Greystone Monticello on Monday announced the swift closing of $201.3 million in capital financing for a portfolio of New Jersey SNFs. The majority of financing – $191.3 million of it – was for a health care bridge loan, while $10 million was for a working capital facility on behalf of Peace Capital. Greystone, a private […]
Meridian Capital Group
Rising interest rates are inflicting pain on the skilled nursing sector, with tough discussions between capital providers and operators to come in 2023. But with more sophisticated operators serving higher-acuity residents than in the past, and Covid-19 changing perceptions of “stroke of the pen risk,” investors see an industry with attractive long-term prospects. “I’ve been […]
The Ensign Group Inc. (Nasdaq: ENSG) announced on Tuesday that it increased its credit facility by $250 million, reaching an aggregate of $600 million for the skilled nursing operator. The borrowings are supported by a lending consortium arranged by Truist Securities. The new facility matures on April 8, 2027, and includes a $400 million incremental […]
Meridian Capital Group last week announced the closure of $471 million in skilled nursing deals covering 36 buildings over the span of six weeks, according to the New York City-based finance and investment firm. The set of transactions brings the total 2020 financing haul for Meridian’s senior living housing and health care team to $1.5 […]
Harborview Capital Partners this week announced a raft of skilled nursing deals with a total of more than $191 million in acquisition and refinance loans. First up, the New York City-based real estate finance and advisory firm teamed with Meridian Capital Group to provide $93.7 million for the acquisition of 19 facilities in the western […]
Nursing home operators that have relied on government-backed financing for acquisitions and renovations can begin measuring time in two distinct eras: pre-Rosewood and post-Rosewood. The record-setting default on the Rosewood Care Centers portfolio, publicized in the New York Times, has prompted the Department of Housing and Urban Development (HUD) to take a harder line on […]
As more and more capital enters the skilled nursing sector, buyers and sellers have plenty of options when it comes to financing — and the market only stands to heat up as the Patient-Driven Payment Model continues to play out in practice. That’s according to Ari Dobkin, co-head of the senior housing and healthcare team […]
Meridian Capital Group this week announced its involvement in a 19-building skilled nursing portfolio deal that saw the New York City-based finance and investment firm provide $241 million in acquisition financing. The portfolio has a total of 2,175 beds, with locations in Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. Meridian’s managing directors, Ari […]
Peace Capital and its affiliated operator Complete Care Management acquired a 930-bed senior living and skilled nursing portfolio in the Ocean County, N.J. area in a $169 million deal. The transaction was financed by a $26 million mezzanine loan from the New York City-based private equity firm Northwind Group, and a $131 million senior financing […]
Hackensack Meridian Health, a New Jersey-based hospital system, acquired a trio of nursing homes in a $60 million deal designed to bolster its post-acute footprint. The Bergen Record first reported the news Tuesday. The 17-hospital network will operate the properties — Prospect Heights Care Center and Regent Care Center in Hackensack, N.J., and the West […]
The senior housing and health care team of Meridian Capital Group arranged for more than $500 million in financing for skilled nursing, independent living, and assisted living facilities with 17 transactions across 9 states in the first quarter of the year. The deals included $126 million in acquisition financing and equity for a 14-property SNF […]
Even though the federal government shutdown lasted 35 days, the effect on the skilled nursing financing landscape could last well into the spring and summer as officials work through the sizable backlog. The Department of Housing and Urban Development was unable to endorse loans during the partial government work stoppage that lasted from December into […]
Palmer Township, Pa., Recommends Application for New Building The Palmer Township Planning Commission recommended a conditional use application that would allow the construction of a four-story nursing home planned by developer Abe Atiyeh, The Morning Call reported. Atiyeh’s Pennsylvania Venture Capital (PVC) wants to build a 102-bed skilled nursing facility; without the conditional use approval, […]
Blueprint Health Care Announces Two-SNF Deal in Florida The Chicago-based Blueprint Health Care Real Estate Advisors assisted a publicly traded real estate investment trust (REIT) in selling two non-core assets in DeLand, Fla.: University Center East and University Center West. One of the skilled nursing facilities had been flagged as a Special Focus Facility by […]
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