HUD Lending Backlog in Skilled Nursing Could Last Four Months

Even though the federal government shutdown lasted 35 days, the effect on the skilled nursing financing landscape could last well into the spring and summer as officials work through the sizable backlog. The Department of Housing and Urban Development was unable to endorse loans during the partial government work stoppage that lasted from December into […]

Citadel Healthcare Acquires ManorCare Facility; Lancaster Pollard’s SNF Bridge Loans

Citadel Healthcare Acquires Illinois ManorCare SNF Citadel Healthcare acquired ManorCare of Northbrook in Northbrook, Ill., for an undisclosed amount, The Daily Herald reported. The facility, which has been renamed The Citadel of Northbrook, is the 10th location for Citadel, according to the publication. The company is based in Morton Grove, Ill., according to its LinkedIn […]

White Oak Picks Up $700M Portfolio of Skilled Nursing, Senior Housing Loans from Capital One

White Oak Healthcare Finance on Wednesday made another major splash in the long-term care world, announcing the acquisition of a $700 million portfolio of 12 loans associated with skilled nursing and senior housing properties. The investment company — a subsidiary of the San Francisco-based alternative asset management firm White Oak Global Advisors — bought the […]

Reliant’s $88M Portfolio Play; $28M HUD Loan for Illinois Facility

Reliant Named as Seller, Operator in $88M Griffin Deal Affiliates of Reliant Care Management Group sold a portfolio of eight skilled nursing facilities in Missouri to Griffin-American Healthcare REIT IV, Inc., and will stay on as operators going forward. Griffin-American first announced the $88.2 million deal in June, with the deal closing during the first week […]

Ohio Skilled Nursing Facility Sells for $13.5M; Mass. Portfolio Gets $47M in Loans

$4.7 Million Raised for New County Skilled Nursing Facility The Door County Medical Center in Sturgeon Bay, Wis., held a groundbreaking ceremony for a new 25,000-square-foot skilled nursing facility, the Door County Daily News reported. The facility is expected to be completed in the next year. Mike Herlache, executive director of the Door County Medical Center […]

Ensign Nabs Phoenix SNF; Capital One Handles $13.2M HUD Refinancing

Phoenix Skilled Nursing Facility Goes to Ensign Affiliate Blueprint Healthcare Real Estate Advisors announced the sale of the 128-bed Plaza Del Rio in the Phoenix suburb of Peoria to an affiliate of The Ensign Group (Nasdaq: ENSG). The seller was a Florida-based senior living developer and philanthropist who held the facility in a charitable remainder trust. […]

Traditional Lenders Take ‘Selective’ Approach to Skilled Nursing

Headwinds are ripping the skilled nursing industry from the ground up, and financing is no exception, according to a debt financing panel at the National Investment Center for Seniors Housing & Care Spring Investment Forum in Dallas. “We are being selective in our approach to skilled nursing and there’s no two ways about it,”  Jeff […]

Health Care Executives Begin 2018 Bullish on M&A Front

Senior officials from skilled nursing and other health care companies are approaching 2018 confident in their mergers and acquisitions (M&A) strategies, according to a survey conducted by Capital One Financial Corporation. Among those surveyed, exactly 50% identify M&A as their primary growth strategy in 2018 — a substantial growth compared to last year’s survey, where […]

MIT Explores How Long-Term Care Could Transform as U.S. Ages

Age-related demographic shifts could one day drive a radical transformation of how some senior living and long-term care facilities are designed and operated, according to a recent report from the Massachusetts Institute of Technology (MIT) Center for Real Estate. The latest census data shows the number of Americans aged 65 or older is projected to total 83.7 million by 2050, according […]

Skilled Nursing Transactions: $12.7M SNF Sale in Georgia

Blueprint Arranges Sale of Two GA SNFs Blueprint Healthcare Real Estate Advisors helped arrange the sale of two Georgia skilled nursing and long-term care facilities on behalf of a publicly traded real estate investment trust (REIT). The two facilities — the 100-bed Etowah Landing in Rome, Ga. and the 210-bed River Towne Center in Columbus, […]

Execs Feel Confident About Pace of Senior Housing, Skilled Nursing M&A

Some long-term care and senior living industry leaders are feeling good buying properties heading into the fourth quarter of 2017—though some of that optimism may rest with senior housing. More than 150 senior housing and health care company executives weighed in on the 12-month outlook for the industries as part of a new survey from Capital […]

Skilled Nursing Transactions: Strawberry Fields Picks Up Louisville SNF

Ohio Skilled Nursing Facility Sold for $7.5M An Ohio skilled nursing facility (SNF) is under new management after being sold for $7.5 million by Kettering Health Network, a hospital system based in Dayton, Ohio, the Dayton Daily News reported. The former Greene Oaks Retirement Center, now called Harmony Center for Rehabilitation & Healing, was purchased by […]

Skilled Nursing Transactions: CareTrust REIT Expands in Four States

Capital One Provides $16.3 Million Loan to Refinance PruittHealth SNF Portfolio  Capital One announced that it provided a $16.3 million loan to PruittHealth to refinance a portfolio of three skilled nursing facilities (SNFs) and an intermediate care facility for individuals with developmental disabilities (ICF-MR) in Georgia, as well as a SNF in North Carolina. Four […]

Skilled Nursing Transactions: $41.1 Million Mortgage for Northwest Provider

Capital One Closes $41.1 Million Mortgage for Pacific Northwest SNF Provider Capital One provided a $41.1 million first mortgage and a $5 million senior credit facility for Prestige Care, a Vancouver, Wash.-based provider of skilled nursing, memory care, assisted living, and independent living communities, the lender announced. Prestige Care will use the loan to purchase […]

Transactions: Greystone Arranges $78M in HUD Financing for SNF

Greystone Lands $78 Million HUD Loan for Brooklyn SNF Greystone, a New York City-based real estate lending, investment and advisory company, provided a $78 million Department of Housing and Urban Development refinance loan for Boro Park Center for Nursing & Rehabilitation in Brooklyn, N.Y. The transaction represents one of the largest-ever HUD loans for a […]