White Oak’s $241M Portfolio Deal; KeyBank’s $88M FHA Financing

White Oak Healthcare Finance on Tuesday announced its role in funding a $241 million senior credit facility for a group of 19 skilled nursing facilities. The portfolio consists of more than 2,000 beds across six states: Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. A spokesperson for White Oak, a San Francisco-based lender, confirmed […]

Two Arkansas Skilled Nursing Facilities Enter Receivership as State Monitors Three Others

The state of Arkansas on Monday moved to put two skilled nursing facilities in receivership, pointing to an emergency situation that “threatens the health, safety, security, and welfare of the residents” in at least one of the facilities, according to court documents. The Arkansas Department of Human Services (DHS) filed complaints in Yell County and […]

Best Buy, Amazon, Walmart Lead Major Retailers’ Charge into Senior Care — With Multi-Billion Potential

While they don’t yet represent a direct threat to traditional skilled nursing providers, several marquee retail brands have made significant bets on the senior care space as the population ages — with a specific focus on keeping seniors healthy and out of institutional settings. Electronics retailer Best Buy’s (NYSE: BBY) recent moves into the senior […]

Berkadia’s $76.8M Skilled Nursing Portfolio Deal; Wingate Hands Off Three to Vero

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 — […]

Skilled Nursing Operator Sees Financial Upside, Potential for Innovation in Assisted Living

Skilled nursing and senior living can seem worlds apart, with the former associated with health care and the latter with hotel-style touches like bistro dining and concierge serves. But one operator of skilled nursing facilities sees moving into assisted living as the best way to prepare for the future of both models. The Minneapolis-based Health […]

Senior Housing Properties Trust Offloads 15 Skilled Nursing Facilities for $8M

Senior Housing Properties Trust (Nasdaq: SNH) on Monday completed the first wave of a planned $900 million property sell-off that will see the real estate investment trust (REIT) eliminate all standalone skilled nursing assets from its portfolio. The Newton, Mass.-based firm announced the sale of a 15-building skilled nursing portfolio in Nebraska, Iowa, and Kansas […]

HUD Boosts Focus on Star Ratings, Care for Skilled Nursing Loans — Though Demand Remains Strong

The Department of Housing and Urban Development’s (HUD) lending program for skilled nursing facilities grabbed some negative headlines earlier this year, but a key financial player in the space says that demand for the products remains strong — though the government has placed increasing focus on star ratings and care quality when underwriting deals. “The […]

SEC Sues Investor at Center of Record Nursing Home Loan Default for Fraud

The Securities and Exchange Commission (SEC) this week filed a lawsuit against the Chicago-area businessman at the center of a record-setting nursing home loan default, accusing the man and his company of defrauding investors and misappropriating funds. The SEC alleged that Zvi Feiner, a nursing home owner and Orthodox rabbi, raised money from various investors […]

$41.4M Skilled Nursing Development Grows in Florida; $6M Sale in Maryland

Propero Seniors Housing Equity Fund III, LLC partnered with Tender Loving Care (TLC) Management for a $41.4 million development in Florida. The 170-unit Cortez Oaks Health and Rehabilitation in Brooksville, Fla. will feature 109 skilled nursing beds, along with 41 assisted living units and 20 memory care, according to a release from lender Lancaster Pollard. […]

Skilled Nursing, Post-Acute Providers Must Embrace ‘Death of Dogma’ to Survive Shift to Episodic Care

As payers and hospital networks increasingly treat skilled nursing facilities as just one stop along an overall episode of care, operators in the space have received a variety of messages about how to survive: Bring data, get to know referral partners’ problems, demonstrate your worth. But a leader at a major Philadelphia-area hospital network took […]

Siena Lending Group Eyes Skilled Nursing Business with New Health Care Division

Siena Lending Group earlier this month launched a health care finance practice that its leaders say will have a significant focus on the skilled nursing industry. The asset-based lender established Siena Healthcare Finance to serve a variety of players in the space, including hospitals, home health agencies, hospice companies, and institutional pharmacies. But given the […]

Balancing Risks, Rewards of Targeting Higher-Acuity Residents in Skilled Nursing

Over recent years, as length of stay and reimbursement have declined in the skilled nursing space, one trend has risen steadily: the acuity of the patient population. It’s a trend that multiple executives in the skilled nursing field have observed, particularly as the industry prepares to pivot toward the new Patient-Driven Payment Model. But it’s […]

Omega CEO Pickett: Medicaid-Focused Model Can Work in Skilled Nursing

With capital chasing upside and new development dominated by high-end “medical resorts,” the availability of long-term care beds has emerged as a big-picture issue for the skilled nursing industry. While it may not be a nationwide problem just yet, certain markets — from Wisconsin to California — have begun to show the early signs of […]

Meridian’s $241M Portfolio Deal in the Northeast; Optalis Healthcare Adds Five SNFs in Michigan

Meridian Capital Group this week announced its involvement in a 19-building skilled nursing portfolio deal that saw the New York City-based finance and investment firm provide $241 million in acquisition financing. The portfolio has a total of 2,175 beds, with locations in Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. Meridian’s managing directors, Ari […]

Skilled Nursing Operators Shouldn’t Count on Investors to Share PDPM Optimism

With just two weeks to go before the new payment model for nursing homes takes effect, operators that have prepared for the changes could be expecting a significant boost in their Medicare reimbursements. But providers shouldn’t necessarily expect their investors to share in their optimism over the Patient-Driven Payment Model (PDPM). Over the course of […]

Regional Health Properties Completes 4-SNF Sale for $28.5M; $60M Project Wraps in N.Y.

Regional Health Properties (NYSE: RHE) successfully completed the sale of four skilled nursing facilities in Alabama, Georgia, and Oklahoma for $28.5 million, Blueprint Health Care Real Estate Advisors announced last week. The deal, originally announced last month, initially consisted of three properties for $26.1 million; closing on the fourth property had been extended to late […]

Formation Focuses on Strategic Skilled Nursing Sales as Capital Continues to Drive Demand, Prices

Formation Capital remains a heavyweight in the private investment space for senior housing and care, but its CEO says that its skilled nursing tastes have become more opportunistic as capital continues to aggressively chase available properties. The Atlanta-based Formation this past spring sold off a 12-property skilled nursing portfolio in Virginia and Pennsylvania, and CEO […]