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 …
INDIANA — VIUM Capital has arranged $136.8 million in bridge financing for a portfolio of 17 skilled nursing facilities in Indiana. The first-mortgage loan was made to fund the acquisition of the properties, which total 1,470 beds. Most of the buildings are stabilized with a strong credit tenant and manager in place, according to VIUM. The borrower plans to refinance as many of the properties as possible with HUD loans. Further details were not disclosed.
ILLINOIS — VIUM Capital has provided a $7.8 million HUD refinancing for a 130-bed skilled nursing facility in Illinois. The refinancing will achieve debt-service savings and create a permanent debt structure for the stabilized project. Further details were not disclosed.
WYNNEWOOD, Pa. — Lument Securities has served as exclusive financial advisor to the board of directors of Saunders House, a nonprofit skilled nursing facility, on its sale to a regional private operator. The property is located in the first-ring Philadelphia suburb of Wynnewood and features 180 beds. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities. Saunders House dates back to 1864 when it opened as the Old Man’s Home of Philadelphia. The current facility, which is located adjacent to Lankenau Medical Center, opened in 1973 and underwent …
CMS shifts have added regulatory pressure to staffing urgency. Take a new approach. By Rishabh Parmar It is no secret that staffing shortages have consistently plagued skilled nursing facilities (SNFs), impacting patient care and staff satisfaction. But recent changes in Centers for Medicare & Medicaid Services (CMS) guidance have put additional pressure on leaders to solve this crisis. CMS recently updated its Five-Star quality rating system, adding measures for staff turnover and weekend staffing levels. Five-Star quality ratings not only impact insurance reimbursements but inform facility selection by consumers, families …
ATLANTA and MARIETTA, Ga. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, one in the Buckhead neighborhood of Atlanta and another in the first-ring suburb of Marietta. The properties total 333 licensed beds, and are part of a larger portfolio sale with staggered closings. Both properties are near leading regional hospitals, among other referral sources. While labor challenges impacted the local market, the facilities maintained steadily improving census and revenue coming out of the pandemic, according to Blueprint. An East Coast-based investor and …
TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has announced plans to transition 147 skilled nursing facilities from its joint venture with ProMedica Senior Care to a new partnership with Integra Health. In addition to transferring the operations, ProMedica will surrender its 15 percent interest in the assets and Integra will acquire that same stake. The financial terms of the move were not disclosed. ProMedica will also “provide significant working capital support for the new operators to ensure a smooth transition of …
SENECA, S.C. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Lila Doyle Post Acute, a 120-bed skilled nursing facility located in Seneca, approximately midway between Atlanta and Charlotte. The real estate at Lila Doyle Post Acute is located on the campus of Prisma Health Oconee Memorial Hospital and was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, pursuant to a 30-year ground lease with extension options. “This acquisition created a perfect opportunity for our continued growth in South Carolina,” …
KENOSHA, Wis. — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, has acquired the assets of Kenosha Visiting Nurse Association Inc., which provides skilled home health, private duty and community health services in Kenosha. “We are pleased to expand our home health operations deeper into southern Wisconsin,” says Brent Guerisoli, CEO of Pennant. “KVNA will be a great partner to our senior living affiliates in the area as we further expand the continuum of …
