MED Healthcare’s $28.5M Portfolio Pickup; 444-Bed Lease in St. Louis

Regional Health Properties, Inc. (NYSE American: RHE) this week announced an agreement to sell four skilled nursing properties to MED Healthcare Partners, LLC, for a total of $28.5 million. The 500-bed portfolio consists of Attalla Health & Rehab in Attalla, Ala.; Healthcare at College Park in College Park, Ga.; Northwest Nursing Center in Oklahoma City; […]

$7M SNF Pitched in Indiana; New York Investor Buys Ohio Facility

Long Term Care Investments VI is pitching a $7 million skilled nursing facility in Merrillville, Indiana, the Times of Northwest Indiana reported. The development would include five residential buildings, each with 12 beds, a dining area, a spa and a beauty salon; 12 of the units in the development would be designated for dementia patients. […]

Dwight Capital Closes Multiple Skilled Nursing Deals in March; SNF/IRF Combo Rises in Arizona

Dwight Capital, a commercial real estate finance firm based in New York, closed several transactions for skilled nursing facilities in the month of March. These included a $3.3 million bridge loan for the 82-bed Victory Health and Rehabilitation Center in Minneapolis, which was bought from a health care real estate investment trust (REIT), and a […]

Summit REIT Acquires 14 Facilities in $125M Deal; Good Sam Divests Three SNFs in Wisconsin

Summit Healthcare REIT, Inc. acquired an interest in 14 skilled nursing and assisted living facilities in Indiana for $125 million, with plans to lease them back to the seller on a triple-net basis. The acquisition, announced Wednesday, was made through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding […]

Pennsylvania SNF Sells for $20.9M; Strawberry Fields’ $21M Kentucky Play

The property associated with the Sanatoga Center skilled nursing and rehabilitation facility in Sanatoga, Penn., sold for more than $20.9 million, The Santoga Post reported Wednesday. The deal closed on Jan. 28. The property was previously owned by DELM Nursing Inc. of Kennett Square, Pa.; it was sold to a company called Santoga RE, according […]

CareTrust’s $43.9M Deal in California; Invesque’s $70M Portfolio Sale in Georgia

CareTrust REIT (Nasdaq: CTRE) this week announced the $49.3 million acquisition of four skilled nursing facilities in California operated by Covenant Care, Inc. The 503-bed portfolio comes to the San Clemente, Calif.-based real estate investment trust (REIT) through a sale-leaseback arrangement, with initial annual cash lease payments of $4 million and a 15-year term. The […]

Capital’s $12M Skilled Nursing Loan; Good Sam Sells Two in New Mexico

Capital Funding closed a $12.3 million refinance loan for a 105-bed skilled nursing facility in Baltimore through the Department of Housing and Urban Development’s (HUD) 223(f) program. The borrowers will use the proceeds in part to pay off debt on two other properties in their portfolio of SNFs, according to the Baltimore-based Capital Funding. The […]

Blueprint’s Four-Building Play in Boston, Georgia; Ascentria Grows in Mass.

Blueprint Healthcare Real Estate Advisors arranged the sale of four skilled nursing facilities with 400 beds on the East Coast, the Chicago-based brokerage announced last week. The four properties — three in greater Boston and one between Atlanta and Savannah, Ga. — had occupancy of 88% and annual revenues of $20 million at the time […]

Three-SNF Sale in Tennessee; Athena Health Care Systems Buys Connecticut SNF

Benedictine Health System Buys Nursing Home It Operates in Minnesota The ownership transfer of Benedictine Living Community, a nursing home in St. Peter, Minn., to Benedictine Health System was finalized by the City Council last week, The Mankato Free Press reported Tuesday. The move also terminated the old lease for the property. Benedictine Health System […]

County SNF Expands Services to Survive; REIT Snaps Up West Virginia Building

Birchwood Sells West Virginia SNF/ALF to Public REIT Blueprint Healthcare Real Estate Advisors announced the sale of a skilled nursing and assisted living facility, Madison Park Healthcare in Huntington, W.V., to a public real estate investment trust (REIT). Blueprint arranged the sale for the seller, Birchwood Healthcare Partners, which focuses on seniors housing and nursing […]

Greystone’s $24M Deal in the Bronx; SNF-to-Behavioral Conversion in Mass.

Greystone Lands Nearly $24M Loan for Bronx Building Lending and advisory firm Greystone originated a $23.9 million loan to refinance the 200-bed Eastchester Rehab & Health Care Center in the Bronx, N.Y. The transaction represents a permanent financing of the property through the Federal Housing Administration, with a 30-year term. Eastchester Realty Associates will use […]

Wave of PDPM Sell-Offs Has Already Begun in Skilled Nursing

With the Patient-Driven Payment Model (PDPM) looming in 2019, some skilled nursing facilities have already decided to make their exit rather than deal with the challenges of the new Medicare payment system. “I know of a number of buildings in northern California that have already started to transition,” Mark Lamb, the chief investment officer at […]

Long-Term Optimism Boosting Skilled Bed Prices Despite Low Occupancy

Investment in skilled nursing facilities hasn’t slowed down despite persistent dark clouds surrounding the industry’s outlook. One of the overarching themes this past conference season — including at the summits held by the American Health Care Association (AHCA) and the National Investment Center for Seniors Housing & Care (NIC) — is that there’s an ongoing […]

Diversicare Divests Three Kentucky Properties; Greystone’s $20.9M HUD Financing

Diversicare To Sell Three Kentucky Facilities for $18.7M Executives with the operator Diversicare Healthcare Services Inc. (Nasdaq: DVCR) signed an agreement to sell three Kentucky properties for a combined $18.7 million, Nashville Post reported. The sales are expected to close in the fourth quarter, and will cut Diversicare’s footprint in the state to 10 facilities. The […]

Bankrupt Preferred Care Offloads Two SNFs; $5.3M Expansion in Nebraska

Preferred Care Selling Two Santa Fe Nursing Homes Preferred Care, which declared bankruptcy in November of last year, is selling two nursing homes in the Santa Fe, N.M. area, the Santa Fe New Mexican reported. Genesis HealthCare (NYSE: GEN), based in Kennett Square, Pa., is acquiring the Casa Real nursing home; the major nationwide provider […]

Legacy Buys $5M Building in Illinois; Former Skyline Facility to Sell Soon

Legacy Healthcare Buys Elgin, Ill., SNF for $5M, Plans Millions in Renovations Legacy Healthcare purchased the Advocate Sherman West Court skilled rehabilitation and nursing facility in Elgin, Ill., and plans to invest $2 million in renovations, The Daily Herald reported. Most or all of the 75 staff members are expected to keep their jobs. The renovations […]

Reliant’s $88M Portfolio Play; $28M HUD Loan for Illinois Facility

Reliant Named as Seller, Operator in $88M Griffin Deal Affiliates of Reliant Care Management Group sold a portfolio of eight skilled nursing facilities in Missouri to Griffin-American Healthcare REIT IV, Inc., and will stay on as operators going forward. Griffin-American first announced the $88.2 million deal in June, with the deal closing during the first week […]

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 […]

Turnaround Properties Draw Interest in Midwest; $4.7M Skilled Nursing Sale in NC

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’s $157M Run of Skilled Nursing Loans; Alumni-Run CCRC Changes Hands in Texas

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 […]