Paragon Mortgage late last month announced the successful completion of a $16.3 million refinance loan for All Saints Healthcare in North Hollywood, Calif. The 128-bed skilled nursing facility now has permanent financing through the Department of Housing and Urban Development’s (HUD) 232/223 program, according to the Phoenix-based Paragon. All Saints provides skilled nursing care to […]
Category: Development & Renovation
After a disheartening experience working in nursing homes, former director of nursing Susan Ryan spent years working on initiatives designed to keep the elderly out of institutional care settings at all costs. But over time, she came to believe that there would always be a need for skilled nursing facilities to serve a specific portion […]
Developing new post-acute and long-term care infrastructure during normal times isn’t always easy — in fact, for one Illinois company, the phased opening of three new skilled nursing facilities this year represented the culmination of more than five years of work. But as COVID-19 continues to reveal the fatal shortcomings of outdated nursing home design, […]
COVID-19 has prompted the media and general public to consider the state of the standard nursing home more closely than ever, and many national outlets have turned to the Green House model as the prime example of the way forward. These “small-house” style developments eschew the traditional institutional nursing home structure for multiple cottages with […]
Walker & Dunlop last week announced the closure of $25 million in Department of Housing & Urban Development-backed financing for a skilled nursing and supportive living facility. The Bethesda, Md.-based real estate finance firm provided $10.7 million in financing for the 106-bed Landmark of Laurel Creek, a skilled nursing facility in Manchester, Ky. The property, […]
The COVID-19 crisis has broken the cracks in the nation’s long-term care infrastructure wide open, and one CEO in the space says it’s time for industry leaders and lawmakers to reimagine the model for the future. “We’re seeing it across the United States, across the world: The model is fundamentally broken,” OnPointe Healthh CEO Eric […]
When Renee Lohman, the founder and former CEO of the CareWell Urgent Care chain of clinics in Massachusetts, was seeking a new opportunity in health care, she didn’t have to look far past her own experience with a family member in a skilled nursing facility. “I was pretty well stunned by the 1970s physical plant,” […]
Securing state permission to build a skilled nursing facility in Oklahoma involves a lengthy certificate-of-need (CON) process — one that has to start months in advance. And because of that length of time, one operator finds itself launching new construction amid the COVID-19 pandemic. The Diakonos Group on May 14 announced the start of construction […]
In communities where the peak of the illness caused by the novel coronavirus hasn’t yet arrived, authorities should start designating specific skilled nursing facilities as specialized COVID-19 facilities to ease hospital capacity, according to a Wednesday essay in the journal Health Affairs. And as they look to make those designations, authorities should not wait on […]
The office of Massachusetts Gov. Charlie Baker on Monday announced several initiatives to combat the COVID-19 crisis in the Bay State — one of which includes setting up skilled nursing facilities dedicated to caring for patients who have the disease. The first of these facilities, Beaumont Rehabilitation and Skilled Nursing Center in Worcester, Mass., operated […]
Nursing home operators that have relied on government-backed financing for acquisitions and renovations can begin measuring time in two distinct eras: pre-Rosewood and post-Rosewood. The record-setting default on the Rosewood Care Centers portfolio, publicized in the New York Times, has prompted the Department of Housing and Urban Development (HUD) to take a harder line on […]
MONTICELLOAM, LLC and its affiliates this week announced the completion of a $32 million refinance for a 177-bed skilled nursing facility in Maryland. The New York City-based private real estate lender and asset manager, collectively known as Monticello, also provided a $2 million working capital loan through its asset-based lending arm, Monticello Commercial Capital, LLC. […]
Turning around a struggling nursing home is no easy task, and that task becomes more challenging when the skilled nursing facility’s struggles played out in national headlines. But for Philosophy Care Group, the challenges of taking over a troubled facility were mitigated by the presence of a strong staff — and by the knowledge that […]
Blueprint Healthcare Real Estate Advisors late last week announced the successful sale of a seven-building skilled nursing portfolio across Alabama. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint did indicate that the portfolio went to a long-term care provider with an existing footprint in the state. The new operators plan to capitalize […]
Ignite Medical Resorts, an Illinois-based operator of post-acute care facilities, continued its expansion push this week in a new partnership with Sabra Health Care REIT (Nasdaq: SBRA). Ignite formally took over management of three Sabra-owned properties in Oklahoma City, Bartlesville, and Norman, Okla. on New Year’s Day, the provider announced Thursday. The previous operator, Vision […]
For the skilled nursing profession, 2019 will be synonymous with the Patient-Driven Payment Model (PDPM), and the top stories of the year reflect the importance of this shift. But PDPM is one of many moving parts in the skilled nursing world, and operators, landlords, and regulators alike made splashes in ways that had nothing to […]
Despite a general lack of new construction in the skilled nursing space, one owner/operator stands out for building three brand-new skilled nursing facilities in the Chicagoland area. And when many companies are paring down staff and consolidating, Brad Haber, principal owner and operator at Innovative Health, LLC, is midway through spearheading three SNF construction projects […]
Blueprint Healthcare Real Estate arranged the sale of a vacant 150-bed skilled nursing facility in Southeast Ohio. The Chicago-based brokerage worked with a real estate investment trust (REIT) owner and its national skilled operator tenant, which was looking to exit the state. The property was designated a Special Focus Facility, the federal government’s list of […]
Among properties in the senior housing and care space, skilled nursing facilities tend to be the oldest, with new construction largely constrained to higher-end rehab facilities — sometimes called “medical resorts.” While rehab continues to drive new development in the nursing home space, Skilled Nursing News found a variety of unique projects across the country, […]
Berkadia announced its involvement in a $76.8 million portfolio deal that saw a nursing facility operator take ownership of nine buildings it had leased since 2004. The New York City-based lender’s Seniors Housing & Healthcare Group extended the financing for an affiliate of an unnamed Tennessee-based owner-operator of skilled nursing facilities. The nine properties — […]