Senior Living Non-Profits Charged 3.3% More for Skilled Nursing in 2018

The cost of care at non-profit senior living facilities rose the most for skilled nursing residents in 2018, according to a new survey, but operators are still feeling the pain across all levels of care. The Chicago-based specialty investment bank Ziegler found that fees for skilled nursing services at non-profits rose 3.3% in 2018, based […]

Non-Profits Exit Skilled Nursing Amid Consolidation, Strong M&A Activity

Non-profits have felt particularly squeezed by recent skilled nursing pressures on multiple fronts, prompting them to sell off their skilled facilities — typically to for-profit entities. Many of them are feeling the pressures of staffing, Luann Gutierrez, Greystone & Co.’s managing director for bridge finance, told SNN. In addition, the non-profits that have just one or […]

Ziegler Closes $200 Million in Bonds for Skilled Nursing, CCRC Deals

Specialty investment bank Ziegler this week announced the successful closing of $200.6 million in bonds to fund the acquisition and renovation of skilled nursing facilities and continuing care retirement communities (CCRCs). The Trousdale Foundation Properties Series 2018 bonds were issued in various series. Trousdale is a Massachusetts chartered not-for-profit corporation formed in 1989 that, before this […]

Skilled Nursing Continues to Drag on CCRCs’ Future

A major financial ratings service released an overall stable outlook for the continuing care retirement community (CCRC) market over the coming year, but expressed nagging doubts about the effects of skilled nursing on the industry’s overall health. For the sixth consecutive year, Fitch Ratings issued a “stable” credit rating projection for the CCRC sector, which […]

Five-Property Lease in North Carolina; Ziegler Secures $52M Refinancing

Blueprint Announces Five-SNF Portfolio Lease in North Carolina Blueprint Healthcare Real Estate Advisors announced the portfolio lease of five North Carolina skilled nursing facilities with a total of 638 beds. The owner was looking to diversify its risk through sale or a new lease to a third-party tenant. Blueprint identified an owner-operator that saw the […]

Skilled Nursing Presence in CCRCs Remains Steady, But Drop Coming

The median number of skilled nursing units in continuing care retirement communities (CCRCs) has remained steady over the last five years, but a decline is coming as developers continue cut SNFs out of the equation. Among the nearly 2,000 CCRCs across the United States, there are a median of 72 skilled nursing units per site, […]

Traditional Lenders Take ‘Selective’ Approach to Skilled Nursing

Headwinds are ripping the skilled nursing industry from the ground up, and financing is no exception, according to a debt financing panel at the National Investment Center for Seniors Housing & Care Spring Investment Forum in Dallas. “We are being selective in our approach to skilled nursing and there’s no two ways about it,”  Jeff […]

Low-Profile Buyers Seize Moment in Skilled Nursing Sector

As larger chains and real estate investment trusts (REITs) downsize, smaller buyers have taken center stage in the skilled nursing acquisitions arena. In particular, there’s been an uptick in smaller buyers of skilled nursing facilities who keep a lower profile, at least as defined by their web presence. It’s not uncommon for these individuals or […]

Operators Bearish on Future of Standalone Skilled Nursing Facilities

Just 19% of senior housing operators think the future for standalone skilled nursing facilities looks “good” over the coming three years — while a plurality see a “poor” path ahead. Investment banking and advisory firm Lancaster Pollard on Tuesday released the results of its expansive senior housing and care survey, which collected the opinions of […]

Non-Profit Senior Living CFOs Worried About Skilled Nursing

Skilled nursing woes rank high on non-profit senior living executives’ list of worries for the coming year. The Chicago-based specialty investment bank Ziegler asked 160 chief financial officers — along with other financial professionals — in the non-profit senior living space to find out what’s keeping them up at night. After the usual suspects of […]

Regional Will Rule in Skilled Nursing Transactions This Year

Low occupancy, political and regulatory uncertainty, staffing crunches, and reimbursement pressures present a fraught landscape for skilled nursing players to navigate. But companies that are looking to sell — or buy— will have plenty of opportunities in 2018. And as they seek each other out, localization will be a major force. “The skilled nursing business […]

Skilled Nursing Pressures Forcing Non-Profits to Sell or Close

Headwinds in the skilled nursing industry have forced many non-profits to operate at a significant financial loss, to the point that SNF assets are becoming a drag on their overall health. That’s according to Lisa McCracken and Dan Revie, writing in Ziegler Investment Banking’s Senior Living Z-News, which covered the dispositions and closures of not-for-profit […]

Skilled Nursing Transactions: NHI, CarDon, Greystone, Ziegler

NHI Purchases Texas SNF for $14.4M National Health Investors, Inc. (NYSE: NHI) acquired a a 121-bed skilled nursing facility (SNF) in Waxahachie, Texas for $14.4 million.  The facility will be leased to an affiliate of The Ensign Group. It was added to the existing portfolio of 16 Ensign facilities across the state. CarDon & Associates Adds Lincoln Hills […]

Ziegler CEO Paprocki to Retire, Hermann to Take His Place

A major player in the skilled nursing and senior housing finance world will have a new CEO by spring. Ziegler’s board of directors announced that CEO Tom Paprocki will retire, effective March 31. Dan Hermann, who has been at Ziegler for 30 years and serves as head of investment banking, will assume the role of president […]

Skilled Nursing Transactions: Genesis, Ziegler, Centers Health Care

Genesis Nursing Home in Dayton Sells for $4.8M The 120-bed Genesis HealthCare New Lebanon Center was sold on Jan. 4 for $4.85 million to two limited liability companies: New Lebanon Propco LLC and New Lebanon Propco TIC II LLC. The Dayton Business Journal reported the sale, citing property records in Montgomery County, Ohio. Both companies list […]

Skilled Nursing M&A Crystal Ball 2018: Top Players’ Predictions

After a 2017 that saw a change in presidential administrations, continuing occupancy pressures, declarations that the industry is in a historic downward spiral, and the most sweeping tax overhaul in a generation, players in the skilled nursing mergers-and-acquisitions world might be wondering if 2018 could possibly bring even more turmoil. Earlier this week, Skilled Nursing […]

Skilled Nursing Transactions: Deals in Tennessee, Illinois, Ohio

Blueprint Announces Sale of Nashville SNF Blueprint Healthcare Real Estate Advisors, a Chicago-based advisory firm focused on health care real estate and senior housing, announced the sale of a 119-bed skilled nursing facility in Nashville, Tenn., for a purchase price of $16 million, or $134,454 per licensed bed. The deal was conducted for a public real estate […]

Major CCRC Finance Provider Mobilizes Against Tax Bill Threat

Industry groups and senior housing financing players are hoping a last-minute advocacy push can convince Congress to save a key funding mechanism for non-profit operators — but there are few guarantees as the Republican-backed tax bill goes to reconciliation. The House version of the GOP’s sweeping rewrite of the U.S. tax code includes the elimination […]