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 […]
Greystone
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 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 […]
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 […]
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 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 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 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 […]
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 […]
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 […]
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 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” […]
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 […]
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, 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 […]
Greystone Closes $75M Loan for Acquisition of 561-Bed Portfolio Greystone, a New York-based commercial real estate lending, investment and advisory company, provided a $75 million loan for the Optima portfolio of three skilled nursing and rehabilitation facilities in the New York City metropolitan area. The loan, insured by the Department of Housing and Urban Development […]
As the incentive for operators to take on residents with more complex health issues grows, major skilled nursing players see a path forward in boosting their clinical capabilities. Custodial long-term care is on the way out, Sabra Health Care REIT (Nasdaq: SBRA) CEO Rick Matros said last year at a major industry conference. Meanwhile, skilled nursing provider […]
As the shift to value-based payments and managed care grows, data shows that skilled nursing providers are seeing revenue per patient under these agreements slide as the patient mix increases. The National Investment Center for Seniors Housing (NIC) found that managed Medicare patient mix at standalone skilled nursing facilities has been growing steadily. In the […]
NHI Purchases Texas SNF for $14.4M National Health Investors, Inc. (NYSE: NHI) acquired a a 121-bed skilled nursing facility (SNF) in Waxahachie, Texas for $14.4 million. The facility will be leased to an affiliate of The Ensign Group. It was added to the existing portfolio of 16 Ensign facilities across the state. CarDon & Associates Adds Lincoln Hills […]
Construction: Planned Non-Profit’s Plan for $70 Million CCRC in N.H. Moves Forward A non-profit’s plan to build a new 222-unit continuing care retirement community (CCRC) in Durham, N.H., is steadily moving forward. RiverWoods Group is planning to build the CCRC on an 11-acre plot in the city, Foster’s Daily Democrat reported. As planned, the CCRC would […]
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