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 […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
The cost to build a new skilled nursing facility crept up by a little under 3% from last summer amid tariffs and other pressures. A typical mid-level skilled nursing facility will cost between $207 and $242 per square foot to build new, according to the winter 2019 senior living construction report from Iowa-based general contractor […]
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 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 […]
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 […]
National Health Investors (NYSE: NHI) has made multiple pushes into skilled nursing as the calendar shifted from 2018 to 2019, with a specific eye toward higher-end rehab — and new construction. Before announcing its $50.3 million pickup of a Massachusetts senior housing complex with 164 skilled nursing beds this week, the real estate investment trust […]
Building a new skilled nursing facility from the ground up poses some challenges in an industry with ultra-thin margins. But for Plum Healthcare Group in California, it’s an opportunity to address the needs of its current patients, in a way that an older building doesn’t allow. That’s especially true given that the average age of […]
While remaining relatively mum on the status of his company’s major skilled nursing play, Welltower Inc. (NYSE: WELL) CEO Tom DeRosa this week presented a vision of the future in which health care assets replace retail as the cornerstone of real estate development. “For generations, we thought of anchors as retail — it’s retail that […]
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