The Atlanta-based SunTrust Banks (NYSE: STI) last week announced a nationwide expansion of its Aging Services/Senior Living Practice group, with an eye on the emerging trends in the skilled nursing space. First launched on a regional basis in the Southeast about four years ago, the senior-specific group has seen the increasing regionalization of the skilled […]
Carnegie Capital Secures $24M Bridge Loan for Long Island Facility Carnegie Capital, based in Austin, Texas, sourced and structured a $24 million bridge loan to refinance the existing note on a skilled nursing and assisted living facility on Long Island, N.Y. The deal helped restructure the facility’s operating debt and rehabilitate the upper level. The […]
Developer Hits Milestone on $60M SNF in White Plains, N.Y. The Congress Companies, based in Massachusetts, is building a $60 million, 160-bed skilled nursing facility in White Plains, N.Y., and celebrated a topping-off ceremony on June 12, the Westchester County Business Journal reported. The construction of the White Plains Institute for Healthcare & Rehabilitation is being led […]
Long-term health care is an inherently local service, and in that context, it’s not surprising that the cost of investing in a skilled nursing facility — as measured on a per-bed price basis — varies wildly from state to state and region by region. But another factor is timing, according to Ben and Brandon Bohland, […]
Outcome Health Group Buys Maryland LTC Facility The University of Maryland Shore Nursing and Rehabilitation Center at Chestertown, a long-term care (LTC) and rehabilitation facility, changed hands effective June 1, The Kent County News reported. Outcome Health Group purchased the facility, which used to be part of the University of Maryland Shore Regional Health network […]
Griffin-American Healthcare REIT IV, Inc. announced an agreement to buy a portfolio of eight skilled nursing facilities in Missouri for $88.2 million. The portfolio includes facilities in Kansas City, Salisbury, Florissant, Sedalia, Milan, Trenton, Moberly, and St. Elizabeth, Mo., with a total of 1,112 licensed beds. The SNFs offer skilled nursing, residential care and other ancillary […]
Quality Care Properties (NYSE: QCP) may have found a more attractive suitor than its current potential buyers. The Bethesda, Md.-based real estate investment trust (REIT) on Tuesday announced that it had received a potentially better takeover offer than the one currently on the table from fellow REIT Welltower Inc. (NYSE: WELL) and non-profit hospital system […]
Liberty Village of Rochelle to Hold Groundbreaking for New Facility Liberty Village of Rochelle in Illinois will hold a groundbreaking ceremony for its new Manor Court Skilled Nursing and Rehabilitation Center on June 20, the Rochelle News-Leader reported. The skilled nursing facility is planned for 64,000 square feet and 92 beds, and is scheduled to open […]
Ensign Group Acquires Arizona SNF The Ensign Group (Nasdaq: ENSG) acquired the operations of Sun West Choice Healthcare and Rehabilitation, a 140-bed skilled nursing facility in Sun City West, Ariz. The Mission Viejo, Calif.-based provider has a long-term lease on the facility, which was effective June 1, and the deal brings the number of skilled nursing […]
Welltower Inc. (NYSE: WELL) CEO Tom DeRosa on Wednesday offered a spirited defense of his company’s recent skilled nursing mega-deal, saying the transaction will help save HCR ManorCare from its former private equity owners. “These are very good assets — great real estate that’s been run by a very effective management team with one hand […]
Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced the sale of 20 total buildings as its so-called “Genesis Exodus” nears completion. The Irvine, Calif.-based real estate investment trust (REIT) closed on the sale of 12 more properties operated by Genesis Healthcare (NYSE: GEN) last Friday, with a total price tag of $134 million. That […]
Blueprint Announces Five-SNF Portfolio Lease in North Carolina Blueprint Healthcare Real Estate Advisors announced the portfolio lease of five North Carolina skilled nursing facilities with a total of 638 beds. The owner was looking to diversify its risk through sale or a new lease to a third-party tenant. Blueprint identified an owner-operator that saw the […]
Carnegie Capital Secures $12M Loan to Refinance Skilled Nursing Facility Carnegie Capital, a commercial real estate finance and advisory firm based in Austin, Texas, sourced and structured a $12 million loan to refinance the existing note on a 115-bed skilled nursing facility and free up additional proceeds to upgrade the building. The loan will also be used […]
As occupancy declines, managed care grows, and payment models change, larger skilled nursing portfolio deals are cropping up in the mergers and acquisitions landscape. Skilled nursing players are taking notice. “We also continue to see opportunities involving several larger well-known portfolios of skilled nursing assets, and we expect to participate in the marketing process with […]
Temporary oversight of eight former Skyline Healthcare skilled nursing facilities in Pennsylvania has come to an end. The administration of Gov. Tom Wolf last Friday announced that the eight facilities had been sold to new owners, consisting primarily of private investors. “The Wolf administration would like to thank the employees, contractors, and others who have […]
Blueprint Health Care Announces Two-SNF Deal in Florida The Chicago-based Blueprint Health Care Real Estate Advisors assisted a publicly traded real estate investment trust (REIT) in selling two non-core assets in DeLand, Fla.: University Center East and University Center West. One of the skilled nursing facilities had been flagged as a Special Focus Facility by […]
County Nursing Home Sells for $11M Local lawmakers last week approved the sale of the Champaign County Nursing Home in Urbana, Ill. to a joint venture between Extended Care Clinical and Altitude Health Services. The sale price was $11 million, according to local news station WCIA, and the transaction is scheduled for completion by the […]
KeyBank Real Estate Capital secured $127 million in Federal Housing Administration (FHA) 232/223(f) financing for a Manhattan skilled nursing facility. It was the largest single-asset financing ever insured by the U.S. Department of Housing and Urban Development (HUD) in the FHA 232 program, which helps finance nursing homes, assisted living facilities and board and care facilities. The loan proceeds […]
Welltower, Inc. (NYSE: WELL) on Monday provided a brief update to shareholders on the company’s coming acquisition of Quality Care Properties (NYSE: QCP), the real estate investment trust (REIT) primarily associated with struggling skilled nursing provider HCR ManorCare. The update, submitted as a filing with the Securities and Exchange Commission, affirms Welltower’s commitment to ProMedica, […]
Greystone Healthcare Management Announces New $30M Facility in Miami Greystone Healthcare Management announced the opening of a skilled nursing facility in Miami this fall. The center will feature various medical services and specialized orthopedic, cardiac, and stroke rehabilitation programs. Greystone, which manages 28 facilities in Florida, invested $30 million into the 150-bed Kendall Lakes Health and […]
By continuing to use the site, you agree to the use of cookies. More Information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. For more information, see our cookie policy.
