Greystone’s $72M Portfolio Deal; Formation’s 12-SNF Sale in VA; Strawberry Fields Grows to 70 SNFs

Greystone on Tuesday announced the successful closing of a nearly $72 million bridge loan used in the acquisition and refinance of a seven-building skilled nursing portfolio across North Carolina and Kentucky. The New York City-based lending and advisory firm extended 24-month payment terms on the $71.9 million bridge financing, along with a pair of six-month […]

Capital Funding Closes $18.5M Bridge Loan for Texas Portfolio; CCRC Plots New Skilled Nursing Development

Capital Funding Group announced its involvement in a $18.5 million bridge loan used to acquire a four-building skilled nursing portfolio in Texas. The deal, which closed in April, was intended as a step toward eventually refinancing the debt through the Department of Housing and Urban Development’s (HUD) 232(f) program. The portfolio, under the control of […]

Greystone’s $58M Hamptons Refinance; Monticello’s $38M Financing for 600 SNF Beds

Greystone on Wednesday announced the closing of a $58.8 million refinance loan for a skilled nursing facility in Southampton, N.Y. The 35-year loan was originated under the Department of Housing and Urban Development’s (HUD) 232 program, which allows investors and operators to refinance existing debt into non-recourse loans with lower fixed interest rates. The 280-bed […]

Greystone Courts Investors in India for New Skilled Nursing Development in FL

Investment in skilled nursing facilities has remained steady despite industry pressures, and one leading operational and investment firm has begun to look abroad for cash as it looks to expand. Greystone & Co., Inc. is pitching potential investors in India on a 180-bed skilled nursing development in the Orlando area under the federal government’s EB-5 […]

Greystone Lands $78.5M for New York Skilled Nursing Property; Eduro Enters Idaho

Greystone & Co. on Wednesday announced the origination of $78.5 million in financing for a 585-bed skilled nursing facility in the New York City suburb of Woodbury, N.Y. The firm originated the loan for the Cold Spring Hills Center for Nursing & Rehabilitation through the Department of Housing and Urban Development’s (HUD) health care lending […]

Plum Healthcare Lands $22.5M for New Development; $18.4M Bridge Financing for Kentucky Portfolio

Lancaster Pollard Mortgage Company arranged $22.5 million in development financing for Plum Healthcare Group, LLC to build a new skilled nursing facility in Walnut Creek, Calif. The Columbus, Ohio-based firm worked with a local banking partner on the transaction; Grant Goodman led the transaction for Lancaster Pollard Mortgage Co., along with Joe Munhall, who leads […]

Ensign Grows in Utah with 120-Bed Pickup; Greystone’s $14M Kansas Play

The Ensign Group (Nasdaq: ENSG) on Thursday announced the acquisition of Bella Terra Cedar City, a 120-bed skilled nursing facility in Cedar City, Utah. The transfer, which includes both the real estate and operations, became effective January 1, and the terms of the deal were not disclosed. Milestone Healthcare, Ensign’s Utah-based portfolio subsidiary, will operate […]

Greystone’s $24M Deal in the Bronx; SNF-to-Behavioral Conversion in Mass.

Greystone Lands Nearly $24M Loan for Bronx Building Lending and advisory firm Greystone originated a $23.9 million loan to refinance the 200-bed Eastchester Rehab & Health Care Center in the Bronx, N.Y. The transaction represents a permanent financing of the property through the Federal Housing Administration, with a 30-year term. Eastchester Realty Associates will use […]

Private Equity Must Be Nimble, Innovative to Succeed in Skilled Nursing

Tempted by demographic trends and a new reimbursement system, private equity has taken a keen interest in the skilled nursing industry over the past year. But executives at these investment vehicles would be foolish to think they can plug their existing models into nursing home business and expect the same kind of success they may […]

$32M Bridge Loan for TX Portfolio; Nursing Home Breaks Ground in Illinois

Greystone Provides $31.5M Bridge Loan for SNF Portfolio in Texas Greystone provided a $31.5 million bridge loan for a portfolio of four skilled nursing facilities in Texas. The non-recourse loan carries an initial term of 24 months with two six-month extension options; it also includes a floating interest rate and interest-only payments for the entire term. […]

