TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant, 70-unit asset in Texas. Mainstreet originally developed the healthcare property, but did not fully complete construction prior to being foreclosed upon. The property was developed to be a turnkey, purpose-built transitional care facility, and featured very similar design features to the other two properties that Mainstreet built in Amarillo and Temple. A Texas-based investor acquired the property for $8.7 million, or $124,285 per unit, and plans to lease it to an East Coast-based skilled nursing operator. …
OSGOOD, Ind. — Evans Senior Investments (ESI) has arranged the sale of Manderley Health Care Center, a 71-bed skilled nursing community located in Osgood, a tiny town located between Indianapolis and Cincinnati. An independent owner-operator sold the property to an East Coast-based owner-operator for $4.2 million, or $58,451 per bed. Built in 1981, Manderley Health Care Center was 58 percent occupied and not cash flowing at the time of marketing. While under contract, occupancy at the community dipped below 45 percent. However, the owners of the community were able to …
BRIGHTON and NORTHGLENN, Colo. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Brighton Care Center, a 108-bed skilled nursing facility located in Brighton, and Malley Transitional Care Center, a 162-bed skilled nursing facility located in Northglenn. These acquisitions are subject to a long-term, triple-net lease. “We are excited about growing in Colorado,” says Barry Port, Ensign’s CEO. “These facilities are a great fit to our existing portfolio and we look forward to the contribution each will have in our operational market and clusters in Colorado.” This …
CARMEL, Ind. — Euson Lindsay Health LLC has acquired The Green House Cottages of Carmel, a 72-bed skilled nursing facility in Carmel, a suburb of Indianapolis. The Green House Cottages of Carmel opened in 2016 and offers short-term rehabilitation, memory care and long-term care. The beds are spread across six buildings in a home-like environment. The buyer will rebrand the facility under its Restoracy brand. The seller and price were not disclosed.
WESTMONT, Ill. — Cambridge Realty Capital Cos. has provided a $18.1 million HUD Lean loan to refinance Bria of Westmont, a skilled nursing facility in Westmont, approximately 20 miles west of downtown Chicago. Andrew Erkes, Cambridge President, said Cambridge provided the fully amortized, 35-year loan to an Illinois limited liability company. Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans, underwrote the loan. Bria of Westmont is a 215-bed skilled nursing facility. It provides a range of skilled services and programs, including short-term …
HARTFORD, Conn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of three skilled nursing facilities in Connecticut. Totaling 380 beds, the properties are all located in the northeastern suburbs of Hartford. A joint venture owner sold the assets to a regional buyer for an undisclosed price. The buyer plans to focus on operational efficiencies, including addressing staffing efficiencies, as well as investing in capital projects at the facilities.
TOLEDO, CANTON and ROCKFORD, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of skilled nursing portfolio across Ohio. Situated in Canton, Toledo and Rockford and spanning 200 miles across the state of Ohio, the three facilities were originally built in the 1960s and 1970s and underwent considerable renovations and major upgrades since 2015. The properties total approximately 300 beds. Citing a need to recycle capital, the seller was an East Coast-based private equity investor. The operator, also an East Coast-based company, acquired the assets for an undisclosed …
FLORIDA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of 18 skilled nursing facilities totaling 2,185 licensed beds in Florida. A public REIT sold the assets to an East Coast-based investor for an undisclosed price. The facilities range from 60 to 180 licensed beds with geographic clusters in South Florida, along the Gulf Coast and across North Florida. During the marketing process, the portfolio maintained an average 3.5 CMS-star rating, with 10 facilities rated four or five stars. Blueprint designed a targeted campaign highlighting the impact of Florida’s …
CAMBRIDGE and LEXINGTON PARK, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities located in Cambridge and Lexington Park, which are located on opposite sides of Chesapeake Bay southeast of Washington, D.C. A public REIT and its operating partner sold the 285-bed portfolio to an East Coast-based owner-operator for an undisclosed price. The sale is part of a larger portfolio with staggered closings.
LOWELL, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 90-bed skilled nursing facility in Lowell, a northern suburb of Boston. Located within relatively close proximity to Lowell General Hospital, which accounts for approximately 1,300 skilled nursing discharges annually, the facility had historically maintained stable census levels with a steady stream of referrals and admissions, according to Blueprint. The regional buyer plans to focus on operational efficiencies, including addressing staffing challenges, as well as investing into capital projects at the facility. The seller, price and name …