BALTIMORE — Capital Funding Group (CFG) has provided a $207.1 million bridge-to-HUD loan to 980Investments to support the partnership buyout of a portfolio of skilled nursing facilities in Florida. Together, the facilities total 1,423 beds across 13 properties. Additionally, Capital Finance LLC, a subsidiary of CFG Bank, provided $15 million in accounts receivable financing to support the working capital needs of the facilities. Andrew Jones and Ava Julio of Baltimore-headquartered CFG originated the bridge-to-HUD loan, and Jeffrey Stein of Capital Finance originated the accounts receivable working capital line of credit.
PITTSBURGH — Blueprint has arranged the sale of nine skilled nursing facilities located in metro Pittsburgh. Kadima Healthcare Group acquired the properties from Comprehensive Healthcare Management Solutions, which is currently undergoing restructuring following a Chapter 11 bankruptcy filing this May. The chief restructuring officer for Comprehensive Healthcare Management Solutions engaged Blueprint to handle the divestiture. Operated under two brands — Maybrook and Consulate — the facilities together comprise 930 licensed skilled nursing beds, 19 personal care beds and 15 independent living units.
EAGLES PASS, Texas — Berkadia has secured a $13 million bridge-to-HUD loan for the financing of a 104-bed skilled nursing facility located in Eagles Pass on the Mexican border. The name of the lender was not disclosed. The undisclosed borrower has operated the property since 2019 and will use the 18-month, interest-only financing to cover the cost to purchase the leased fee interest. Jay Healy of Berkadia Seniors Housing & Healthcare arranged the loan for a Fort Worth, Texas-based owner and operator of nursing homes. Berkadia also plans to secure the …
NEW YORK CITY — Multifamily and seniors housing bridge lending platform MONTICELLOAM LLC (MonticelloAM) has provided $87 million in bridge and working capital financing for a portfolio of skilled nursing facilities located in Florida. Proceeds from the loan, which features a 24-month term and two six-month extensions, were used to refinance existing debt on the properties. The portfolio comprises 450 skilled nursing beds across four properties. A $7 million working capital revolver will fund day-to-day operational expenses for the facilities. The borrower was not disclosed.
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De-Risking Elevator Emergencies: Why Senior Living Facilities Need Modern Elevator Communication Solutions
Any property owner knows the headaches that arise when an elevator malfunctions. In senior living facilities, such problems have the potential to escalate into a crisis very quickly. Emergency communications in senior care facilities are vitally important, not only to protect the health and safety of residents and visitors but also to minimize disruptions to staffing resources. If there is an emergency, that call has to go somewhere. In senior living facilities, that destination is often the nursing station. “We consistently hear about nursing shortages, with staff being pulled in …
PORTLAND, Ore. — Nonprofit Cedar Sinai Park has sold its namesake seniors housing campus totaling 246 units in southwest Portland. Situated within four miles of downtown Portland, the Cedar Sinai Park campus comprises Rose Schnitzer Manor, a 154-unit assisted living community; Robison Jewish Health Center, a 44-bed skilled nursing facility; and the Harold Schnitzer Center for Living, a 48-bed skilled nursing facility. Built in 2016, the Harold Schnitzer Center for Living also offers adult day care services. Rose Schnitzer Manor was constructed in 1998 and 2002, and Robison Jewish Health Center …
ALEXANDRIA, La. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Regency House Alexandria, an assisted living and skilled nursing community in Central Louisiana’s Alexandria, which lies on the south bank of the Red River. The seller was a local owner-operator. The buyer was a national owner-operator with an existing presence in Louisiana and experience with HUD’s transfer of physical assets (TPA) process, which involves the assumption of a HUD-insured loan. Regency House Alexandria consists of 10 assisted living beds and 60 skilled nursing beds and only accepts …
CHICAGO — MonticelloAM and its affiliates have provided $59.2 million in bridge and working capital financing for a portfolio of skilled nursing facilities in metro Chicago. Proceeds from the $52.2 million bridge loan were used for the acquisition of three skilled nursing facilities. The $7 million working capital revolver will be used to support the day-to-day operations across the properties, covering over 700 licensed beds. Karina Davydov, a managing director at MonticelloAM, originated the loan that carries a two-year term with two six-month extensions. “MonticelloAM understands the challenges borrowers are facing …
Assisted LivingCCRCContent PartnersFeaturesIndustry ContentMemory CareOperationsSkilled NursingTechnology
New Technology, Electronic Health Records Solve Problems in Post-Acute Care
Changing Medicare requirements for risk-based programs are putting new pressure on seniors housing operators and skilled nursing facilities that provide post-acute care (PAC) to people recently released from hospitals. Standards for the quality of care are becoming stricter just as innovations in record keeping, data analysis, voice recognition technology and smart room sensors are maturing. These new technologies — including many powered by artificial intelligence (AI) — combined with electronic health records (EHRs) can help operators adapt to the enormous changes coming to the seniors housing business. “We really put …
MARYSVILLE, Ohio — Senwell Senior Investment Advisors has brokered the sale of Memorial Gables, a 112-bed skilled nursing facility located in Marysville, approximately 34 miles northwest of Columbus in Union County. The buyer was an Ohio-based operator, which has more than 25 years of experience in Ohio’s senior care industry and operates numerous facilities across the state. Ohio. Union County was the seller of the facility, which had been operated as part of the Memorial Health system. Toledo, Ohio-based Senwell engaged more than 400 organizations nationally, with 68 signing non-disclosure …
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