Funds affiliated with Cressey & Company, a private investment firm specializing in advancing healthcare services and information technology enterprises, have acquiredHealthDrive, a prominent provider of multi-specialty clinical services to residents of long-term care (LTC) facilities. The purchase was made from Bain Capital Double Impact. Cressey’s involvement through affiliated funds marks a strategic move to amplify […]
Evans Senior Investments
CareTrust REIT Inc. (NYSE: CTRE), along with a regional investor in healthcare real estate, acquired four skilled nursing facilities on the West Coast. The four-property acquisition includes 450 skilled nursing beds and 20 assisted living units. Links Healthcare Group, a new operator relationship for CareTrust, will operate the facilities pursuant to a 15-year master lease […]
Capital Funding Group closed $10.9 million in financing for a 99-bed skilled nursing facility in California on March 30, on behalf of a nationally recognized borrower. The funding supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. “We’re excited to announce this deal as it is a testament to […]
Three skilled nursing properties in Pennsylvania comprising 395 beds and 32 senior housing units were purchased for $39M, or $91,000 per unit. The seller, represented by Evans Senior Investments (ESI), exited the long term care industry. “The ESI Team was successfully able to showcase how a new regional owner/operator could eliminate the agency staffing issues […]
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 […]
TSOLife completed a $9 million Series A funding round for its AI-based business intelligence platform that translates and transcribes resident interviews and converts the information into consumable data. Data dashboards can be utilized by skilled nursing staff to look for actionable trends and insights. “TSO is the tip of the spear in gathering social insights […]
CareTrust REIT Inc. (NYSE: CTRE) funded a $24.9 million B-piece secured financing on a four-facility portfolio in the Southeast. The portfolio includes about 700 skilled nursing beds, according to CareTrust. “This loan begins a new relationship with this new Southeast operator,” CEO Dave Sedgwick said in a statement. “The operator has done a tremendous job […]
Eduro Healthcare has grown its Texas portfolio again, adding seven more skilled nursing facilities in the Waco and Austin metropolitan areas. This latest acquisition brings Eduro up to 42 buildings across 10 states. “Our Texas acquisition pipeline is full and robust, and I expect more buildings to join the Eduro team soon,” Owner Michael Bewsey […]
Evans Senior Investments (ESI) last week announced it represented an owner-operator in the $51.5 million sale of a 558-bed nursing home portfolio. Located in Southwest Colorado, the seven properties were built between 1957 and 2017; each bed is valued at $92,000. The buyer is an East Coast owner and operator looking to grow their presence […]
Greystone, a national commercial real estate finance company, provided $47 million in HUD-insured loans for five different skilled nursing transactions. The facilities were located in California, Connecticut, North Carolina and Ohio, and involved five different borrowers, according to a news release. Greystone provided an $8,264,000 loan for a 35-bed facility in San Diego; a $10,584,000 […]
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 […]
Evans Senior Investments (ESI) assisted in the sale of a large Florida skilled nursing community. Built in the 1960s, the 200+ bed facility features semi-private or three bed wards. The community was operating at a loss at the time of marketing with occupancy at 41%, according to a news release. Prior to the pandemic, the […]
Skilled nursing market activity continues to be robust despite regulatory tailwinds creating a potentially uncertain future for operators. Last August price per bed valuations were up $17,000 compared to 2020 for the skilled nursing industry, according to seniors housing and SNF brokerage Evans Senior Investments, and valuations have largely stayed at those levels so far […]
Blueprint announced the sale of Cobblestone Rehabilitation & Healthcare Center, a 59-bed skilled nursing facility in Moultrie, Ga., following the operator’s recent bankruptcy filing. The facility, which was previously owned by a New York-based investment firm, was sold to a local community-based teaching hospital, Colquitt Regional Medical Center. “Acquiring Cobblestone will allow us to expand […]
The Ensign Group (NASDAQ: ENSG) announced it acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler, Texas. In a separate transaction on the same day, Ensign affiliates acquired the operations of Amarsi Assisted Living, a 103-bed assisted living facility located in Glendale, Ariz. and Citadel […]
Evans Senior Investments (ESI) announced it represented the bankruptcy disposition of two skilled nursing communities in Florida tied to Consulate Health Care. The bankruptcy stemmed from a whistleblower case that resulted in a civil fraud judgment of $256 million, of which Consulate Health Care was ordered to pay $4.5 million. Both nursing homes operated under […]
Evans Senior Investments announced the sale of a 186-bed SNF in Indiana for $25 million or $134,000 per bed. The facility had historically been at 85% occupancy or above, but was not profitable at the time of marketing with census dropping to 72%. It was the seller’s only skilled nursing facility. The facility had a […]
Blueprint announced the sale of a large skilled nursing portfolio in Ohio this week for $145 million or roughly $73,000 per bed. The portfolio consists of over 2,000 skilled nursing beds spread across 17 facilities in the state. Originally purchased in 2018 by a joint venture between an experienced investor and a growing Ohio-based operator, […]
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 […]
Eduro Healthcare recently added two skilled nursing facilities to its Texas portfolio. The first facility, in Lockhart, Texas, closed for seven months due to damage from last year’s winter freeze. “We are excited to be the team to reopen Parkview Nursing and Rehab,” Eduro Healthcare Managing Partner Michael Bewsey said in a news release announcing […]
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