The clock is ticking on the long-term care sector. Whether an operator is part of a larger organization, a continuing care retirement community (CRCC), or a standalone facility, industry headwinds are pushing leaders across the country to think more closely about what moving to private rooms would look like for their organization. For many that […]
Healthcare Transactions Group completed the sale of Bon Secours Mercy Health’s post-acute portfolios in Ohio and Florida. This marks the final phase of a divestiture process that began in November 2019. The Ohio portfolio included four skilled nursing facilities, four assisted living facilities and one independent living facility. The Florida portfolio was made up of […]
Ziegler announced it closed $27.5 million in Series 2022A and 2022B Bonds for the Lutheran Homes of South Carolina. The Luther Homes of South Carolina currently operates five life plan communities, three hospice offices and four non-medical in-home services throughout South Carolina that includes a total of 1,077 units – 409 independent living, 308 assisted […]
Vincennes, Ind.-based skilled nursing facility GentleCare of Vincennes was sold to The Strategies, an Indiana based owner/operator with other communities in the state, Senior Living Investment Brokerage announced. The 60 licensed bed, with 52 currently functional, facility reportedly has one of the longest running five-star designations in the state, according to SLIB. The seller, a […]
Blueprint announced the sale of three skilled nursing and long-term care facilities in Mississippi totaling 340 licensed beds to DAC Acquisitions, LLC. The portfolio’s owner, a New York-based investment firm, put the facilities up for sale after the operator filed for bankruptcy. Overall census declined throughout the pandemic but leveled out in late 2021 at […]
For-profit nursing home owners such as private equity firms and real estate investment trusts are under fire from the federal government — but current trends suggest that not-for-profit ownership alone is not a viable alternative to meet the needs of the United States’ aging population. Freestanding senior housing and care not-for-profits (NFPs) are closing altogether, […]
Blueprint announced the sale of Cobblestone Rehabilitation & Healthcare Center, a 59-bed skilled nursing facility in Moultrie, Ga., following the operator’s recent bankruptcy filing. The facility, which was previously owned by a New York-based investment firm, was sold to a local community-based teaching hospital, Colquitt Regional Medical Center. “Acquiring Cobblestone will allow us to expand […]
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 […]
CareTrust REIT (NASDAQ: CTRE) is growing in Illinois after acquiring the Imboden Creek Living Center, Gardens and Villas campus in Decatur, Ill. this month. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was roughly $13.1 million. The campus includes 95 licensed skilled nursing beds, 46 assisted living units and […]
Bank and finance company executives have found skilled nursing facilities (SNFs) to not only be increasingly changing hands in the last year, but are also changing from a tax-exempt, not-for-profit status to a for-profit facility. That’s according to commentary collected during an executive survey published by speciality investment bank Ziegler and the National Investment Center […]
The Ensign Group (NASDAQ: ENSG) announced it acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler, Texas. In a separate transaction on the same day, Ensign affiliates acquired the operations of Amarsi Assisted Living, a 103-bed assisted living facility located in Glendale, Ariz. and Citadel […]
Eduro Healthcare recently added two skilled nursing facilities to its Texas portfolio. The first facility, in Lockhart, Texas, closed for seven months due to damage from last year’s winter freeze. “We are excited to be the team to reopen Parkview Nursing and Rehab,” Eduro Healthcare Managing Partner Michael Bewsey said in a news release announcing […]
The skilled nursing market was anything but quiet in 2021 and some of the top lenders in the space expect that activity to continue despite persisting staffing challenges that operators now face. “We’re definitely seeing more bridge lending, especially if the owner-operator is proven. As far as new construction, we are seeing an uptick in […]
VIUM Capital closed multiple skilled nursing deals recently including a $21,250,000 acquisition loan for a Wisconsin-based continuing care retirement community and a $58 acquisition loan for a Michigan portfolio of five SNFs and one assisted living facility. The CRCC, Bria of Trinity, was purchased using bridge-to-HUD funding for a buyer looking to grow their presence […]
Greystone announced it closed a $450 million commercial real estate collateralized loan obligation (CLO) backed exclusively by bridge loans for health care projects. It marks the largest health care CLO ever recorded as Greystone bested its own mark of $300 million set back in 2018. The assets in the CLO consist of skilled nursing, assisted […]
Evans Senior Investments (ESI) announced the sale of a Pennsylvania portfolio in three separate transactions that consisted of eight long-term care communities for the combined purchase price of $150 million or $121,000 per functional bed. The first tranche of the portfolio included four communities totaling 661 licensed skilled nursing beds and 88 independent living cottage […]
National commercial real estate company Greystone provided $25,100,000 in bridge acquisition financing for a 582-bed seven-property portfolio in Missouri. The loan is interest only for the first two years and includes floating rate bridge financing. It features a 36-month term with two six-month extension options. Managing Directors Eric Rosenstock and Fred Levine originated the loan […]
Specialty investment bank Ziegler announced it closed $120 million Series 2021 bonds for a group that owns and operates 14 continuing care retirement communities (CCRCs) throughout California. The CCRCs consist of 2,188 residential living apartments, 477 assisted living apartments, 161 memory support suites and 656 skilled nursing beds. The bonds will be used to fund […]
Specialty investment bank Ziegler announced it closed $91,910,000 Series 2021A, Series 2021B and 2021C bonds for a Washington not-for-profit corporation that owns and operates a continuing care retirement community in Tacoma, Wash. The bonds will be used to fund an expansion project that will include the construction of 91 new independent living units, a new […]
Continuing care retirement communities are designed to offer a wide range of senior care services across multiple settings at their campuses, including skilled nursing. But, with occupancy recovery slowed and consumer trends changing the look of nursing homes and senior care nationwide, some CCRCs are forced to ask what the future of their skilled nursing […]
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