Skilled Nursing

Northfield-Retirement-Community_Northfield-Minn

Vivie Adds Northfield Retirement Community to Portfolio

by Hayden Spiess February 21, 2025

NORTHFIELD, Minn. — Vivie has acquired Northfield Retirement Community in Northfield. Opened in 1969, the community offers a full continuum of care, including independent living, assisted living, memory care, skilled nursing and rehabilitation. Vivie’s portfolio comprises 34 communities, as well as several home health and hospice offices. In addition to its senior living communities, Vivie — formerly Knute Nelson and Walker Methodist — provides home health care, care management, rehabilitation and hospice across Minnesota, North Dakota and Wisconsin.

February 21, 2025

Assisted Living California Finance Memory Care News Skilled Nursing

Forbright Provides $44M HUD Financing for 318-Bed Facility in California

by Hayden Spiess February 18, 2025

SAN JOSE, Calif. — Forbright Bank has provided a $44.2 million HUD loan to finance a 318-bed skilled nursing, assisted living and memory care facility located in the San Jose area of California. Provided under the HUD 232/223(f) program, the 35-year fully amortizing term loan will be used to refinance existing Forbright Bank bridge and partnership debt, as well as cover the cost of recent capital expenditures and critical repairs. Forbright originally provided acquisition financing and a line of credit for working capital for the undisclosed borrower in 2022.

February 18, 2025

Acquisitions News Skilled Nursing Texas

SLIB Brokers 120-Bed Skilled Nursing Facility in Lubbock, Texas

by Hayden Spiess February 5, 2025

LUBBOCK, Texas — Senior Living Investment Brokerage (SLIB), has brokered the sale of Bender Terrace, a skilled nursing facility located in Lubbock. Situated on 2.7 acres, the property comprises roughly 45,000 square feet and 120 beds. A local independent owner sold the facility to a national owner-operator. A regional operator was leasing the property at the time of sale. Matthew Alley and Ryan Saul of SLIB arranged the transaction.

February 5, 2025

Finance New Jersey News Skilled Nursing

MonticelloAM Provides $39M Financing for Two Skilled Nursing Facilities in New Jersey

by Hayden Spiess February 5, 2025

NEW YORK CITY — MonticelloAM has provided $39 million in bridge and working capital financing for two skilled nursing facilities in New Jersey. The borrower will use the $38 million floating-rate senior bridge loan to consolidate previous loans and reduce its cost of capital and will use the $1 million working capital facility to cover the day-to-day needs of the facilities. Together, the properties total 300 skilled nursing beds. “The MonticelloAM team did a remarkable job closing this transaction in 45 days to meet their timeline, underscoring our commitment to our …

February 5, 2025

Acquisitions Nevada News Skilled Nursing

Joint Venture Sells 121-Bed Skilled Nursing Facility in Henderson, Nevada for $33M

by Hayden Spiess January 29, 2025

HENDERSON, Nev. — A joint venture between CREC Real Estate and The Calida Group has sold Coronado Ridge Skilled Nursing and Rehabilitation Center, a skilled nursing facility in the Las Vegas suburb of Henderson, for $33 million. Completed in 2017, the facility totals 121 beds across 90 resident rooms. The 68,873-square-foot property is situated on 2.3 acres across from a 132-unit seniors housing community and a 62-unit memory care facility. JLL’s Seniors Housing Capital Markets team, in conjunction with Mark Wintner of JLL, represented the seller in the transaction.

January 29, 2025

Acquisitions News Skilled Nursing Tennessee

CareTrust REIT Acquires 13 Skilled Nursing Facilities in Tennessee for $176M

by Hayden Spiess January 14, 2025

SAN CLEMENTE, Calif. — CareTrust REIT has acquired 13 skilled nursing facilities in Tennessee for $176 million, as the second phase of a portfolio transaction in the state. California-based CareTrust purchased the properties through a joint venture arrangement with a third-party healthcare real estate owner. Each of the 13 facilities will be operated by existing CareTrust tenants under new, long-term master lease agreements. Affiliates of the Ensign Group will operate six of the facilities, with affiliates of Links Healthcare Group operating the remaining seven. The portfolio transaction totals $421 million and …

January 14, 2025

Acquisitions Illinois Independent Living Memory Care News Skilled Nursing

Continuum Brokers $42M Sale of Senior Living Community in Metro Chicago

by Hayden Spiess December 30, 2024

BARTLETT, Ill. — Continuum Advisors has brokered the $42 million sale of The Oaks at Bartlett, a senior living community located in Bartlett, roughly 35 miles northwest of downtown Chicago. Built in 2007, the property totals 283 units, with 10 cottages, 154 independent living apartments, 16 memory care units and 54 skilled nursing units. Michael Flanagan of Flanagan & Associates served as the receiver for the property, which recently defaulted on its bond obligations. Certus Living has operated the community since the default. David Kliewer and Jay Jordan of Continuum arranged …

December 30, 2024

Finance New York News Skilled Nursing

MonticelloAM Provides $400M Financing for 2,900-Bed Skilled Nursing Portfolio in Kentucky, Tennessee

by Hayden Spiess December 23, 2024

NEW YORK CITY — MonticelloAM has provided a $400 million bridge loan for the financing of a skilled nursing portfolio located in Kentucky and Tennessee. Huntington National Bank served as joint lead arranger in the financing. The portfolio totals 2,900 beds across 29 facilities. The borrower was not disclosed.

December 23, 2024

Acquisitions Florida News Skilled Nursing

SLIB Brokers Sale of 118-Bed Skilled Nursing Facility in Pensacola, Florida

by Hayden Spiess December 23, 2024

PENSACOLA, Fla. — SLIB has brokered the sale of a 118-bed skilled nursing facility located in Pensacola. A publicly traded REIT sold the property to an owner based in the Northeast. Bradley Clousing and Daniel Geraghty of SLIB arranged the transaction.

December 23, 2024

Acquisitions News Pennsylvania Skilled Nursing

SLIB Brokers $11M Sale of Skilled Nursing Facility Portfolio in Metro Pittsburgh

by Hayden Spiess December 20, 2024

PITTSBURGH, Pa. — Senior Living Investment Brokerage (SLIB) has brokered the $11 million sale of a skilled nursing facility portfolio located in Pennsylvania. Situated primarily within metro Pittsburgh, the portfolio comprises 299 beds across five properties. Originally built between 1964 and 1992, the portfolio was first marketed in fall 2023. Ryan Saul and Toby Siefert of SLIB represented the seller, Guardian Healthcare, in the transaction. According to SLIB, Guardian Healthcare is currently in bankruptcy proceedings, and the properties had struggled financially prior to the sale. A regional owner-operator was the buyer.

December 20, 2024

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