$41.4M Skilled Nursing Development Grows in Florida; $6M Sale in Maryland

Propero Seniors Housing Equity Fund III, LLC partnered with Tender Loving Care (TLC) Management for a $41.4 million development in Florida. The 170-unit Cortez Oaks Health and Rehabilitation in Brooksville, Fla. will feature 109 skilled nursing beds, along with 41 assisted living units and 20 memory care, according to a release from lender Lancaster Pollard. […]

Meridian’s $241M Portfolio Deal in the Northeast; Optalis Healthcare Adds Five SNFs in Michigan

Meridian Capital Group this week announced its involvement in a 19-building skilled nursing portfolio deal that saw the New York City-based finance and investment firm provide $241 million in acquisition financing. The portfolio has a total of 2,175 beds, with locations in Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. Meridian’s managing directors, Ari […]

Skilled Nursing Sell-Off in Texas Goes Beyond Payment: ‘The Problem is Not the Medicaid Rate’

Texas’s failure to pass a program to increase Medicaid payment to skilled nursing facilities was the latest step not taken in improving the reimbursement in the Lone Star State. The legislation, which would have set up a long-term care quality provider participation program (QPPP) to funnel additional compensation to SNFs for meeting certain quality metrics, […]

Good Sam Sells Three More Skilled Nursing Facilities in Illinois, Iowa

The Evangelical Lutheran Good Samaritan Society continues to strategically trim its post-acute portfolio, selling off a trio of skilled nursing campuses along the Illinois-Iowa border. The three properties had a total of 214 skilled nursing beds and 65 independent and senior living apartments, according to Blueprint Healthcare Real Estate Advisors — which brokered the deal […]

$45M ReFi for Three Texas SNFs; Nonprofit Sells Three SNFs in N.C.

KeyBank Real Estate Capital secured $45 million in Federal Housing Authority (FHA) loans for the refinancing of three skilled nursing facilities in the state of Texas. The loans were $16 million for the 120-bed Regency-Windsor Calallen in Corpus Christi, $14.5 million for the 120-bed Regency-Bastrop Nursing & Rehabilitation Center in Bastrop and $14 million for […]

$10M Deal in Progress for NY State Nursing Home; Turnaround Sale in Tucson

Two groups of buyers are involved in the transition of a skilled nursing facility located in Warsaw, N.Y., Buffalo Business First reported. Bartholomew Health Care Group of Rochester’s decision to sell the 80-bed East Side Nursing Home came after financial problems primarily stemming from Medicaid funding, owner A. John Bartholomew told the publication. The initial […]

Ventas Backs $1.5B Refi of Colony Capital’s Health Properties; SLP’s Rural SNF Portfolio Expands to 37

Colony Capital, Inc. (NYSE: CLNY) on Thursday announced the successful refinance of a $1.73 billion consolidated loan on its health care portfolio, which includes skilled nursing facilities, senior housing properties, hospitals, and medical office buildings. The new interest-only loan totals $1.52 billion, with a five-year term and a blended interest rate of one-month LIBOR plus […]

Despite Recent Challenges, Skilled Nursing-REIT Relationship Isn’t Going Away

Though the leasing relationships between real estate investment trusts (REITs) and their skilled nursing tenants have come under scrutiny — and criticism — in recent months, it may be premature to declare their permanent demise. “There’ll be health care — broadly defined — REITs that’ll move in and out of the sector, upsize and downsize,” […]

Eduro Takes Over Two Dycora SNFs in California; $1.5M Texas Turnaround

A pair of properties formerly operated by the troubled Dycora Transitional Health and Living chain in the Golden State have a new owner. Eduro Healthcare entered the California market with the acquisition of the two former Dycora properties in Fresno and Stockton, Calif. Michael Bewsey, managing partner at the Salt Lake City-based Eduro, characterized the […]

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 […]