The sale of Petersen Health Care’s properties will now proceed after a deal was reached with one of its lenders to allow a court-appointed receiver to maintain operations of the nursing home giant’s eight Illinois facilities. Among the largest nursing home operators in the nation, Petersen filed for bankruptcy in March. The sale of these […]
Walker & Dunlop
North Shore Manor Inc. in Loveland, Colo. is awaiting approval for a proposed five-year repayment and reorganization Chap. 11 bankruptcy plan submitted to the U.S. Bankruptcy Court in Denver. Majority stakeholders of the 120-bed nursing home said they could repay the majority of obligations and shore up operations over five years, according to a report […]
Mergers & acquisitions activity is expected to remain “exorbitant,” and “voluminous” in the second half of the year for the nursing home industry despite higher interest rates, with transfer times slowed slightly by state regulations. This is the view held by industry brokers who spoke to Skilled Nursing News on the state of current deal […]
The Federal Reserve’s decision to raise interest rates again by 25 basis points on Wednesday will likely slow deal making in the nursing home sector, especially in the aftermath of the Silicon Valley Bank’s (SVB) closure last week and its impact on regional banks. Experts told Skilled Nursing News that it’s a good thing, however, […]
Walker & Dunlop closed $1.3 billion in long-term care and seniors housing deals during the first half of this year, the company announced this week. The sales mark a “milestone” for the Walker & Dunlop team, marking the highest recorded sales for a comparable timeframe, and signifies the momentum in the market nationwide, according to […]
Blueprint Healthcare Real Estate Advisors helped facilitate the sale of a 92-bed skilled nursing facility located in Colville, Wash. Pinewood Terrace was a “unique opportunity” for a regional owner/operator to purchase the facility for an “appealing price per bed with assumable attractive HUD financing,” according to a news release. Skilled nursing operator Cascadia Healthcare ultimately […]
While types of financing available to nursing homes have remained relatively consistent throughout the pandemic, the number of lenders has fluctuated, capital providers have said. In recent months more competition has come back into the skilled nursing marketplace, VIUM Capital Senior Managing Director Tony Ruberg told Skilled Nursing News, with larger players ready to be […]
The COVID-19 pandemic continued to put pressure on an already strained skilled nursing industry in 2021. The next 12 months will be yet another test of resilience. Looking ahead to 2022, SNFs must stay nimble and inventive to not only survive but thrive. Private equity will continue to lead the nursing home transaction market pack, […]
This year was another rollercoaster for the skilled nursing industry as operators – and truthfully the nation alike – went from the tail end of another covid surge, to the widespread availability of vaccines, then considerable optimism and a possible light at the end of the tunnel, back to another COVID-19 surge and as I’m […]
Just like with COVID-19 infection, no one was immune when it came to senior housing operators and the subsequent financial challenges created by the pandemic. It affected every community type – all sizes, all business models— including skilled nursing. All have been struggling with occupancy. Recent numbers from CliftonLarsonAllen show that as of January 2021, […]
White Oak Healthcare Finances $25 Million for Aspen Skilled Healthcare White Oak Healthcare Finance LLC announced it funded a $25 million credit for Aspen Skilled Healthcare, Inc last week. White Oak will reportedly act as the sole lender and administrative agent of the asset-based senior credit facility and with the funds being used to finance […]
The total price per bed for nursing homes rose almost 22% year over year for the first quarter of 2021, reaching the second-highest price point for the sector ever recorded, according to the JLL Senior Housing & CARE Investor Survey and Trends Outlook report released Wednesday. The average price per bed for nursing homes hit […]
Walker & Dunlop real estate brokers Josh Jandris and Mark Myers laid out skilled nursing industry trends they’re seeing right now, pointing to a continued frenzy of transactions — with publicly traded real estate investment trusts being the sellers and large private companies as buyers. Health care systems are divesting their skilled nursing facilities too, […]
The pandemic recovery continues to present unsettling conditions for the economic wellbeing of older and somewhat struggling skilled nursing facilities. Steady stimulus funding provided by the federal government and other sources such as the CARES Act has helped sustain some communities that have been met with rising expenses and falling census. December 2020 occupancy rates […]
Walker & Dunlop this week announced the completion of $172 million in financing for a seven-building skilled nursing portfolio across the Northeast and the Midwest. Four of the properties were refinanced through the Department of Housing and Urban Development’s (HUD) 232/233 program, with the remaining three undergoing HUD 232 loan modification. The portfolio consisted of: […]
A federal lending program for nursing homes and other senior care facilities is once again under the microscope, with Barron’s reporting last week that Washington has backed financing for “dozens of poorly run nursing homes.” The U.S. Department of Housing and Urban Development (HUD)’s Section 232 programSection 232 provides mortgage insurance for long-term care facilities, […]
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 […]
The Ensign Group, Inc. (Nasdaq: ENSG) acquired the real estate and operations of the 82-bed skilled nursing facility The Medical Lodge of Amarillo in Amarillo, Texas, effective November 1. Kevin Niccum, President of Keystone Care LLC, Ensign’s Texas-based subsidiary, said in a release announcing the deal that the company expects the facility to be accretive […]
In the months leading up to the implementation of a new Medicare payment model for skilled nursing facilities, various voices predicted an exodus of smaller, mom-and-pop operators who’d rather call it a career than adapt to a completely new reimbursement system. But only a few months after the Patient-Driven Payment Model (PDPM) took effect last […]
Walker & Dunlop facilitated a $16.41 million financing for three skilled nursing facilities in central Colorado through the Department of Housing and Urban Development’s (HUD) LEAN 232/233(f) refinance program, which provides long-term and reduced-rate financing for specialty healthcare facilities. The facilities were the 99-bed Pioneer Health Care Center in Rocky Ford, Colo., the 56-bed Paonia […]
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