KeyBank: Genesis, Next Healthcare Capital Paid $204M for 15 Welltower SNFs

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 […]

KeyBank Lends $36M for Four Properties; Former ManorCare SNF Sells for $5.8M

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 […]

KeyBank Provides $127.7M For Two Skilled Nursing Portfolios

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, […]

Skilled Nursing Poised to Become ‘Biggest, Cheapest Game in Town’

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 […]

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 […]

KeyBank Provides $67.2M Financing for West Virginia SNF Portfolio

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 Breaks HUD Financing Record for New York Nursing Home

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 […]

Skilled Nursing Transactions: Greystone, Ensign, KeyBank

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 […]