Tuesday, December 5, 2023
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Skilled Nursing

AcquisitionsCaliforniaNewsSkilled Nursing

Ziegler Negotiates $35.6M Sale of Eskaton Skilled Nursing Portfolio in Metro Sacramento

by Jeff Shaw

SACRAMENTO, FAIR OAKS and CARMICHAEL, Calif. — Ziegler has acted as exclusive financial advisor to Eskaton Properties Inc. on the sale of a skilled nursing portfolio in the greater Sacramento area.  The 391-bed portfolio consists of Eskaton Care Center Fair Oaks, Eskaton Care Center Greenhaven and Eskaton Care Center Manzanita. The communities are in close geographic proximity of each other.  Fair Oaks was built in 1983, and has 148 beds on a three-acre lot in Fair Oaks. Greenhaven was built in 1978, and has 148 beds on a 4.92-acre lot …

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FinanceKentuckyNewsSkilled Nursing

CFG Provides $7.2M HUD Refinancing for Skilled Nursing Facility in Kentucky

by Jeff Shaw

KENTUCKY — Capital Funding Group (CFG) has provided a $7.2 million HUD-insured loan to refinance debt on a 162-bed skilled nursing facility in Kentucky.  CFG executed the original bridge loan, which allowed the borrower to acquire the facility’s real estate; the facility has since stabilized and is now exiting with permanent HUD financing. Further details on the property and borrower were not disclosed. Patrick McGovern originated the transaction for the CFG.

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AcquisitionsMassachusettsNewsSkilled Nursing

Blueprint Negotiates Sale of 53-Bed Skilled Nursing Facility in Boston for Apartment Conversion

by Jeff Shaw

BOSTON — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 53-bed skilled nursing facility in Boston. The asset was originally constructed in 1960 and located just south of downtown. The building was well maintained, according to Blueprint, and spans over 18,000 square feet and a variety of unit configurations, along with close proximity to several large mixed-used developments and regional hospitals. The buyer was a family office that intends to convert the property into multifamily apartments. Details on the seller and price were not disclosed. Kyle Hallion …

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FeaturesNewsSkilled Nursing

Skilled Nursing Occupancy Increased 59 Basis Points in August

by Jeff Shaw

ANNAPOLIS, Md. — Skilled nursing occupancy nationwide increased 59 basis points from July to August, reaching 82.3 percent at the end of the month. That’s according to a blog post this week by Bill Kauffman, senior principal with the National Investment Center for Seniors Housing & Care (NIC). The Annapolis-based organization is the main source of data tracking for the seniors housing industry. The new skilled nursing occupancy number is an increase of 142 basis points from the pandemic low of 75 percent in January 2021. Occupancy hovered around 81 …

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ArizonaFinanceNewsSkilled Nursing

CFG Funds $10.9M HUD Refinancing for Skilled Nursing Facility in Arizona

by Jeff Shaw

ARIZONA — Capital Funding Group (CFG) has provided a $10.9 million HUD loan, which refinances an existing bridge loan on a 112-bed skilled nursing facility in Arizona. CFG originally arranged the bridge loan as well.  Tommy Dillon originated the transaction for CFG. No further details were provided.

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MassachusettsNewsOperationsSkilled Nursing

ESI Arranges a Lease Transaction for a Massachusetts Skilled Nursing Portfolio

by Jeff Shaw

MASSACHUSETTS — Evans Senior Investments (ESI) has negotiated a new tenant for an institutional landlord in the state of Massachusetts, finalizing a five-year lease for a 500-bed skilled nursing portfolio. The portfolio comprises five communities. Prior to the onset of COVID-19, the portfolio exhibited a stabilized annual revenue of $46 million and a census of 90 percent. At the time of marketing, the portfolio was 76 percent occupied and losing over $2 million in net operating income annually. However, the portfolio’s strong historical performance highlighted great potential to bring occupancy …

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AcquisitionsFinanceGeorgiaNewsSkilled Nursing

CFG Provides $22.4M Acquisition Loan for Three Skilled Nursing Facilities in Georgia

by Jeff Shaw

GEORGIA — Capital Funding Group (CFG) has provided $22.4 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities.  The facilities, which are located in Georgia, total 338 beds. Details on the buyer, seller, price and locations were not disclosed. James Zabel originated the transaction.

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AcquisitionsCaliforniaFinanceNewsSkilled Nursing

CFG Funds $30.3M Acquisition Loan for Skilled Nursing Portfolio in California

by Jeff Shaw

CALIFORNIA — Capital Funding Group (CFG) has provided a $30.3 million loan for the acquisition of three skilled nursing facilities.  The facilities, which are located in California, support 396 beds. The buyer was identified only as “a nationally recognized borrower.” The transaction marks one of the first acquisitions since the inception of a new approval process with the California Attorney General. Under the new state law, any transaction involving the sale or transfer of control of a nonprofit healthcare facility is required to secure the approval of the attorney general. …

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EyeWatch LIVE Seniors Monitoring panel
Assisted LivingFeaturesIndustry ContentMemory CareOperationsPeopleSkilled NursingTechnologyVideosWebinars

Webinar — Inside the Resident Room: In-Unit Data Helps Seniors Housing Operators Improve Safety & Increase Profitability

by Sarah Daniels

The Oct. 17 webinar “Inside the Resident Room: In-Unit Data Helps Seniors Housing Operators Improve Safety & Increase Profitability“ focused on how resident room data can help seniors housing operators improve patient outcomes and reduce operating costs. During this brief, one-hour discussion, seniors housing industry experts talked about some of the most challenging and important topics facing the world of senior living: staffing crises, ballooning costs, data gathering tactics and increasing resident safety while maintaining their privacy. Listen in to learn more about senior living technology and its role in fall prevention, …

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