Pacifica Adds 563 Skilled Nursing Beds as RHF Pivots from Post-Acute

Privately owned real estate and private equity firm Pacifica Companies has added more than 560 skilled nursing beds to its portfolio in the $180.5 million acquisition of a 15-community portfolio from Retirement Housing Foundation, which is pivoting away from post-acute care. That’s according to an April 19 press release from Chicago-based specialty investment bank Ziegler, […]

‘Feel Like a Risk’: Nursing Home Operators Appear To Reduce Wage Increases Compared to 2023

Labor costs continue to be top of mind for nursing home operators as the workforce shortage persists and operators anticipate the finalized version of the federal minimum staffing rule. Operators reported average wage increases for their employees of 4.43% in 2023, dropping to 3.64% thus far for 2024, according to the Ziegler CFO Hotline survey […]

Nursing Home Reimbursement Pressure ‘Flat Out Profound,’ Necessitating Innovative Models

It’s becoming harder than ever to operate standalone skilled nursing facilities amid inadequate government funding, and innovative business models that deal with challenges, especially those related to staffing, have and will be borne from necessity. “Innovative models are going to present themselves in some way to stop this train,” said Dan Hermann, president and CEO […]

‘Tougher Every Day’: Nursing Home Operators, CCRCs Weigh in on Future of Skilled Nursing

Operating a skilled nursing facility today is considered a difficult business with regulations and reimbursement woes making the space “tougher every day.” As a result, some operators say they regularly budget a loss for skilled nursing services, and if it weren’t for other lines of business, skilled nursing would be unsustainable. This dire view of […]

Building off Its Annual Nursing Home List, Newsweek Unveils CCRC Rankings

As patient preference continues to shift away from nursing homes, public attention is increasingly on alternate modes of skilled nursing care as well, including continuing care retirement communities (CCRCs). Newsweek, for one, came out with a ranking of such communities in partnership with global market and consumer data firm Statista. The companies expect rankings to […]

Ensign Adds SNFs in Colorado, Washington; Los Angeles Group Purchases SNF for $11.5M

The Ensign Group (Nasdaq: ENSG) announced Wednesday that it has acquired Rehabilitation and Nursing Center of the Rockies to further strengthen its position in the skilled nursing and senior living sector in Colorado. The facility, a 96-bed skilled nursing facility based in Fort Collins, Colo., was acquired along with its operations and real estate by […]

Bloomfield Capital Closes $12.0M Senior Bridge Loan for Southern California SNF; PointClickCare Acquires Patient Pattern

Bloomfield Capital, direct lender and equity investor in commercial real estate assets, announced the closing of a $12.0 million senior bridge loan, which was used to refinance a maturing loan on a skilled nursing facility located in Southern California. The loan’s sponsor purchased and restructured multiple senior living assets throughout the Western U.S. and is […]

Capital Funding Group Executes $2.7B in 2022 Financings; Evans Senior Investments Completes $39M Sale

Three skilled nursing properties in Pennsylvania comprising 395 beds and 32 senior housing units were purchased for $39M, or $91,000 per unit. The seller, represented by Evans Senior Investments (ESI), exited the long term care industry. “The ESI Team was successfully able to showcase how a new regional owner/operator could eliminate the agency staffing issues […]

Nursing Home Giant Good Samaritan Society to Exit 15 States, Focus on Core Markets

The Evangelical Lutheran Good Samaritan Society, one of the largest skilled nursing providers in the United States, plans to consolidate its operations from 22 states to seven. Once the process is complete, the Sioux Falls, South Dakota-based Good Samaritan Society will have operations in South Dakota, North Dakota, Iowa, Minnesota, Nebraska, Kansas and Colorado. About […]

Transactions & Financings: Saber Takes on 6 Facilities; Ensign Adds 2 SNFs

Senwell advises on sale of 6 facilities to Saber Healthcare Senwell Senior Investment Advisors advised sellers on the sale of six facilities in North Carolina, made up of 691 licensed beds divided between five skilled nursing facilities and one assisted living facility, located across North Carolina. The sellers wanted to transition the property to a […]

Inside the Trends Driving Skilled Nursing Bed Reductions in 2022 and Beyond

While many owners in the skilled nursing space saw a reduction in beds this year, the biggest losers were overwhelmingly government entities and not-for-profit organizations, while for-profit entities have lost far fewer beds. In terms of bed reduction by location, rural markets largely took the hit, according to Lisa McCracken, director of senior living research […]

Arnie Whitman, Omega, Ziegler Lead $9M TSOLife Series A; ESI Closes Ohio SNF Deal

TSOLife completed a $9 million Series A funding round for its AI-based business intelligence platform that translates and transcribes resident interviews and converts the information into consumable data. Data dashboards can be utilized by skilled nursing staff to look for actionable trends and insights. “TSO is the tip of the spear in gathering social insights […]

CareTrust Funds $24.9M SNF Portfolio; ESI Arranges Nursing Home Sale in Indiana

CareTrust REIT Inc. (NYSE: CTRE) funded a $24.9 million B-piece secured financing on a four-facility portfolio in the Southeast. The portfolio includes about 700 skilled nursing beds, according to CareTrust. “This loan begins a new relationship with this new Southeast operator,” CEO Dave Sedgwick said in a statement. “The operator has done a tremendous job […]

Greystone Provides $47M in Financing for 5 SNFs; ESI Arranges Senior Care Portfolio Sale

Greystone, a national commercial real estate finance company, provided $47 million in HUD-insured loans for five different skilled nursing transactions. The facilities were located in California, Connecticut, North Carolina and Ohio, and involved five different borrowers, according to a news release. Greystone provided an $8,264,000 loan for a 35-bed facility in San Diego; a $10,584,000 […]

Ensign Acquires Texas Nursing Home; Lument Closes $87M Financing For 9 SNFs

The Ensign Group this week acquired the real estate and operations of a Texas skilled nursing facility. Park Manor of McKinney is a 138-bed nursing home located in McKinney, Texas. Standard Bearer Healthcare REIT, Ensign’s captive real estate company, acquired the real estate effective Aug. 1, according to a news release. The deal brings Ensign’s […]

Ziegler Closes $24,405,000 in Financing for Eliza Jennings; Blueprint Facilitates Sale of Minnesota SNFs

Specialty investment bank Ziegler closed on Series 2022A Bonds for Ohio-based not-for-profit senior care provider Eliza Jennings. Eliza Jennings owns and operates three senior living campuses with a combined total of 216 skilled nursing beds, 175 independent living apartments and villas and 89 assisted living units. The Renaissance, located on 88 acres in Olmsted Falls, […]

Operational and Financial Pressures Spur Skilled Nursing Deals, Cool Sellers’ Market

While the skilled nursing sector has seen a seller’s market the past couple years, brokers believe the pendulum is swinging the other way, toward more of an equilibrium and normalization of prices. Increased expenses tied to inflation, the ongoing staffing crisis and lackluster occupancy are all contributing to a less favorable market for sellers, while […]