Carespring Plots Skilled Nursing Expansion — But Only If It’s a Drive Away

In a skilled nursing landscape short on new development and populated with many options for outsourcing components of care, Carespring has made a point of keeping its rehabilitation services in-house — and only expanding through new construction. With 11 total SNFs in Ohio and Kentucky, Carespring is looking to maintain its local presence while growing […]

Providers Turn to Behavioral Health to Boost Sagging Skilled Nursing Revenue

Depending on the state they’re in, skilled nursing facilities could jolt flagging finances by adding a behavioral health component to their lineup of services. But they have to proceed carefully. Such services can bolster reimbursement significantly, while also creating additional pressure on hiring, staffing, and programming, according to providers presenting at the LTC 100 conference […]

Bridgemoor Opens $20M Rehab Facility; Centre Care Breaks Ground on $45.3M SNF

Bridgemoor Transitional Care opened to the public a newly built short-term rehabilitation facility in Webster, Texas, with a final price tag of $20 million. Specifically targeting post-acute residents, the new Webster facility features 70 private suites equipped with bathrooms, an in-house pharmacy, and dialysis coordination, along with high-end food options and a salon. “Our Webster […]

Generations Healthcare CEO: Why We Built New SNFs in California, Nevada

Generations Healthcare recently broke ground on a new skilled nursing facility in Temecula, Calif., one that will include 116 skilled nursing and rehab beds and 64 memory care and dementia-focused beds. That bed ratio in some ways reflects where Generations president and CEO Thomas Olds, Jr. sees the skilled nursing world going: toward sicker patients […]

Blue Wolf, Peloton Bet on Inpatient Rehab with New Private Equity Venture

A pair of private equity firms on Monday announced a new partnership aimed at developing and buying inpatient rehabilitation facilities, with an eye toward underserved communities — and eventually filling gaps in the care continuum beyond the IRF. Blue Wolf Capital Partners and Peloton Equity, LLC have teamed up to form ClearSky Health, with veteran […]

Green House Project Expands Short-Term Rehab Focus to Meet Expected Demand

The Green House Project, a non-profit that offers alternatives to traditional nursing homes, this week launched an initiative designed to broaden its reach — including a financial feasibility model and a newfound focus on short-term rehab services. Both financial feasibility and the growth of short-term rehab are looming factors in the skilled nursing world, where […]

Turn-Key CEO: Why Palliative Care Must Soon Come to Skilled Nursing

Given their emphasis on rehabilitation and recovery, skilled nursing facilities aren’t typically places where patients receive palliative care. That’s despite the fact that only a small portion of nursing home residents who would benefit from such care usually receive it, according to one study published in 2017 by the Journal of the American Medical Association. […]

HHC’s $81M Refinance for Legacy, Cascade; Multiple Bids on 100-Bed SNF in OK

Housing & Healthcare Finance earlier this month pulled off an $81 million refinancing for Cascade Capital Group and its operating affiliate, Legacy Healthcare. The North Bethesda, Md.-based HHC Finance arranged the deal for a six-building portfolio in the greater Chicagoland area, refinancing the buildings through the Department of Housing and Urban Development’s (HUD) 223(f) loan […]

Short-Term Rehab Push Leads to Oversupply in Some Markets

New development in the skilled nursing world has increasingly taken the form of short-term rehabilitation centers, where providers see an opportunity to capture a higher share of the shrinking Medicare pool amid Medicaid and Medicare Advantage pressures. But in certain markets, that strategy may not be a recipe for success. In fact, in some states […]

Diakonos, Leo Brown Mix Post-Acute with Private Pay at New $15M Skilled Nursing Facility

In an era of tight finances and legal caps on the number of beds, new skilled nursing developments are few and far between — with most of the action in recent years focused on higher-end, post-acute rehab facilities. The Diakonos Group’s latest development, a $15 million skilled nursing facility in Tulsa, Okla. with a total […]

Former Mainstreet Executive Takes Over Four Rapid Recovery Centers in Texas

The operations of four rehab-focused skilled nursing facilities developed by Mainstreet have been sold to a former company executive and his newly formed operating firm, Skilled Nursing News has learned. Led by Mark Fritz, who helped create the “Rapid Recovery Center” model for the Carmel, Ind.-based senior care developer, Bridgemoor now operates the quartet of […]

Dwight Capital’s $13M Bridge Loan in Ohio; Marquis & Tryko Expand in Maryland

Tryko Partners on Friday announced the acquisition of Collingswood Rehabilitation & Healthcare Center in the Washington, D.C. suburb of Rockville, Md. The Brick, N.J.-based private equity firm installed its health care affiliate, Marquis Health Services, as the new operator, with plans for $4.5 million in capital improvements and new programming at the site. The 160-bed […]

New York Investor Picks Up Pair in Baltimore; SLIB’s $13M SNF Sale in Nevada

A New York-based owner, operator, and investor picked up a pair of nursing homes in Maryland with the help of Healthcare Transactions Group. The Brinton Woods Post Acute Center and the Brinton Woods Health & Rehab Center at Arlington West were sold February 1, according to an announcement from Healthcare Transactions Group, a Reisterstown, Md.-based […]

CareTrust Buys Campus for $9M; New Owner on Deck for SNF in Receivership

CareTrust REIT (Nasdaq: CTRE) on Tuesday announced the $9 million acquisition of the Oakview skilled nursing and supportive living campus in Mt. Carmel, Ill. The community features 90 skilled nursing beds and 38 supportive living facility beds, according to a deal announcement from the San Clemente, Calif.-based real estate investment trust (REIT). CareTrust will install […]

CCRC Sees New Skilled Rehab Unit as Selling Point When Pitching to Baby Boomers

Several continuing care retirement communities (CCRCs) have been dropping or scaling back the skilled nursing care they provide, even though the full-service continuum of care forms a key selling point for their operators. There are numerous reasons. One is the role of government reimbursement in skilled nursing, as well as staffing issues — both were […]

Capital’s $12M Skilled Nursing Loan; Good Sam Sells Two in New Mexico

Capital Funding closed a $12.3 million refinance loan for a 105-bed skilled nursing facility in Baltimore through the Department of Housing and Urban Development’s (HUD) 223(f) program. The borrowers will use the proceeds in part to pay off debt on two other properties in their portfolio of SNFs, according to the Baltimore-based Capital Funding. The […]

Blueprint’s Four-Building Play in Boston, Georgia; Ascentria Grows in Mass.

Blueprint Healthcare Real Estate Advisors arranged the sale of four skilled nursing facilities with 400 beds on the East Coast, the Chicago-based brokerage announced last week. The four properties — three in greater Boston and one between Atlanta and Savannah, Ga. — had occupancy of 88% and annual revenues of $20 million at the time […]

Centers Sees Skilled Nursing Admissions Boost with ‘Concierge’ Conversions

A patient sent to a skilled nursing facility for rehabilitation usually comes from the hospital, but as the health care system changes, more and more patients will be making choices outside of the acute care setting. That includes decisions about rehab, and with that in mind, Centers Health Care recently launched a concierge rehab program […]