$30M Rehab and Nursing Center Opens in Maryland; Cushman & Wakefield’s $37.1M Financing

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 […]

Private Equity Snaps Up Wound Care Provider AMT; Monticello’s $14M Skilled Nursing Deal

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’s $16M Skilled Nursing Deal in Colorado; Eduro’s California Acquisition

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’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 […]

$32.4M HUD Loan for Chicago’s Legacy Healthcare; Kansas SNF Portfolio Lands $15.5M in Financing

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 […]

Six-SNF Sale in Arkansas; $12.4M HUD Loan in New Jersey

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 […]

Ziegler’s $67M Skilled Nursing Portfolio Deal; Monticello’s $66M Acquisition Funding

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, […]

Monticello’s $117M Skilled Nursing Portfolio Deal; CIT Backs $93.7M Genesis Transaction

MONTICELLOAM, LLC on Tuesday announced that it had provided $117 million in first-lien debt financing for the acquisition of a 12-building skilled nursing portfolio in North Carolina and Kentucky — along with the refinance of a thirteenth SNF. The entire portfolio totaled 1,357 skilled nursing beds. The New York City-based financial company and its affiliates […]

Blueprint’s $8.5M Ohio Sale; JLL Closes on Chicago Nursing Home & Shelter

Blueprint Healthcare Real Estate Advisors announced the $8.5 million sale of a 152-unit skilled nursing and assisted living facility in Northeast Ohio. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint indicated that the seller was a local 30-year owner-operator exiting the industry. The facility had experienced operational challenges, which Blueprint helped correct […]

Blueprint Pulls Off Seven-SNF Sale in Alabama; Tryko Grows Portfolio in Philadelphia

Blueprint Healthcare Real Estate Advisors late last week announced the successful sale of a seven-building skilled nursing portfolio across Alabama. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint did indicate that the portfolio went to a long-term care provider with an existing footprint in the state. The new operators plan to capitalize […]

LTC’s $33M Acquisition Play; KeyBank’s $21M Purchase Loan for Kentucky SNF

LTC Properties (NYSE: LTC) this week announced a $33 million portfolio acquisition that included a $13.5 million skilled nursing facility in Texas. The Westlake Village, Calif.-based real estate investment trust (REIT) purchased a 140-bed skilled nursing center in Longview, Texas, operated by HMG Healthcare of The Woodlands, Texas. HMG has a 10-year, triple-net lease on […]

Vacant Skilled Nursing Facility Changes Hands in Ohio; Banking on Hospital Referrals in NH

Blueprint Healthcare Real Estate arranged the sale of a vacant 150-bed skilled nursing facility in Southeast Ohio. The Chicago-based brokerage worked with a real estate investment trust (REIT) owner and its national skilled operator tenant, which was looking to exit the state. The property was designated a Special Focus Facility, the federal government’s list of […]

[UPDATED] $13.8M Loan for Preferred Care Pickup; Blueprint Brokers Transfer of Two in Arizona

Capital Funding Group last week announced the $13.8 million closing of a bridge loan backing Preferred Care’s acquisition of a 126-bed skilled nursing facility in New Jersey. The Baltimore-based Capital Funding and Preferred Care plan to refinance the debt through the Department of Housing and Urban Development’s 223(f) refinance program, which offers financing with longer […]

$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, […]