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.
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 …
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.
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. …
ARIZONA — Capital Funding Group (CFG) has provided a $10.3 million HUD loan for a 94-bed skilled nursing facility in Arizona. The new loan refinances an existing bridge loan, executed by CFG, both for “a nationally recognized borrower.” Further details were not disclosed.
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Webinar — Inside the Resident Room: In-Unit Data Helps Seniors Housing Operators Improve Safety & Increase Profitability
The Oct. 17 webinar “Inside the Resident Room: In-Unit Data Helps Seniors Housing OperatorsImprove 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, …
FLORIDA — Capital Funding Group (CFG) has provided a $3.3 million bridge-to-HUD mezzanine loan, which supported a dividend recapitalization for a 120-bed skilled nursing facility in Florida. The borrower was identified only as “a well-recognized sponsor” and the location and name of the property were not disclosed. Andrew Jones originated the transaction for the CFG.
AUGUSTA, STOCKBRIDGE and EVANS, Ga. — Blueprint has arranged the sale of three skilled nursing facilities: Laurel Park at Henry Medical Center in the Atlanta suburb of Stockbridge; Kentwood Extended Care in Augusta; and Westwood Extended Care in the Augusta suburb of Evans. The seller was Piedmont Healthcare Inc., Georgia’s largest nonprofit healthcare system. Through its 2022 affiliation with University Health Care System, two skilled nursing and long-term care facilities serving the greater Augusta market, as well as Piedmont Augusta and Piedmont McDuffie hospitals, became part of the Piedmont system. …
SOUTH DENNIS, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 128-bed skilled nursing facility in the Cape Cod town of South Dennis. Through a bifurcated process between Blueprint’s seniors housing group and behavioral healthcare group, the broker approached a targeted variety of skilled nursing investors and alternative use investors. Housing Assistance Corp. Cape Cod acquired the asset and embarked on a capital expenditure plan to revitalize the asset and will ultimately convert the community into housing. The seller and price were not disclosed. The Blueprint …
KANSAS CITY, Kan. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Providence Place, a 45-bed skilled nursing facility in Kansas City. Providence Place is located on the campus of Providence Medical Center. The acquisition is subject to a long-term, triple-net lease. This acquisition brings Ensign’s portfolio to 296 healthcare operations, 26 of which also include senior living operations, across 13 states.