First reported. The purchase was made through an affiliate, Jeffersontown Propco LLC, according to Jefferson County documents. The facility was sold by […]
Women account for the vast majority of health care workers in the senior living space — though the proportion of young male workers is on the rise, a new analysis from senior living industry group Argentum found. Female employees accounted for 89% of health care workers, with 40% of all workers between the ages of 30 and 49. […]
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