This article is sponsored by Cambridge Realty Capital Companies. In this Voices interview, Skilled Nursing News sits down with Cambridge Realty Capital Companies CEO and Founder Jeffrey Davis to learn how Cambridge helps SNFs become ideal government partners, and how SNFs can boost revenue to upgrade buildings. Skilled Nursing News: You founded Cambridge in 1983. […]
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 […]
Walker & Dunlop last week announced the closure of $25 million in Department of Housing & Urban Development-backed financing for a skilled nursing and supportive living facility. The Bethesda, Md.-based real estate finance firm provided $10.7 million in financing for the 106-bed Landmark of Laurel Creek, a skilled nursing facility in Manchester, Ky. The property, […]
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 […]
The federal government has proposed a rule governing the use of Medicaid supplemental payments for nursing homes that could have drastic effects on the reimbursement they receive. But the ripples of the rule don’t stop there. They could also overhaul the taxes that providers pay in several states — taxes that in turn contribute to […]
Cambridge Realty Capital Companies provided a pair of $24 million Department of Housing and Urban Development (HUD) loans to refinance two Ohio combination skilled nursing and senior living properties. The loan covers the the Vista Care Center of Lisbon — a 76-bed, mixed-use skilled care and assisted living facility — and Vista Center at The […]
The federal government’s lending program for nursing homes has come under national scrutiny in the wake of a record-setting default, but financial leaders in the space say the initiative is vital to the overall health of the industry. The Department of Housing and Urban Development’s (HUD) Section 232 program gives skilled nursing operators and investors […]
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 […]
Lancaster Pollard landed a pair of bridge loans for skilled nursing operator The Arboretum Group, pulling off a total of $42 million in recapitalization efforts at five properties. The first loan, a $12 million product with a 12-month term, refinanced existing debt on two skilled nursing facilities in southern Texas. The second deal saw the […]
The Federal Reserve recently signaled that it might pull back on future rate increases after several consecutive hikes. But even as the Fed pumps the brakes, the central bank’s moves in recent months haven’t put a damper on borrowing in the skilled nursing space. Part of the reason may simply be the number of moving […]
The partial government shutdown has brought a multi-billion-dollar program for skilled nursing facility acquisitions and refinances to a halt, and the backlog could complicate deals long after the impasse eventually ends. The Department of Housing and Urban Development (HUD) has stopped endorsing loans, the final step toward closing deals through the Federal Housing Administration’s (FHA) […]
White Oak Provides $161M For Allegiant Healthcare’s 17-SNF Acquisition White Oak Healthcare Finance made another major financing for a skilled nursing transaction to kick off 2019. The affiliate of White Oak Global Advisors, LLC acted as sole lender and administrative agent for the funding of a $161 million senior credit facility for Allegiant Healthcare and […]
Dwight Capital Provides $4.5M Bridge Financing for Minnesota SNF Acquisition Dwight Bridge Fund, which is managed by the New York-based Dwight Capital’s affiliated investment advisor, financed an assisted living facility (ALF)/skilled nursing facility (SNF) acquisition in Minnesota. DBF provided a $4.5 million bridge loan for the purchase of Caledonia Rehabilitation & Retirement Center in Caledonia, Minn. The 66-bed […]
The shifting skilled nursing landscape has forced the major real estate investment trusts (REITs) to change their game plans — and led some industry-watchers to question whether their time is coming to a close. But there’s still a role REITs can play in the long-term care space, an industry that might actually be more attractive than the far […]
As occupancy declines, managed care grows, and payment models change, larger skilled nursing portfolio deals are cropping up in the mergers and acquisitions landscape. Skilled nursing players are taking notice. “We also continue to see opportunities involving several larger well-known portfolios of skilled nursing assets, and we expect to participate in the marketing process with […]
The state of Vermont recently enacted sweeping changes to the way government officials regulate the nursing home industry, with an eye on scrutinizing out-of-state buyers. Starting July 1, the state’s Agency of Human Services will oversee all nursing home ownership transfers, taking over the responsibility from the Green Mountain Care Board, according to a Thursday […]
As larger chains and real estate investment trusts (REITs) downsize, smaller buyers have taken center stage in the skilled nursing acquisitions arena. In particular, there’s been an uptick in smaller buyers of skilled nursing facilities who keep a lower profile, at least as defined by their web presence. It’s not uncommon for these individuals or […]
Greystone Provides $24.9 Million HUD Loan for Yonkers Facility Greystone, a real estate lending, investment and advisory company in New York, provided a $24,910,200 permanent loan insured by the Department of Housing and Urban Development (HUD) to refinance Adira at Riverside Rehabilitation & Nursing, a skilled nursing facility in Yonkers, New York. The loan carries a […]