Greystone Provides $100M in Financing for Two Centers Health Care SNFs

Greystone on Wednesday announced the origination of $100.75 million in loans, insured by the Department of Housing and Urban Development (HUD), to refinance two skilled nursing facilities in the state of New York. The loans were originated for Centers Health Care by Fred Levine, managing director in Greystone’s Monsey, N.Y. office. Centers has roughly 50 facilities […]

Diversicare Divests Three Kentucky Properties; Greystone’s $20.9M HUD Financing

Diversicare To Sell Three Kentucky Facilities for $18.7M Executives with the operator Diversicare Healthcare Services Inc. (Nasdaq: DVCR) signed an agreement to sell three Kentucky properties for a combined $18.7 million, Nashville Post reported. The sales are expected to close in the fourth quarter, and will cut Diversicare’s footprint in the state to 10 facilities. The […]

Greystone to Develop $21M Skilled Nursing Facility; Lancaster Pollard Secures $6.7M Refi

Greystone Healthcare Management to Develop $21M SNF in Florida Greystone Healthcare Management will develop a $21 million, 80-bed skilled nursing facility in Clermont, Fla. The 60,250 square-foot center will have 40 private suites and 20 semi-private rooms. Services will include specialized orthopedic, cardiac, and stroke rehabilitation programs, with an emphasis on higher-end “health care resort” touches. “The cornerstone […]

Ohio SNF Sells for $1.7M; Pittsburgh SNF Gets $19.5M Bridge Financing

Dayton, Ohio, Skilled Nursing Sells for Almost $1.7M The Forest View Care and Rehabilitation Center in Dayton, Ohio, was sold for almost $1.7 million, WHIO-TV reported on Oct. 11, citing property records. The facility was sold to Forestview Propco LLC by Sabra Health Vcare, according to the records. Forestview Propco has a Chagrin Falls, Ohio mailing address. Another nursing facility in […]

REIT Sell-Offs Drive HUD Lending in Skilled Nursing Space

The summer months have brought millions of dollars in skilled nursing refinancings and loans insured by the federal government. And though the overall activity level for loans from the Department of Housing and Urban Development (HUD) is roughly on par with the past few years, the ongoing regionalization in the space is a driver of much […]

Inside the Key Metrics Skilled Nursing Buyers Should Track Before Investing

Big-picture concerns about the skilled nursing industry haven’t slowed down transaction volume in the space, with nursing homes accounting for 55% of all deals in a second quarter that saw $6.3 billion in senior housing and care investments. The major real estate investment trusts (REITs) certainly played a role in that strong quarter, with multiple […]

$25M Skilled Nursing Facility Planned in Florida; Staged Portfolio Sale in OH

$25M Facility Grows in Florida Greystone Healthcare Management announced the development of a 120-bed skilled nursing facility in Lakeland, Fla., with a target opening date in late 2020. The $25 million project will bring skilled services to the Lake Gibson Village assisted and independent living community, with the goal of creating a “health care resort” […]

Skilled Nursing Facility’s Assisted Living Sell-Off; Greystone Provides $20.6M Loan

Greystone Provides $20.6M Refi to Staten Island SNF Greystone provided a $20.66 million permanent loan insured by the Department of Housing and Urban Development (HUD) to refinance the 238-bed Golden Gate Rehabilitation & Health Care Center in Staten Island, N.Y. The permanent Federal Housing Administration (FHA) financing for the skilled nursing facility carries a 35-year term and […]

$23.2M Loan for Florida Expansion; Ensign Acquires Idaho SNF

Greystone Provides $14.6M HUD-Insured Loan for Tarrytown Healthcare Facility New York City-based Greystone provided a $14.59 million permanent loan insured by the Department of Housing and Urban Development to refinance Tarrytown Hall Care Center in Westchester County, New York. The Federal Housing Administration financing carries both a 35-year term and amortization period at a low, […]

Greystone Adds Skilled Nursing Equity Capital Platform

Greystone, a New York-based real estate lending, investment and advisory company, launched Greystone Healthcare Investments, an extension of the firm’s existing health care real estate capital services. The new platform will focus on providing equity to health care facility owners, particularly post-acute care (PAC) and skilled nursing facilities — primarily through the sale-leaseback model, with Greystone […]