Maryland Skilled Nursing Building Sells for $17.25M; $27M LTAC Approved in Missouri

Maryland Facility Sells for $17.25M Marcus & Millichap’s Knapp Group Seniors Housing Advisors facilitated the sale of a 145-bed skilled nursing facility in Burtonsville, Md., for $17.25 million. After facing increased management challenges, the not-for-profit Michigan-based owners sold the 62,500 square-foot facility to a Maryland-based LLC that owns and operates several SNFs. Jim Knapp and Joseph […]

Sabra, LTC: Skilled Nursing Market Has Hit ‘Trough,’ Slow Occupancy Growth Ahead

Multiple players across the skilled nursing industry have offered predictions as to when slumping occupancy figures will bottom out, and two prominent voices earlier this month declared that the bottom may be upon us. “I think we’re probably at around the trough,” Sabra Health Care REIT (Nasdaq: SBRA) chief investment officer Talya Nevo-Hacohen said during […]

Tryko Adds ManorCare Building in New Jersey; Sale-Leaseback in Chicago

Interra Brokers $6M Sale-Leaseback of SNF in Chicago’s West Loop Interra Realty brokered the sale-leaseback of Chicago skilled nursing facility Monroe Pavilion, located in the city’s West Loop, for $6 million, REBusinessOnline reported. The buyer, JK Equities, was represented by David Goss and Lucas Fryman of Interra. The seller, Symphony Post Acute Network, was represented by Jon […]

HIG Capital Acquires Therapy Provider Reliant Rehabilitation Holdings

An affiliate of the private equity firm H.I.G. Capital acquired Reliant Rehabilitation Holdings, Inc., which provides therapy services to more than 800 skilled nursing facilities in 40 states. “We’re excited to partner with H.I.G. for the next phase of Reliant’s growth,” Reliant CEO Chris Bird said in a press release announcing the acquisition. “H.I.G.’s healthcare knowledge […]

USDA Approves $34M Loan for New Skilled Nursing Facility in PA

A new skilled nursing facility in College Township, Pa. received a direct loan commitment of $34 million from an interesting partner: the U.S. Department of Agriculture (USDA). The USDA approved the commitment for the new Centre Care Health Center, which will be operated by the non-profit Centre Care and replace the existing Centre Crest facility […]

CareTrust Grows in Silicon Valley; SLIB Arranges Three Skilled Nursing Deals

CareTrust Picks Up Former Non-Profit CareTrust REIT (Nasdaq: CTRE) last week announced the purchase of the Villas at Saratoga, a senior living community with 85 skilled nursing beds and 37 assisted living units in Saratoga, Calif. — a city to the southwest of San Jose. CareTrust will invest about $19 million in the property, including […]

Strawberry Fields Sees Skilled Nursing Opportunity in $37M Skyline Portfolio

Strawberry Fields REIT LLC acquired nine skilled nursing facilities in Arkansas from the Skyline Group and, in a separate deal, one facility in Kentucky — for a combined purchase price of $42.4 million for the 10 facilities. The South Bend-based Strawberry Fields, a real estate investment trust (REIT) that specializing in nursing homes and other […]

SNF Converts to 18-and-Up Assisted Living; Cornerstone Signs Lease in Kansas

Virginia SNF Gets Second Life as Assisted Living Facility The Lovingston Health and Rehabilitation Center in Lovingston, Va., was converted into an assisted living center — The Town Creek Assisted Living Center — according to The Daily Progress. The conversion was made by the Region Ten Community Services Board, which provides behavioral health and developmental services throughout central […]

Dialyze Direct Acquires Affiliated Dialysis Centers to Become Largest SNF-Focused Provider

Dialyze Direct, LLC, acquired Affiliated Dialysis Centers in a deal expected to close by December 31, subject to customary closing conditions. The acquisition would make Dialyze Direct the largest home hemodialysis provider for skilled nursing facilities in the U.S., according to the company. The terms of the deal were not disclosed. Medicare reimburses for dialysis […]

