SentosaCare Takes Over Virginia Nursing Home The former Avante Nursing Home in Waynesboro, Va., is now owned by Webster, N.Y.-based SentosaCare, as of June 1, The News Virginian reported on August 18. The change in ownership came as part of a 10-facility Avante sale announced earlier this year, John Harnack, vice president of human resources for The Avante […]
Big-picture concerns about the skilled nursing industry haven’t slowed down transaction volume in the space, with nursing homes accounting for 55% of all deals in a second quarter that saw $6.3 billion in senior housing and care investments. The major real estate investment trusts (REITs) certainly played a role in that strong quarter, with multiple […]
Amid difficult trends at home, a handful of U.S. long-term care operators have looked to Asia as their next potential frontier – and while their strategies differ, they all believe in the region’s potential. “We really like the demographic trends for senior living in Asia,” Nate McLemore, managing director for international health care at developer […]
Blueprint Turns Two in Ohio, Wisconsin Blueprint Healthcare Real Estate Advisors recently announced a pair of deals in the Midwest on behalf of major publicly traded real estate investment trusts (REITs). The 96-bed Pine Valley Care Center in Richfield, Ohio has a new owner-operator, according to the Chicago-based brokerage. Once a recipient of the coveted […]
HHC Lands $157M in Loans Since June Housing and Healthcare Finance this week announced a group of eight loans closed over the past two months, totaling $157 million for multiple skilled nursing facilities around the country. The Bethesda, Md.-based lender’s recent roster includes a $100 million bridge loan for an eight-facility portfolio in Pennsylvania, a […]
Blueprint Announces SNF sales in Arkansas, Pennsylvania Blueprint Healthcare Real Estate Advisors announced two separate sales of skilled nursing facilities, one in Pennsylvania and the other in Arkansas. The sale of Fairview Care Center of Bethlehem Pike, a 176-bed SNF in Philadelphia, was related to a recent eight-property portfolio sale in the same area, with […]
National Health Investors (NYSE: NHI) executives said this week that oversupply is putting pressure on private-pay senior living operators, but the health care real estate investment trust (REIT) continues to see additional opportunity in skilled nursing. The Murfreesboro, Tenn.-based REIT reported second-quarter 2018 revenues of $72.96 million, which missed analysts’ expectations by $0.74 million. Its second-quarter […]
GMF Capital Buys Former Sabra SNF for $6M GMF Capital purchased Woodland Hill Center, a 100-bed skilled nursing facility in Asheboro, N.C., for $5.95 million, the Triad Business Journal reported. The facility was bought from Sabra North Carolina LP of Irvine, Calif., a subsidiary of Sabra Health Care REIT (Nasdaq: SBRA). The sale was part of an overall […]
A portfolio of nine skilled nursing facilities, scattered over eight states, sold for $82 million, according to Blueprint Healthcare Real Estate Advisors, an investment advisory firm that specializes in senior housing and health care real estate deals. The portfolio consists of 981 licensed beds, with assets in California, Colorado, Idaho, North Carolina, New Mexico, Rhode Island, […]
Leaders at two major real estate investment trusts (REITs) focused on health care assets have predicted a coming wave of mergers-and-acquisitions volume as smaller providers refuse to adapt to new skilled nursing payment rules. As mom-and-pop operators begin to unpack the changes associated with the Patient-Driven Payment Model (PDPM) — the new set of therapy […]
CareTrust REIT (Nasdaq: CTRE) had a relatively light second quarter for transactions, but the San Clemente, Calif.-based real estate investment trust (REIT) expects to be off the sidelines soon, according to executives on its quarterly earnings call. “Although it was an uncharacteristically quiet quarter for us on the acquisition front, Q2 was one of our […]
$25M Facility Grows in Florida Greystone Healthcare Management announced the development of a 120-bed skilled nursing facility in Lakeland, Fla., with a target opening date in late 2020. The $25 million project will bring skilled services to the Lake Gibson Village assisted and independent living community, with the goal of creating a “health care resort” […]
Griffin-American Healthcare REIT IV Inc. agreed to purchase a 24-facility portfolio consisting of 23 skilled nursing facilities and one assisted living facility for $78.5 million, plus closing costs. The DI Wire first reported on the deal, which Griffin-American entered on July 24. Griffin-American is a publicly registered, non-traded real estate investment trust (REIT) sponsored by American […]
Preferred Care Inc., which filed for bankruptcy in November of last year, has transferred its 21 skilled nursing facilities in Kentucky to Sapphire Care Group, The Wall Street Journal reported Monday. Thirty-three of the Plano, Texas-based Preferred Care’s facilities filed for Chapter 11 bankruptcy protection last year in the face of 163 personal injury lawsuits. […]
Lancaster Pollard served as the syndication agent on a $400 million refinance of a credit facility for California-based skilled nursing operator Plum Healthcare Group, marking the latest in a string of big-dollar skilled nursing facility portfolio refinancings. Credit Suisse served as the lender for the transaction, working with the Columbus, Ohio-based Lancaster Pollard to design the […]
More than halfway through 2018, the skilled nursing transactions landscape has mostly met expectations, but there have been more than a few surprises along the way. The recent deal between Welltower Inc. (NYSE: WELL) and the nonprofit ProMedica Health Systems to take over national operator HCR ManorCare made a splash in the skilled nursing sector when […]
Greystone Provides $20.6M Refi to Staten Island SNF Greystone provided a $20.66 million permanent loan insured by the Department of Housing and Urban Development (HUD) to refinance the 238-bed Golden Gate Rehabilitation & Health Care Center in Staten Island, N.Y. The permanent Federal Housing Administration (FHA) financing for the skilled nursing facility carries a 35-year term and […]
The ink isn’t quite dry on Welltower Inc.’s (NYSE: WELL) major skilled nursing play, but the real estate investment trust (REIT) is already attracting interest from hospital systems that want to join in its new post-acute care plans. That’s at least according to CEO Tom DeRosa, who hinted on his company’s Friday morning quarterly earnings […]
Just one day after shareholders approved Welltower Inc.’s (NYSE: WELL) acquisition of Quality Care Properties (NYSE: QCP), the rest of the megadeal dominoes fell late Thursday. The Toledo, Ohio-based real estate investment trust (REIT) announced that it had closed on its joint-venture purchase of QCP’s real estate with non-profit hospital system ProMedica. In the same […]
Centers Health Care’s recent skilled nursing acquisition in Missouri didn’t follow the same pattern as the Bronx, N.Y.-based operator’s growth in the Northeast, but that’s all part of its approach to acquisitions. Last month, the provider acquired three former Serenity Care Group locations in the Kansas City, Mo. market last month, marking the company’s first move into the […]
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