The financing of skilled nursing facility deals has taken a backseat to emergency health concerns amid the coronavirus crisis, but some transactions are still moving along — while the long-term state of the M&A landscape, along with the rest of the U.S. economy, remains unclear. Over the past week, Skilled Nursing News reached out to […]
Senior Living Investment Brokerage
The Ensign Group (Nasdaq: ENSG) acquired the operations of two skilled nursing facilities in Commerce City, Colo., effective March 1, the provider announced Tuesday. The two SNFs, the 105-bed Ridgeview Post Acute and the 83-bed Irondale Post Acute, will be subject to triple-net leases. “We are thrilled to add these two operations to our growing […]
When it comes to the buying, selling, and financial backing of skilled nursing facilities, the new chief development officer of Senior Living Investment Brokerage has seen all angles. Steve Gilleland, who joined the Glen Ellyn, Ill.-based SLIB at the beginning of the month, worked on the lending side of skilled nursing and senior housing in […]
The Portopiccolo Group recently expanded its skilled nursing ownership footprint with the assistance of Capital Funding Group, which bankrolled the acquisition of a Virginia facility and the refinance of a second property in Kentucky. The $14.5 million bridge-to-Department of Housing and Urban Development (HUD) loan allowed the Englewood Cliffs, N.J.-based Portopiccolo purchase Emporia Manor, a […]
Senior Living Investment Brokerage (SLIB) facilitated the sale of a 122-bed skilled nursing facility in Savannah, Ga., which was occupied by 88 residents at the time of sale. The 4.9-acre site may be expanded to use all of its licensed beds. “The seller ultimately selected the buyer whose future goals lined up well with the […]
Two skilled nursing facilities in Texas formerly operated by Senior Care Centers, which declared bankruptcy last year, were purchased by a New York-based owner-operator group for $20.5 million. The facilities, located in New Braunfels and in Round Rock, Texas, were each built in 2008 and have 128 licensed beds. The SNF in New Braunfels was […]
Regional Health Properties, Inc. (NYSE American: RHE) completed the sale of three SNFs in Oklahoma, Alabama, and Georgia to affiliates of MED Healthcare Partners LLC for $26.1 million in cash. The closing date on a fourth property involved in the deal, located in Oklahoma, was extended to August 28. Regional Health used the proceeds from […]
A pair of properties formerly operated by the troubled Dycora Transitional Health and Living chain in the Golden State have a new owner. Eduro Healthcare entered the California market with the acquisition of the two former Dycora properties in Fresno and Stockton, Calif. Michael Bewsey, managing partner at the Salt Lake City-based Eduro, characterized the […]
Cascade Capital Group expanded its footprint in a major way over the last month, buying a total of 15 skilled nursing and assisted living facilities in two separate transactions with a total purchase price of $130 million. The first deal, which closed May 1, saw Cascade pick up five skilled nursing buildings in Southern California, […]
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 […]
Senior Living Investment Brokerage facilitated the $12.1 million sale of two SNFs, one in Tennessee and one in Kentucky. The buyer was a real estate investment firm in the Northeast making its first long-term care facility acquisition; the seller was an independent owner-operator looking to exit the long-term care industry. The buyer also partnered with […]
A New York-based owner, operator, and investor picked up a pair of nursing homes in Maryland with the help of Healthcare Transactions Group. The Brinton Woods Post Acute Center and the Brinton Woods Health & Rehab Center at Arlington West were sold February 1, according to an announcement from Healthcare Transactions Group, a Reisterstown, Md.-based […]
Maryland Skilled Nursing Facility Sells for $11.66M Senior Living Investment Brokerage announced the sale of the Calvert County Nursing Center skilled nursing facility in Prince Frederick, Md., for $11.66 million. The seller was a non-profit with seven continuing care retirement communities (CCRCs) in Maryland, Pennsylvania, Oklahoma, and Tennessee. The buyer is an investor-operator partnership based […]
CareTrust Picks Up Former Non-Profit CareTrust REIT (Nasdaq: CTRE) last week announced the purchase of the Villas at Saratoga, a senior living community with 85 skilled nursing beds and 37 assisted living units in Saratoga, Calif. — a city to the southwest of San Jose. CareTrust will invest about $19 million in the property, including […]
StoneGate Announces Eight New Contracts in Oklahoma StoneGate Senior Living, a senior care and housing company based in Lewisville, Texas, added eight new properties to its lineup in Oklahoma, contracted from Southwest Healthcare. The communities offer a range of services, including skilled nursing and rehabilitation. As a result of the additions, StoneGate now contracts with […]
Welltower Subsidiary Pays $130M for South Florida Senior Living Facility Welltower Jefferson Propco TRS, a subsidiary of the Toledo, Ohio-based Welltower (NYSE: WELL), purchased the 527-bed senior living complex Stratford Court near Boca Raton, Fla., for $130 million, or $246,679 per unit. The site spans 447,948 square feet and includes independent living, assisted living, skilled nursing, and memory care. […]
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 […]
KeyBank Finances Kindred Sell-Off Deal KeyBank Real Estate Capital underwrote a $128 million loan for BM Eagle Holdings, the joint venture currently in the process of purchasing Kindred Healthcare’s (NYSE: KND) entire skilled nursing portfolio. The cash helped BM Eagle — a joint venture operated by affiliates of BlueMountain Capital Management, a New York City-based […]
New York State SNF to Close Due to Declining Occupancy Michaud Residential Health Services in Fulton, N.Y. is making plans to transfer its 64 residents and close by October 1. The 89-bed facility, which has been in operation since the 1970s, was previously owned by Oswego County, but was sold to not-for-profit St. Luke Health Services […]
Mid-Atlantic Health, Philly’s Largest SNF Operator, Exits The Timonium, Md.-based Mid-Atlantic Health Care made headlines last week when it exited the Philadelphia market, where it had previously been the largest provider of skilled nursing services. Now, the broker that helped negotiate the deal released a few extra details about the transaction. MIMA Healthcare of Lakewood, […]
Subscribe
Receive industry updates and breaking news from SNN.