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 […]
Dwight Capital and its mortgage real estate investment trust (REIT) affiliate Dwight Mortgage Trust ended the second financial quarter with $297.6 million in seniors and health care financings. Notable transactions from Q2 included bridge loans for an eight-property SNF portfolio in Minnesota, along with New Jersey-based Riverfront Rehabilitation and Healthcare Center and continuing care retirement […]
The investment will be used to deepen the company’s presence in California, Ohio and Texas, in addition to expanding into other markets, according to a news release. CareConnectMD provides primary and palliative care to high-risk populations in care environments such as the home and skilled nursing facilities. CareConnectMD is currently one of only eight high-needs […]
As the White House blasts the role private equity and real estate investment trusts (REITs) play in the nursing home space, some industry insiders believe that the administration is confused about how ownership actually works and where problems truly lie. David Reis, CEO of Senior Care Development, described “three players at the table,” and said […]
Specialty investment bank Ziegler announced it closed $120 million Series 2021 bonds for a group that owns and operates 14 continuing care retirement communities (CCRCs) throughout California. The CCRCs consist of 2,188 residential living apartments, 477 assisted living apartments, 161 memory support suites and 656 skilled nursing beds. The bonds will be used to fund […]
Greystone announced that it provided a $36,464,000 loan insured by the Department of Housing and Urban Development (HUD) for the financing of three skilled nursing facilities (SNFs) in North Carolina. The properties are located in Durham, Rutherfordton, and Pinehurst. Fred Levine originated the loans for New York City-based Greystone. The Durham location, Carver Living Center, […]
New York City-based health care lender and asset manager MONTICELLOAM, LLC announced that it provided a $70 million, five-year loan to refinance a seven skilled nursing facility portfolio. That portfolio consists of 953 beds throughout Arkansas. The sponsors of the transaction have a total portfolio of approximately 1,200 beds in Arkansas and have a proven […]
Cushman & Wakefield earlier this month announced its involvement in a three-building, $118 million skilled nursing portfolio deal on behalf of Healthcare Trust, a non-public real estate investment trust (REIT) based in New York City. The real estate services firm kicked off the process with the successful sale of Lutz Healthcare and Rehab in Lutz, […]
Dwight Capital closed a $25.68 million Department of Housing and Urban Development (HUD) 232/223(f) loan for Graceland Rehabilitation and Nursing Center, a 221-bed skilled nursing facility located in Memphis, Tenn., and a $23.83 million HUD 232/223(a)(7) loan for Eastchester Rehabilitation and Health Care Center, a 200-bed SNF located in the Bronx, N.Y. The closings were […]
Dwight Capital has acquired Love Funding, the Department of Housing and Urban Development (HUD) subsidiary of Midland States Bank. With the transaction, the New York-based Dwight becomes the largest dedicated Federal Housing Administration (FHA)/HUD multi-family and health care financing firm in the country, according to a press release from Dwight sent to Skilled Nursing News […]
Newmark Knight Frank, a commercial real estate advisory firm, this week announced the sale of six skilled nursing facilities in the state of Arkansas. The portfolio had an average occupancy of 82%, with a total of 868 beds. The properties had an “average vintage” of 1985, according to the release announcing the deal, which was […]
MONTICELLOAM, LLC provided $97.2 million in first-lien debt financing for the acquisition of an five-building skilled nursing portfolio in Virginia, the New York City-based lender announced this week. With the deal, the unnamed buyer — an owner-operator — added 856 beds to its existing portfolio of more than 1,100 skilled nursing beds. MONTICELLOAM’s asset-based lending […]
Nursing home operators that have relied on government-backed financing for acquisitions and renovations can begin measuring time in two distinct eras: pre-Rosewood and post-Rosewood. The record-setting default on the Rosewood Care Centers portfolio, publicized in the New York Times, has prompted the Department of Housing and Urban Development (HUD) to take a harder line on […]
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 […]
MidCap Financial provided a $33 million mortgage for a lease-purchase option on five skilled nursing facilities in Oregon for Avalon Healthcare Group. The Salt Lake City-based Avalon operates post-acute facilities in Hawaii, Oregon, Washington, and Utah. MidCap’s Department of Housing and Urban Development (HUD) lending team will work with Avalon to begin the bridge-to-HUD refinance […]
North Shore Healthcare officially completed its acquisition of 21 skilled nursing and assisted living facilities formerly operated by Atrium Health & Senior Living. The Glendale, Wis.-based North Shore now has 71 SNFs and assisted living communities in Wisconsin, Michigan, Minnesota, and North Dakota, according to the operator’s December 1 announcement. Atrium had 33 SNFs and […]
Despite an extended government shutdown and some negative press, the federal lending program for nursing facilities and other health care properties saw a slight boost in overall dollar volume for the year — even as the absolute number of deals experienced a dip. The Department of Housing and Urban Development’s Section 232 program for skilled […]
Hackensack Meridian Health, a New Jersey-based hospital system, acquired a trio of nursing homes in a $60 million deal designed to bolster its post-acute footprint. The Bergen Record first reported the news Tuesday. The 17-hospital network will operate the properties — Prospect Heights Care Center and Regent Care Center in Hackensack, N.J., and the West […]
Dwight Capital pulled off a $7.75 million bridge loan for a pair of skilled nursing facilities in northwestern Tennessee: Douglas Health and Rehabilitation Center in Milan, Tenn. and Palmyra Health Care Center in Palmyra, Tenn. The two-SNF portfolio consists of 145 total units, with 73 skilled nursing beds at the Palmyra facility and a mixture […]
The federal government’s lending program for nursing homes has come under national scrutiny in the wake of a record-setting default, but financial leaders in the space say the initiative is vital to the overall health of the industry. The Department of Housing and Urban Development’s (HUD) Section 232 program gives skilled nursing operators and investors […]
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