The skilled nursing market was anything but quiet in 2021 and some of the top lenders in the space expect that activity to continue despite persisting staffing challenges that operators now face. “We’re definitely seeing more bridge lending, especially if the owner-operator is proven. As far as new construction, we are seeing an uptick in […]
KeyBank Real Estate Capital
One week after a $750 million unitranche loan program was announced between KeyBank Real Estate Capital and Welltower, the targeted fund for owners of independent living, assisted living and skilled nursing facilities is open for business and ready to compete with debt funds for clients. “This is a program that will allow us to do […]
KeyBank Real Estate Capital has established a $750 million unitranche loan program in partnership with Welltower Inc. (NYSE: WELL). The health care real estate fund will provide first mortgage financing on skilled nursing and seniors housing projects, according to a press release announcing the program. A unitranche loan blends senior and junior debt pricing and […]
Chicago-based specialty investment bank Ziegler announced this month it closed on $85,535,000 Series 2021 Bonds for a not-for-profit corporation with over 30 faith-based human service programs throughout New England. Part of the deal included Fair Havens, which owns and operates Quaboag Rehabilitation and Skilled Care Center, which has a total of 147 skilled nursing beds; […]
Eagle Arc Partners, formerly known as BM Eagle Holdings, has acquired 20 skilled nursing facilities — the majority of which are located in Florida, along with properties in Georgia and Mississippi. The price of the sale was not disclosed; two operators who were also not disclosed partnered with Eagle Arc on the sale. The process […]
Walker & Dunlop announced a three-facility financing deal with a total price tag of $37 million, covering a pair of skilled nursing facilities and a supportive living property. The Bethesda, Md.-based real estate finance company secured a $14.9 million refinance on The Grove Fox Valley, a 156-bed SNF in Aurora, Ill, and a $14.9 million […]
Skilled nursing operators with a strong regional focus and market presence are attractive to potential investors and capital partners, but ultimately the realities of the market will trump even the best operator. The operator-driven nature of the SNF field makes the people involved in a given facility paramount, but investors can’t overlook how susceptible nursing […]
LTC Properties (NYSE: LTC) this week announced a $33 million portfolio acquisition that included a $13.5 million skilled nursing facility in Texas. The Westlake Village, Calif.-based real estate investment trust (REIT) purchased a 140-bed skilled nursing center in Longview, Texas, operated by HMG Healthcare of The Woodlands, Texas. HMG has a 10-year, triple-net lease on […]
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 […]
White Oak Healthcare Finance on Tuesday announced its role in funding a $241 million senior credit facility for a group of 19 skilled nursing facilities. The portfolio consists of more than 2,000 beds across six states: Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. A spokesperson for White Oak, a San Francisco-based lender, confirmed […]
KeyBank Real Estate Capital secured $45 million in Federal Housing Authority (FHA) loans for the refinancing of three skilled nursing facilities in the state of Texas. The loans were $16 million for the 120-bed Regency-Windsor Calallen in Corpus Christi, $14.5 million for the 120-bed Regency-Bastrop Nursing & Rehabilitation Center in Bastrop and $14 million for […]
One day after Genesis Healthcare (NYSE: GEN) announced a joint venture to acquire 15 skilled nursing facilities from its landlord, the main lender in the deal put a price tag on the transaction: $204 million. KeyBank underwrote and closed a $142.1 million loan to help Genesis and its deal partner, the New York City-based Next […]
As occupancy levels continue to fall in skilled nursing facilities, some providers will have to think outside the box — and sometimes outside their walls — to make the best use of their space and their resources. But they might have more flexibility to do that in part because of the different roles that rural […]
KeyBank Secures $36.3M in Ohio for Foundations KeyBank Real Estate Capital financed Foundations Health Solutions’ $36.3 million acquisition of four skilled nursing facilities in Ohio, the lender announced earlier this week. The 442-bed portfolio is spread across the Buckeye State, with the properties built between 1961 and 1984. KeyBank funded the deal through the Federal […]
Two skilled nursing portfolios in Texas and Nevada secured financing from KeyBank Real Estate Capital totaling $127.7 million. The loans serve as a bridge to Department of Housing and Urban Development (HUD) financing for the portfolios. The SNF portfolios are joint ventures led by Capital Senior Ventures and BlueMountain Capital Management. For the 16-property Texas portfolio, […]
In an industry where a coming wave of customers seems to be permanently just out of reach, skilled nursing facilities have to be braced for some short-term pain. But if they take charge of their strategies and relationships, it’s possible for them not just to survive, but to thrive. That was the message from a […]
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 […]
KeyBank Real Estate Capital provided $67.2 million in financing for a three-property skilled nursing portfolio in West Virginia, through the Federal Housing Administration’s 232/223(f) loan program. The facilities are include Marmet Center in Marmet, Cedar Ridge Center in Sissonville and Willows Center in Parkersburg. All of them are operated by Genesis Healthcare (NYSE: GEN). They have a […]
KeyBank Real Estate Capital secured $127 million in Federal Housing Administration (FHA) 232/223(f) financing for a Manhattan skilled nursing facility. It was the largest single-asset financing ever insured by the U.S. Department of Housing and Urban Development (HUD) in the FHA 232 program, which helps finance nursing homes, assisted living facilities and board and care facilities. The loan proceeds […]
Greystone Provides $23.5M HUD Loan for Suburban New York SNF Greystone, a New York City-based real estate lending, investment and advisory company, provided a $23.52 million permanent loan insured by the U.S. Department of Housing and Urban Development (HUD) to refinance The Willows at Ramapo Rehabilitation and Nursing Center in Suffern, N.Y. The long-term Federal Housing Administration (FHA) financing has […]
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