Genesis Opens Pennsylvania Rehab Location; PruittHealth to Develop in North Carolina

Genesis Opens Short-Term Rehab Center in Exton, Pennsylvania Genesis Healthcare (NYSE: GEN) opened its 12th PowerBack Rehabilitation location in Exton, Penn., The Daily Local News reported. The 85,000 square-foot Exton center includes a rehabilitation gym and 120 private suites. It is expected to employ approximately 300 people, according to the publication. The PowerBack Rehabilitation service […]

Eduro Healthcare Eyes Skilled Nursing Expansion with CareTrust

As the skilled nursing industry moves away from large national operators, smaller regional providers are stepping up to fill the void — often in markets that fly under the radar of other investors. One of those players in recent years has been Eduro Healthcare, a Salt Lake City-based operator that launched in 2008 with a […]

$65M Skilled Nursing Facility Planned for California; $30M Vets Center Gets Grant

 Whittier Health Network Completes 123-Bed SNF in Massachusetts Nauset Construction announced the completion of the 123-bed Port Healthcare Center, a skilled nursing facility owned and operated by Whittier Health Network in Newburyport, Mass. The project’s completion was first reported by Boston Real Estate Times. The 62,000 square-foot replacement facility was completed in fall of 2017, with site […]

Per-Bed Prices for Skilled Nursing Facilities Fall in Second Quarter

The skilled nursing sector saw yet another downward trend in the second quarter, this time in the price-per-bed metric as measured by data from the National Investment Center for Seniors Housing & Care (NIC). For the second quarter of this year, the price per bed for skilled nursing facilities sat at $84,200. Though the price […]

Sanford, Fresh Off Good Samaritan Merger, Eyes $1B Chicago Health System

Non-profit hospital system Sanford Health is on track to complete a merger with a skilled nursing provider by fall, and a recent report hints that the operator isn’t done expanding. The Sioux Falls, S.D.-based Sanford could soon announce a merger with a $1 billion health system based in Chicago, CEO Kelby Krabbenhoft teased to SiouxFalls.Business. […]

Arkansas Vets Home Gets $1.8M Boost; New Beds Gain Approval in Florida

Arkansas Veterans Home Receives $1.8M Subsidy After operating at a deficit for more than a year and a half, an Arkansas skilled nursing facility for veterans finally received a $1.8 million boost. Legislators last week approved a call from the governor to send the funds to the Arkansas State Veterans Home in North Little Rock, […]

PDPM Piles the Pressure on Smaller Skilled Nursing Operators

The new skilled nursing payment model has received mostly praise from the industry since its finalization in late July, but it could have the side effect of leading more mom-and-pop SNFs to exit the space altogether. It’s important to note, however, that it’s not the only reason they’re leaving. “While PDPM is a big factor […]

AHI’s Prosky on Skilled Nursing Optimism, M&A Strategies

Danny Prosky, one of the co-founders of American Healthcare Investors, Inc., has spent more than 20 years in the field of health care real estate investment — and he remains upbeat about the future of skilled nursing. Skilled Nursing News spoke to Prosky about the state of skilled nursing industry in his capacity as managing […]

Arizona Skilled Nursing Facility with Behavioral Health Focus Sells for $15M

The 211-bed Avalon Southwest Health & Rehabilitation in Tuscon, Ariz., was recently sold for $15 million, or $71,000 per bed. The SNF was owned by a group of investors in San Francisco, who leased it to Avalon Health Care. These investors sold the facility to a Chicago-based owner-operator with roughly half a dozen facilities in Missouri […]

REIT Sell-Offs Drive HUD Lending in Skilled Nursing Space

The summer months have brought millions of dollars in skilled nursing refinancings and loans insured by the federal government. And though the overall activity level for loans from the Department of Housing and Urban Development (HUD) is roughly on par with the past few years, the ongoing regionalization in the space is a driver of much […]