An advisory and brokerage firm for senior housing and care operators expects transactions in the space to gather steam in the second half of 2021, with “greater near-term activity in skilled nursing,” according to a virtual investor meeting hosted by BMO Capital Markets that the bank recapped in a March 21 note. But Blueprint Healthcare […]
Blueprint Healthcare Real Estate Advisors
CareTrust REIT (Nasdaq: CTRE) acquired the Buena Vista Care Center, a 150-bed skilled nursing facility in Santa Barbara, Calif., for about $15.9 million, including transaction costs, the real estate investment trust announced March 9. The facility will continue to be operated by Covenant Care under a long-term lease assumed by the San Clemente, Calif.-based CareTrust […]
With federal relief propping up nursing home operations during the ongoing COVID-19 crisis, the mergers-and-acquisitions market has remained relatively stable over the past year — but buyers and sellers are already starting to adjust to a world where the full licensed bed capacity is more of a pipe dream than a realistic benchmark. Amy Sitzman, […]
Per-bed prices — a gold-standard valuation metric for buyers looking to invest in skilled nursing facilities — have remained stable for most of the COVID-19 pandemic, and even picked up at the end of 2020. But focusing on cash flow is perhaps even more important as the government shoots money into the industry. Bed prices […]
The Ensign Group (Nasdaq: ENSG) acquired the operations of the 150-bed San Pedro Manor, a skilled nursing facility in San Antonio, Texas. The acquisition was effective February 1, and will be part of a long-term, triple-net lease. The transaction brings Ensign’s portfolio to 232 health care operations, 24 of which also include assisted living, across […]
The Chicago-based Cambridge Realty Capital announced a host of skilled nursing deal closings completed during the fourth quarter of 2020, bringing the lender’s total to $415 million for the year. The largest of those transactions involved $16.9 million for Manor Court* of Peru, Ill., a campus with 94 skilled beds, 68 assisted living units, and […]
White Oak Healthcare Finance provided funding for a $110 million senior credit facility secured by nine skilled nursing facilities in Virginia, with a total of more than 1,000 beds. White Oak acted as administrative agent and sole lender on the funding, which was done on behalf of the client, “a well-respected real estate investor,” according […]
MONTICELLOAM, LLC and its affiliates announced $42.08 million in first lien debt financing for the acquisition of a skilled nursing facility in Virginia. The transaction includes a $3.5 million working capital loan for the operating companies, provided by Monticello Commercial Capital, the real estate and asset-based lender, asset manager and servicer’s asset-based lending group. The […]
Eagle Arc Partners, formerly known as BM Eagle Holdings, has acquired 20 skilled nursing facilities — the majority of which are located in Florida, along with properties in Georgia and Mississippi. The price of the sale was not disclosed; two operators who were also not disclosed partnered with Eagle Arc on the sale. The process […]
Oxford Finance LLC announced the closing of a $9.5 million senior credit facility and revolving line of credit to AB Asset Management LLC and Vitalogy Property Holdings LLC to finance the acquisition of two skilled nursing facilities in Wisconsin with 158 beds in total. To acquire the properties, Vitalogy formed a partnership with AB Asset […]
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 […]
Dwight Capital closed a $25.68 million Department of Housing and Urban Development (HUD) 232/223(f) loan for Graceland Rehabilitation and Nursing Center, a 221-bed skilled nursing facility located in Memphis, Tenn., and a $23.83 million HUD 232/223(a)(7) loan for Eastchester Rehabilitation and Health Care Center, a 200-bed SNF located in the Bronx, N.Y. The closings were […]
Mercy Health Services in Maryland opened a $30 million rehabilitation and nursing care facility, operated by its long-term care arm Stella Maris, the Baltimore Business Journal reported on September 9. The facility is part of a campus in Baltimore County that houses other Stella Maris services, such as an independent living complex and assisted living […]
American Medical Technologies, a leading provider of wound-care services to post-acute and long-term care facilities, last Friday announced its acquisition by private equity firm One Equity Partners and investment management company The Silverfern Group. The Irvine, Calif.-based AMT operates in more than 6,250 facilities across the country, according to the company, with services ranging from […]
Walker & Dunlop facilitated a $16.41 million financing for three skilled nursing facilities in central Colorado through the Department of Housing and Urban Development’s (HUD) LEAN 232/233(f) refinance program, which provides long-term and reduced-rate financing for specialty healthcare facilities. The facilities were the 99-bed Pioneer Health Care Center in Rocky Ford, Colo., the 56-bed Paonia […]
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 […]
Meridian Capital Group last week announced the closure of $471 million in skilled nursing deals covering 36 buildings over the span of six weeks, according to the New York City-based finance and investment firm. The set of transactions brings the total 2020 financing haul for Meridian’s senior living housing and health care team to $1.5 […]
Harborview Capital Partners arranged a $32.4 million Department of Housing and Urban Development (HUD) Section 232/223(f) loan for the refinancing of a 210-bed skilled nursing facility for the Chicago-based operator Legacy Healthcare. The loan features a 35-year term and “amortization at an extremely aggressive rate,” according to a statement announcing the deal. Ephraim Kutner, Jonathan […]
Newmark Knight Frank, a commercial real estate advisory firm, this week announced the sale of six skilled nursing facilities in the state of Arkansas. The portfolio had an average occupancy of 82%, with a total of 868 beds. The properties had an “average vintage” of 1985, according to the release announcing the deal, which was […]
Chicago-based specialty investment bank Ziegler this week announced the successful sale of a three-building skilled nursing portfolio on behalf of former owner Emerald Shelter Group. The buyer, a joint venture between an owner-operator group and a private equity firm, paid $67 million for the three properties in Wilmington, Newark, and Lewes, Del. Based in Nashville, […]