WASHINGTON — Capital Funding Group (CFG) has provided $3.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Washington, feature 108 beds. Further details on the location and borrower were not disclosed. Tim Eberhardt and Ava Julio originated the transaction.
BURLESON, Texas, and OVERLAND PARK, Kan. — CareTrust REIT Inc. (NYSE: CTRE) has acquired two skilled nursing facilities: AdventHealth Care Center Burleson, a 178-bed facility in Burleson, and AdventHealth Care Center Overland Park, a 102-bed facility in Overland Park, Kansas. The Overland Park facility represents CareTrust’s entry into the Kansas market. Blueprint Healthcare Real Estate Advisors represented the seller, AdventHealth, in the transaction. The acquisition of the Burleson facility will be an add-on to CareTrust’s existing lease with Austin, Texas-based operator Momentum Skilled Services, which will replace the outgoing operator. …
TEXAS — VIUM Capital has arranged a $10.8 million bridge-to-HUD loan to recapitalize two skilled nursing facilities. The properties, both located in Texas, total 136 beds. Further details were not disclosed.
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TEXAS — VIUM Capital has provided $27 million in bridge-to-HUD financing for two skilled nursing facilities totaling 240 beds in Texas. The terms include a purchase option for the first facility, and refinances $6.8 million in debt on the second. The names, locations and borrower were not disclosed. The financing is full recourse, lowering to 50 percent recourse upon submission of the HUD application.
UTAH — Blueprint Healthcare Real Estate Advisors has arranged a new tenant for a 12-property, 1,275-bed skilled nursing portfolio in Utah. Blueprint was approached by a longstanding client to find a best-in-class tenant for the portfolio, which the client was under contract to acquire. The seller was a Utah-based owner and operator of skilled nursing facilities that was in the process of executing on a strategic firm-wide recapitalization. The new tenant is a Nevada-based operator that had strong interest in leasing the portfolio from the future buyer. However, after further …
CLEVELAND — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 99-bed skilled nursing facility in Cleveland. The transaction was part of a HUD short-sale process. The community was built in 1987 and well maintained, but struggled with survey issues and severe financial turmoil. The buyer was a New Jersey-based owner-operator with existing experience in Ohio. Details on the seller and price were not disclosed.
ROSWELL, N.M. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Sunset Villa Care Center, a 52-bed skilled nursing facility in Roswell. The facility is located within three miles of two regional acute care hospitals. It was built in 1965, but “is very well maintained, and had strong recent and historical financial trends,” according to Blueprint. Blueprint’s marketing efforts focused on highlighting the facility’s high cash flows, operating margins, and the local submarket’s strength. At the time of marketing, the facility was running revenues of approximately $6 million. …
KENANSVILLE, N.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Kenansville Health and Rehab, a skilled nursing facility in Kenansville. The 92-bed skilled nursing facility is located 75 miles southeast of Raleigh and was built in 1975 adjacent to ECU Health Duplin Hospital. With no direct local competition, the facility consistently maintained stable census and quality mix levels. The seller was an ownership group led by a Georgia-based entrepreneur. The operator had recently announced its plan to exit the industry. The buyer was an investor seeking growth …
BROCKTON, Mass — Lument today has provided a $15 million HUD Sec. 232/223(f) loan to refinance Alliance Health at West Acres, a 130-bed skilled nursing facility (SNF) in Brockton, approximately 20 miles south of Boston. Alliance Health owns and operates seven communities consisting of 807 skilled nursing and 54 residential care beds. Alliance Health at West Acres was originally built in 1965 and consists of a two-story building featuring 116 semi-private beds and 14 private beds. The community was substantially renovated in 2017 using bank debt, which the $15 million …