Thursday, November 21, 2024
Read the Magazine Subscribe

Skilled Nursing

AcquisitionsAssisted LivingNewsSkilled NursingTennessee

ESI Brokers Sale of Mabry Health Care & Rehabilitation Center in Gainesboro, Tennessee

by Channing Hamilton

GAINESBORO, Tenn.— Evans Senior Investments (ESI) has arranged the sale of Mabry Health Care & Rehabilitation Center in Gainesboro, located about 88 miles east of Nashville. The transaction was executed on behalf of the seller, an independent owner-operator. The buyer was Strawberry Fields REIT in an off-market transaction. Mabry Health Care, a family-owned nursing home founded in 1979, has served the Gainesboro community for over four decades. Originally focused solely on skilled nursing care, the center expanded its services in 2005 to include assisted living. Today, the facility comprises 108 total …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsMissouriNewsSkilled Nursing

ESI Brokers Sale of 199-Bed Skilled Nursing Facility in Western Missouri

by Jeff Shaw

MISSOURI — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing facility in Western Missouri. The transaction was executed on behalf of an independent owner-operator seeking to exit the industry. Built in 1987 and situated on over 4 acres of land, the facility is licensed for 199 skilled nursing beds. At the time of marketing, it faced several operational challenges, including a two-star CMS rating, 54 percent occupancy and negative cash flows.  In light of these circumstances, the property offers substantial value-add potential. Its location, just a …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceNew YorkNewsSkilled Nursing

Largo Arranges $11.6M in Financing for Skilled Nursing-to-Multifamily Conversion in Buffalo, New York

by Jeff Shaw

BUFFALO, N.Y. — Ned Perlman of Largo Real Estate Advisors Inc. has arranged $11.6 million in construction/renovation financing for a former nursing home that will be transformed into an upscale 84-unit multifamily property with luxury amenity spaces.  The property will undergo extensive interior and exterior renovations and feature 57-one-bed, one-bath units; four two-bed, one-bath units; and 23 studios.  The property is located in downtown Buffalo with access to the city’s major attractions and interstate highway system. 

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates Sale of Two Skilled Nursing Facilities in Central Texas

by Jeff Shaw

HONDO and KERRVILLE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of two skilled nursing facilities in Hondo and Kerrville.  Offering 232 total skilled nursing beds, the portfolio of communities are located within 60 miles of each other in Central Texas. The portfolio is approximately 55,500 square feet in total and is situated on approximately 4.1 acres of land. The seller is an owner-operator located in Texas, while the buyer is a publicly traded REIT that is leasing the properties to a new operator in the Texas …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsSkilled Nursing

CareTrust REIT Acquires Two Skilled Nursing Facilities for $62.1M

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has acquired two skilled nursing facilities in separate transactions with a total investment amount of $62.1 million.  The company acquired a 125-bed skilled nursing facility in the Mid-Atlantic and a 134-bed skilled nursing facility on the West Coast. CareTrust’s investment in the Mid-Atlantic facility, inclusive of transaction costs, was approximately $37.7 million and will generate an initial annual base rent of approximately $3.4 million. The company has leased the facility pursuant to a new 15-year, triple-net lease that includes two five-year …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNebraskaNewsSkilled Nursing

ESI Arranges Sale of 97-Bed Holmes Lake Rehabilitation & Care Center in Lincoln, Nebraska

by Jeff Shaw

LINCOLN, Neb. — Evans Senior Investments (ESI) has arranged the sale of Holmes Lake Rehabilitation & Care Center, a skilled nursing facility in Lincoln.  The transaction was executed on behalf of an independent owner-operator that was ready to transition out of the industry. A regional owner-operator acquired the asset for an undisclosed price. Holmes Lake Rehabilitation & Care Center was built in 1974. Located on a seven-acre property, the facility features 97 skilled nursing beds spread across 51 rooms. When ESI began the marketing of Holmes Lake, the occupancy rate …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsOhioSkilled Nursing

CFG Provides $12.5M Bridge Loan for Skilled Nursing Facility in Ohio

by Jeff Shaw

OHIO — Capital Funding Group (CFG) has provided a $12.5 million bridge-to-HUD loan, which supported the refinancing of an existing bridge loan.  The subject property is a 175-bed skilled nursing and assisted living facility in Ohio. Further details were not disclosed.  Craig Casagrande of CFG originated the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsFinanceNewsSkilled NursingTexas

Oxford Finance Provides $47M Credit Facility to Creative Solutions in Healthcare Inc.

by Jeff Shaw

FORT WORTH, Texas — Oxford Finance LLC has provided a $47 million senior credit facility to Creative Solutions in Healthcare Inc., a Fort Worth-based seniors housing investor. Funds drawn at closing were used to finance the acquisition of two skilled nursing facilities in Texas, totaling 228 beds. Additionally, the credit facility includes a substantial delayed draw commitment, providing the company with the flexibility to finance future acquisitions. Creative Solutions in Healthcare is a family-owned company with more than 170 long-term care communities throughout the state of Texas.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsMichiganNewsSkilled Nursing

ESI Brokers Sale of 108-Bed Countryside Care Center in Jackson, Michigan

by Jeff Shaw

JACKSON, Mich. — Evans Senior Investments (ESI) has arranged the sale of Countryside Care Center, a skilled nursing facility in Jackson.  The transaction was executed on behalf of an independent owner-operator looking to recycle capital and exit the industry. Countryside Care Center is situated 40 miles west of Ann Arbor and 35 miles south of Lansing. The facility was built in 1968 and licensed for 108 skilled nursing beds.  Despite its longstanding presence, the center was facing challenges at the time of marketing, operating only 80 of its beds with …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingKansasNewsSkilled Nursing

SLIB Brokers Sale of 65-Unit Hillside Village in De Soto, Kansas

by Jeff Shaw

DE SOTO, Kan. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Hillside Village, a seniors housing community in De Soto, approximately 20 miles southwest of Kansas City. Hillside Village offers 38 assisted living units and 27 skilled nursing units, totaling 95 licensed beds. The seller was a local owner existing the business. The buyer is a public company headquartered in California. The price was not disclosed. Ryan Saul, Nick Cacciabando and Jeff Binder led the transaction for SLIB.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts