Building an Edge: SNF Operators Innovate Through Establishing Specialty Services, Public-Private Partnerships

Against the backdrop of economic and staffing challenges still facing the nursing home sector, operators are seeking business innovations that are community-centered and that expand their health care offerings through unique public-private partnerships and financial arrangements. The innovations include transition into a nonprofit model, creative ways to use state and federal dollars, and addition of […]

Inside the Factors Driving High SNF Deal Prices — And Why Market Adjustment May Be Coming

Bed pricing for nursing homes remains astronomically high, despite a spate of economic factors that have dampened dealmaking, leading operators surprised and confused about the trend. Unfavorable interest rates, higher costs of care and market inflation have caused M&A activity to normalize, and yet bed prices haven’t budged. Bed prices averaged $97,000 per bed in […]

Capital Funding Group Executes $2.7B in 2022 Financings; Evans Senior Investments Completes $39M Sale

Three skilled nursing properties in Pennsylvania comprising 395 beds and 32 senior housing units were purchased for $39M, or $91,000 per unit. The seller, represented by Evans Senior Investments (ESI), exited the long term care industry. “The ESI Team was successfully able to showcase how a new regional owner/operator could eliminate the agency staffing issues […]

Top Skilled Nursing Trends for 2023

Economic uncertainty, staffing shortages, looming federal regulations, a new COVID variant and major changes to the Minimum Data Set (MDS) are just a few of the challenges facing the skilled nursing sector at the dawn of 2023. But a new year is also a time for optimism. Favorable Medicaid policies, the growth of strong regional […]

SavaSeniorCare Expects to Cease Operations by Early 2023

After divesting of its sizable portfolio over the course of several years, SavaSeniorCare will cease to exist as a company once its last five nursing homes transition to other operators, which the company expects to occur by the end of January 2023. The end of Atlanta-based Sava marks another sea change in the skilled nursing […]

2023 Skilled Nursing Investment Outlook Hinges on Interest Rates, Medicaid Rebasing 

On Friday, news broke that the Ohio House approved $615 million in funding for the state’s skilled nursing facilities. Also on Friday, stocks were roiled by a better-than-expected federal jobs report, which stoked expectations of further interest rate hikes from the Federal Reserve. These dynamics — funding measures at the state level and rising interest […]

Ensign Acquires Texas Nursing Home; Lument Closes $87M Financing For 9 SNFs

The Ensign Group this week acquired the real estate and operations of a Texas skilled nursing facility. Park Manor of McKinney is a 138-bed nursing home located in McKinney, Texas. Standard Bearer Healthcare REIT, Ensign’s captive real estate company, acquired the real estate effective Aug. 1, according to a news release. The deal brings Ensign’s […]

$135M Refinancing for 9 SNF Portfolio; VIUM Lands $74.5M for 11 SNF Portfolio

Capital Funding Group announced it closed a $135 million bridge loan for the refinancing and dividend recapitalization of a 9-facility portfolio across Maryland, Georgia and West Virginia. The portfolio features 1,448 beds and is reportedly owned by an industry-leading owner of SNFs. “We’re excited to continue this year’s momentum with the closing of another stand […]

Capital Funding Group Closes $10.57M For NJ SNF; Health System Divests Post-Acute Portfolio

Healthcare Transactions Group completed the sale of Bon Secours Mercy Health’s post-acute portfolios in Ohio and Florida. This marks the final phase of a divestiture process that began in November 2019. The Ohio portfolio included four skilled nursing facilities, four assisted living facilities and one independent living facility. The Florida portfolio was made up of […]

Ziegler Closes $27M for Lutheran Homes of South Carolina; CFG Secures $11.26M for California SNF

Ziegler announced it closed $27.5 million in Series 2022A and 2022B Bonds for the Lutheran Homes of South Carolina. The Luther Homes of South Carolina currently operates five life plan communities, three hospice offices and four non-medical in-home services throughout South Carolina that includes a total of 1,077 units – 409 independent living, 308 assisted […]

SLIB Facilitates Sale of Indiana Nursing Home; CFG Secures $17.2M Bridge-to-HUD Loan for 2 SNFs

Vincennes, Ind.-based skilled nursing facility GentleCare of Vincennes was sold to The Strategies, an Indiana based owner/operator with other communities in the state, Senior Living Investment Brokerage announced. The 60 licensed bed, with 52 currently functional, facility reportedly has one of the longest running five-star designations in the state, according to SLIB. The seller, a […]

SNF Lending Competition Heats Up as ‘Core Group’ Returns After a Year on the Sidelines

While types of financing available to nursing homes have remained relatively consistent throughout the pandemic, the number of lenders has fluctuated, capital providers have said. In recent months more competition has come back into the skilled nursing marketplace, VIUM Capital Senior Managing Director Tony Ruberg told Skilled Nursing News, with larger players ready to be […]

Eduro Healthcare Expands in Texas; Capital Funding Group Sees $3.8B Year

Eduro Healthcare recently added two skilled nursing facilities to its Texas portfolio. The first facility, in Lockhart, Texas, closed for seven months due to damage from last year’s winter freeze. “We are excited to be the team to reopen Parkview Nursing and Rehab,” Eduro Healthcare Managing Partner Michael Bewsey said in a news release announcing […]

Providence Group Acquires Plum Healthcare, Adds 58 New Facilities to Portfolio

Providence Group has acquired California’s second-largest skilled nursing facility operator as the company expands its presence out west, the company announced this week. The deal with Plum Healthcare Group, which closed on Nov. 5 for an undisclosed sum, includes the operations of 58 total facilities — 57 nursing homes and one assisted living/independent living facility […]

SavaSeniorCare Moves 29-Asset Portfolio to Four New Tenants in Robust Financing Market

With the skilled nursing market hotter than ever, SavaSeniorCare recently moved a 29-asset long-term care portfolio in a deal that Erik Howard, executive managing director of Capital Funding Group, said was one of the more complicated ones the financial provider has completed this year. The deal included a $262.6 million term loan for the refinancing […]

Capital Funding Group Closes $262.6M in Refinancing for 29-Asset LTC Portfolio

Capital Funding Group announced on Monday it closed a $262.6 million term loan for the refinancing of a 29-asset long-term care portfolio. The portfolio spans across Colorado, California and Wyoming and includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. Owned by SavaSeniorCare, a […]

Operators Face ‘Crossroads’ to Either Get Bigger or Get Out, ESI says

The current skilled nursing market continues to be red hot with some of the larger, more aggressive groups paying prices that are $17,000 more per bed compared to 2020 in terms of evaluation,  Evans Senior Investments data from more than 425 facilities reveals.   “Despite the pandemic and everything else that is going on in the […]

$56.8M Deal For Ziegler; Capital Funding Group Sets Deals Record With $2B

Chicago-based specialty investment bank Ziegler announced in July it closed on $56,850,000 Series 2021 Bonds for a continuing care retirement community for not-for-profit corporation, Westminster. Located in Austin, Texas, the CCRC is comprised of 324 independent living units, 22 assisted living units and 85 skilled nursing beds, 30 of which are used for memory care. […]