CareTrust REIT (Nasdaq: CTRE) acquired the Buena Vista Care Center, a 150-bed skilled nursing facility in Santa Barbara, Calif., for about $15.9 million, including transaction costs, the real estate investment trust announced March 9. The facility will continue to be operated by Covenant Care under a long-term lease assumed by the San Clemente, Calif.-based CareTrust […]
Eastern Union
The long wait is over: The new Medicare payment system for nursing homes has arrived. October 1 marks the official start of the Patient-Driven Payment Model (PDPM), just about 18 months after the federal government first announced the change in April 2018. Since then, the skilled nursing industry has trained a laser focus on preparations […]
Three Years After Entering the Space, Eastern Union Eyes $1B in Annual Skilled Nursing, Health Deals
Eastern Union has only been in the skilled nursing real estate space for about three years, but the executive in charge of its health care group has “lofty goals” for deal volume. The New York City-based mortgage brokerage has handled about $12 billion in real estate deals over the last three years, with health practice […]
Ask any skilled nursing investor about the metrics that get them excited about a potential deal, and you’ll probably hear about the strength of a given operator in a market — along with other common factors such as proximity to a hospital, involvement in local care networks, and relatively young age of plant. In addition, […]
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