New Great Elm, Berkadia Finance Venture to Target Skilled Nursing

By Tim Regan Skilled nursing will be among the targeted investment areas of a new health care finance venture between Great Elm Capital Corp. and Berkadia. The venture, dubbed Great Elm Healthcare Finance, will target a variety of product types across the care continuum, ranging from independent living to skilled nursing and post-acute care. Though […]

Ensign Group Adds Two Texas SNFs; Berkadia $2B First Half

The Ensign Group Inc. (Nasdaq: ENSG) acquired Sedona Trace Health and Wellness, a 119-bed skilled nursing facility in Austin, Texas, and Cedar Pointe Health and Wellness Center, a 122-bed SNF in Cedar Park, Texas, earlier this month. Real estate for both facilities was purchased by CareTrust REIT, Inc. (Nasdaq: CTRE) in the deal as an […]

Greystone Closes $36.5M Deal; Dwight Capital Provides $8M HUD Loan for SNF

Greystone announced that it provided a $36,464,000 loan insured by the Department of Housing and Urban Development (HUD) for the financing of three skilled nursing facilities (SNFs) in North Carolina. The properties are located in Durham, Rutherfordton, and Pinehurst. Fred Levine originated the loans for New York City-based Greystone. The Durham location, Carver Living Center, […]

Berkadia Closes $40M in Skilled Nursing Deals; Ensign Expands Again in Texas

Skilled nursing heavyweight The Ensign Group (Nasdaq: ENSG) last week took over operations of the Hays Nursing and Rehabilitation Center, a 116-bed property in San Marcos, Texas. The deal expands the San Juan Capistrano, Calif.-based Ensign’s total portfolio to 228 properties across 13 states. “We are excited to strengthen our presence in the state of […]

Florida Nursing Home Sells in Bankruptcy Auction; $9.75M for Mississippi SNF

The Bluebonnet Point Wellness skilled nursing and rehabilitation center in Bullard, Texas, opened after nine years of planning and construction, The Tyler Morning Telegraph reported October 10. The facility includes 119 rooms, including 57 private rooms. The facility received a $1 million grant from the Texas Department of Agriculture for infrastructure assistance, a grant that […]

Berkadia’s $50M Skilled Nursing Summer; Cushman & Wakefield’s Portfolio Deal

Berkadia this week announced the completion of about $50 million in financing for skilled nursing facilities in four separate deals across the country. First up, the real estate investment firm’s Seniors Housing & Healthcare Group provided a $22.2 million loan — backed by the Department of Housing and Urban Development (HUD) — for a 157-bed […]

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 — […]

Berkadia’s $104M Nursing Home Financing; $11M Refi in New Jersey

Commercial real estate lender Berkadia landed a $104 million loan for a skilled nursing facility in the Bronx, N.Y., the company announced Monday. Berkadia secured the financing for the Workmen’s Circle Multicare Center, operated by the Woodbury, N.Y.-based Cassena Care, through the Department of Housing and Urban Development’s 232/233 program; the loan closed just 13 […]

South Florida Shuffle: Welltower Sells Building for $15.4M, Two-SNF Portfolio Nets $24 Million

Welltower Offloads Broward County SNF for $15.4M Welltower Inc. (NYSE: WELL) recently sold the Heartland of Tamarac skilled nursing facility for $15.4 million, the South Florida Business Journal reported. The real estate investment trust offloaded the building to 5901 Tamarac LLC, a company associated with Millennium Management of Miami, according to the publication. The facility […]

QCP-ManorCare Deal Could Signal Skilled Nursing Upheaval

When Quality Care Properties, Inc. (NYSE: QCP) announced an agreement to take over its troubled tenant HCR ManorCare late last week, it capped a long struggle between the landlord and the skilled nursing provider. The Bethesda, Md.-based QCP is expected to lose its status as a real estate investment trust (REIT) as a result of the deal, […]

Regional Will Rule in Skilled Nursing Transactions This Year

Low occupancy, political and regulatory uncertainty, staffing crunches, and reimbursement pressures present a fraught landscape for skilled nursing players to navigate. But companies that are looking to sell — or buy— will have plenty of opportunities in 2018. And as they seek each other out, localization will be a major force. “The skilled nursing business […]