VIRGINIA — Capital Funding Group (CFG) has provided a $19.8 million bridge-to-HUD loan to support the acquisition of a 120-bed skilled nursing facility in Virginia. Loan proceeds represented 100 percent of the acquisition and closing costs. Further details were not disclosed. Andrew Jones originated the transaction for Capital Funding Group.
EAU CLAIRE, Wis. — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight Dove Healthcare-owned seniors housing properties in Wisconsin. The portfolio totals 526 beds/units of skilled nursing and assisted living with regional concentration in and around Eau Claire. Five of the eight properties are located within an 11-mile radius and all within an approximate one-hour drive time. The portfolio consists of mostly five-star rated communities located in close proximity to all the major regional hospitals including HSHS Sacred Heart, Marshfield Clinic and Mayo Clinic-Eau Claire acute referral …
BETTENDORF, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Iowa Masonic, a 79-bed skilled nursing facility and 40-unit independent living community in the Davenport suburb of Bettendorf. The seller was a local nonprofit that sought to sell in order to turn the business over to a company with experience that could ensure the long-term viability of the facility. The buyer was a private owner with additional communities in Iowa. The price was not disclosed. Ryan Saul and Nick Cacciabando of SLIB handled the transaction.
PENNSYLVANIA — Capital Funding Group (CFG) has provided a $9.5 million HUD loan, which refinanced an existing bridge loan executed by CFG. The transaction supported a 173-bed skilled nursing facility in Pennsylvania. Further details on the property and borrower were not disclosed.
SLEEPY EYE and MAPLEWOOD, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Minnesota totaling 338 beds. The two campuses are named Sleepy Eye Care Center and Maplewood Care Center. Maplewood is an eastern suburb of Minneapolis, while Sleepy Eye is approximately 100 miles to the southwest. Sleepy Eye consists of 128 beds and was built in 1972 and 1986. The Maplewood campus consists of 149 beds and 61 units and was built in 1970 and 1995. The properties combined total 194,049 …
OKLAHOMA — Evans Senior Investments (ESI) has arranged the sale of a 95-bed skilled nursing community on behalf of a private owner-operator. The facility is located 85 miles south of Oklahoma City. The buyer was a private investor from the West Coast that has a long history of skilled nursing operations and property ownership. Subsequently, the new owner enlisted an operator from the surrounding area that aims to expand its footprint within the state of Oklahoma. Further details were not disclosed.
CHICAGO — Senior Living Investment Brokerage (SLIB) has arranged the sale of three skilled nursing properties in metro Chicago totaling 491 beds. The communities are the premier nursing homes in the area and include CMS 5-Star ratings and JCAHO accreditation, according to SLIB. The seller was a privately owned, family-run company that was looking to exit the skilled nursing space. After COVID and the evolution of the industry it became clear to the seller that this portfolio would thrive better with a new owner that had more communities with more …
SPARKS, Nev., and HARROGATE, Tenn. — The Ensign Group Inc. (Nasdaq: ENSG) has acquired the operations of Hearthstone Health and Rehabilitation, a 125-bed skilled nursing facility located in Sparks, and TriState Health and Rehabilitation Center, a 116-bed skilled nursing facility located in Harrogate. Ensign will operate both properties under an long-term, triple-net lease. These acquisitions bring Ensign’s growing portfolio to 299 healthcare operations, 27 of which also include senior living operations, across 14 states. Ensign subsidiaries, including Standard Bearer, own 113 real estate assets.
PLUM CITY, Wis. — G Capital Markets has arranged the permanent refinancing of a skilled nursing and assisted living facility in Plum City, a tiny village of fewer than 1,000 residents approximately 60 miles southeast of the Twin Cities. The property was originally built in 1987 and renovated in 2005, with an assisted living expansion built in 2014. The community features 65 beds in 41 private and semi-private units, with a ratio of 70 percent skilled nursing to 30 percent assisted living. The community has performed strongly with occupancy consistently …
ILLINOIS and MISSOURI — Evans Senior Investments (ESI) has secured a tenant and executed a 10-year lease agreement for a large skilled nursing and supportive living portfolio spanning across Illinois and Missouri. The portfolio comprises 13 communities located totaling over 1,600 licensed beds. The lease consisted of a ten-year term with a purchase option. Evans Senior Investments selected a regional Midwest group as the tenant. Neither the tenant nor landlord were disclosed.