$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 […]

$76.6M Portfolio Sale in Florida; Genesis Partners with Sava

Cushman & Wakefield facilitated the sale of a 10-property senior housing portfolio, consisting of assisted living and skilled nursing properties, for $76.6 million, REBusinessOnline reported. The portfolio includes 1,289 beds and was sold by ADME Investment Partners; Robert Kaplan and Mark Rutherford of Cushman & Wakefield represented ADME. The buyers were not disclosed. The skilled […]

Portopiccolo Expands with $14.5M Bridge-to-HUD Loan; SLIB Turns Two in Tennessee ‘Win-Win’

The Portopiccolo Group recently expanded its skilled nursing ownership footprint with the assistance of Capital Funding Group, which bankrolled the acquisition of a Virginia facility and the refinance of a second property in Kentucky. The $14.5 million bridge-to-Department of Housing and Urban Development (HUD) loan allowed the Englewood Cliffs, N.J.-based Portopiccolo purchase Emporia Manor, a […]

Strawberry Fields’ $3.15M Skilled Nursing Buy, Capital Funding’s Bridge Loan for Six Illinois Facilities

Strawberry Fields REIT this week announced the $3.15 million acquisition of The Waters of Muncie, a skilled nursing facility in Muncie, Ind. The all-cash deal for the 72-bed facility now brings the real estate investment trust (REIT) to 74 nursing homes, a spokesperson for Strawberry Fields told SNN. “The Waters of Muncie is a well-located […]

Capital Funding’s $14.7M Bridge Loan in Utah; Sims Lands $14.1M Skilled Nursing Financing in Hawaii

Capital Funding, LLC announced the closing of a $14.7 million of a real estate term loan for a skilled nursing facility in Utah, which closed on October 3, 2019. The Baltimore-based Capital Funding helped owner Stonehenge of Utah to refinance existing debt and buy out Stonehenge of American Fork, minority partners of a 119-licensed bed […]

Final Standalone Kindred Skilled Nursing Facility Changes Hands

More than two years after announcing a plan to exit the skilled nursing space, former industry giant Kindred Healthcare has sold off the final remaining standalone SNF in its portfolio. The Louisville, Ky.-based operator sold Kindred Transitional Care and Rehabilitation — Spring Valley, a 160-bed property in Las Vegas, to Capital Senior Ventures on October […]

Citing ‘Crushing Rent Burden,’ Skilled Nursing Operator Absolut Care Files for Bankruptcy

Skilled nursing provider Absolut Care — and some of its subsidiaries — filed for Chapter 11 bankruptcy on September 10 in the U.S. Bankruptcy Court for the Eastern District of New York. The East Aurora, N.Y.-based company operates six SNFs and one assisted living facility in the Empire State, with approximately 975 employees, according to […]

$47M SNF Breaks Ground in Tennessee; $5.8M Bridge-to-HUD Loan in Ohio

Officials in Tennessee broke ground on a $47 million state veterans nursing home in a ceremony in Cleveland, Tenn., the Associated Press reported Aug. 22. The 108-bed skilled nursing facility will include six 18-bedroom residential houses linked by interior shared support spaces. The U.S. Department of Veterans Affairs is contributing a $30.5 million grant, while […]

Capital Funding Closes $18.5M Bridge Loan for Texas Portfolio; CCRC Plots New Skilled Nursing Development

Capital Funding Group announced its involvement in a $18.5 million bridge loan used to acquire a four-building skilled nursing portfolio in Texas. The deal, which closed in April, was intended as a step toward eventually refinancing the debt through the Department of Housing and Urban Development’s (HUD) 232(f) program. The portfolio, under the control of […]

CareTrust, Eduro Pick Up Another ManorCare SNF; 5-Building Deal in Ohio

CareTrust Buys Another ManorCare Building for $4.75M CareTrust REIT (Nasdaq: CTRE) on Monday announced the purchase of The Meadows on University, a skilled nursing facility in Fargo, N.D. formerly owned by HCR ManorCare. The 110-bed SNF sold for $4.75 million, including transaction costs, and marked the second installment of a two-part deal between the real […]

$64.5M HUD Mortgage Closing; Blueprint Makes Moves in Arkansas and Pennsylvania

Blueprint Announces SNF sales in Arkansas, Pennsylvania Blueprint Healthcare Real Estate Advisors announced two separate sales of skilled nursing facilities, one in Pennsylvania and the other in Arkansas. The sale of Fairview Care Center of Bethlehem Pike, a 176-bed SNF in Philadelphia, was related to a recent eight-property portfolio sale in the same area, with […]

Skilled Nursing Transactions: NHI, CarDon, Greystone, Ziegler

NHI Purchases Texas SNF for $14.4M National Health Investors, Inc. (NYSE: NHI) acquired a a 121-bed skilled nursing facility (SNF) in Waxahachie, Texas for $14.4 million.  The facility will be leased to an affiliate of The Ensign Group. It was added to the existing portfolio of 16 Ensign facilities across the state. CarDon & Associates Adds Lincoln Hills […]

Transactions: More Details on Skilled Nursing Operator’s Philly Exit

Mid-Atlantic Health, Philly’s Largest SNF Operator, Exits  The Timonium, Md.-based Mid-Atlantic Health Care made headlines last week when it exited the Philadelphia market, where it had previously been the largest provider of skilled nursing services. Now, the broker that helped negotiate the deal released a few extra details about the transaction. MIMA Healthcare of Lakewood, […]