Over the past month, bankers have secured multimillion dollar loans insured by the Department of Housing and Urban Development (HUD) for SNF properties in North Carolina, D.C., California and Kentucky, as the government agency continues to be one of the most reliable backers for nursing homes through the pandemic. “Over the course of COVID we […]
Capital Funding Group
Chicago-based specialty investment bank Ziegler last week announced it closed on $115,630,000 Series 2021A and Series 2021B Bonds for a 24.3-acre continuing care community within Sawgrass, a 4,800-acre private resort and residential community in Florida. Based 20 miles southeast of Jacksonville, Fla., in Ponte Vedra Beach, the community, Vicar’s Landing, includes 227 independent living units, […]
Greystone provided a $24.9 million loan insured by the Department of Housing and Urban Development (HUD) for the refinancing of the 120-bed skilled nursing facility Adira at Riverside, in Yonkers, N.Y. The financing was originated for L&A RE Acquisition, LLC, by Greystone managing director Fred Levine, with Shia Fishman of Capital Stack Advisors acting as […]
Capital Funding Group announced on Monday that it closed $285 million in financing for the acquisition of a skilled nursing portfolio secured by 16 facilities in the mid-Atlantic region, in partnership with its credit venture CFG Credit Partners. The bridge-to-HUD [Department of Housing and Urban Development] financing was for “a nationally recognized borrower” who is […]
A sweeping portfolio deal on behalf of Eagle Arc Partners marked the first transaction for Capital Funding Group’s new credit venture — with a $317.5 million price tag. The Baltimore-based lending and finance firm closed the bridge-to-Department of Housing and Urban Development (HUD) acquisition loan through its CFG Credit Partners entity. The $300 million-plus deal […]
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 […]
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 […]
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 […]
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 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, 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 […]
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 […]
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 […]
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 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 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 […]
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 […]
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 […]
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, […]
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