First Citizens Bank’s Healthcare Finance business served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois. The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities, with investments in over 24 states, First Citizens said in […]
CIBC Bank USA
CIBC Bank USA and a Greystone Monticello affiliate, along with other co-lenders, provided 980Investments with $137 million to refinance a nursing home portfolio. 980Investments is owned by Simcha Hyman and Naftali Zanziper, and the 1,135-bed portfolio is located in North Carolina. CIBC additionally provided a $6.5 million revolving line of credit to support the ongoing […]
Brokerage firm Evans Senior Investments (ESI) facilitated the sale of county-owned Samaritan Health Center in West Bend, Wisconsin. An independent owner-operator was chosen as the buyer, upon county approval. Samaritan provides 186 beds, including 131 skilled nursing beds, 24 residential care apartments, and 31 assisted living beds. Samaritan faced several key challenges while on the […]
Northwind Group, a real estate private equity firm and debt fund manager, announced multiple significant investments in the skilled nursing sector earlier this month in a move that underlines a favorable environment for deal making for large players. A portfolio of nursing homes owned by The Portopiccolo Group benefited from the provision of credit facilities […]
Evans Senior Investments (ESI) arranged the sale of a 138-bed skilled nursing facility in Anaheim, Calif. for $25 million or $181,159 per bed. The buyer, an East Coast real estate holding company, structured the lease with a local owner/operator in the state, according to the real estate brokerage firm. Operating long-term care assets in today’s […]
A large Midwest-based company has transitioned from operator to owner-operator at 12 facilities in Pennsylvania and Delaware after purchasing the assets for $140.5 million in a deal announced on Wednesday by CIBC Bank USA. The seller, a private equity firm, has reportedly been looking to divest from the space. Neither the buyer or seller in […]
Oxford Finance’s Healthcare Real Estate Group closed over $280 million in transactions in the first quarter of 2022, providing credit facilities ranging from $5 million to more than $110 million. Some of the deals Oxford closed included a $80.7 million term loan along with a $8.5 million revolving line of credit to finance the acquisition […]
Senior Living Investment Brokerage announced the sale of Cla-Cliff Nursing and Rehabilitation Center, a 116-bed facility in Brinkley, Ark. The facility was owned and operated within the same family for nearly 60 years, but ultimately the seller was looking to retire and exit the sector. The buyer is a regional owner looking to expand its […]
Chartwell Retirement Residents announced last week it will transition 16 of its Ontario long-term care homes, totaling 2,418 beds, to AgeCare Health Services and Axium Infrastructure Inc. for $446.5 million. The deal equates to $358,456,029.93 in American currency. Chartwell’s management platform, which serves these 16 homes and another six homes with 866 beds, will be […]
Arcadia Care expanded its footprint in central Illinois after taking over a skilled nursing facility in need of a more “present” operator. Within the first month, CEO Dovid Seitler said Arcadia Care increased the facility’s acuity level, stabilized occupancy and improved financials through necessary expense cuts. Seitler attributed almost doubling the facility’s skilled mix and […]
CIBC Bank USA closed $20.2 million in acquisition financing for two facilities in central Ohio. The facilities included 199 skilled nursing and 27 assisted living beds. The bank also provided a $2 million revolving line of credit that will be used to support the post-acquisition working needs of the facilities. In the Ohio deal, the […]
VIUM Capital closed multiple skilled nursing deals recently including a $21,250,000 acquisition loan for a Wisconsin-based continuing care retirement community and a $58 acquisition loan for a Michigan portfolio of five SNFs and one assisted living facility. The CRCC, Bria of Trinity, was purchased using bridge-to-HUD funding for a buyer looking to grow their presence […]
CIBC Bank USA closed several acquisition and refinancing loans for skilled nursing assets in the last month as Matthew Tyler, managing director of health care at CIBC, said it continues to see operators looking for new banking relationships coming out of COVID-19. He sat down with Skilled Nursing News to share what he looks for […]
Specialty investment bank Ziegler announced it closed on $80 million Series 2021 Bonds for a Florida not-for-profit corporation in Winter Park, six miles from downtown Orlando. The community includes 60 skilled nursing beds. The deal marks the second phase of a two-phase repositioning of the campus. The first phase was financed in November, with $60,135,000 […]
The Ensign Group (Nasdaq: ENSG) kicked off 2021 by acquiring the operations of three skilled nursing facilities in Southern California with 99 beds apiece: Golden Hill Post Acute in San Diego, St. Catherine Healthcare in Fullerton, and Camino Healthcare in Hawthorne. The transaction closed on New Year’s Day, and the San Juan Capistrano, Calif.-based Ensign […]
White Oak Healthcare Finance provided funding for a $110 million senior credit facility secured by nine skilled nursing facilities in Virginia, with a total of more than 1,000 beds. White Oak acted as administrative agent and sole lender on the funding, which was done on behalf of the client, “a well-respected real estate investor,” according […]
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