MCKINNEY, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of Park Manor of McKinney, a 138-bed skilled nursing facility in McKinney. Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, will own the real estate. This acquisition brings Ensign’s portfolio to 259 healthcare operations, 26 of which also include senior living operations, across 13 states. Ensign subsidiaries, including Standard Bearer, now own 106 real estate assets.
WAYNE, N.J. — Marquis Health Consulting Services has completed a $3 million renovation project at Arbor Ridge Rehabilitation & Healthcare Center in Wayne, approximately 20 miles west of Manhattan. Arbor Ridge provides post-hospital care, short-term rehab and long-term residential care. The 120-bed skilled nursing facility maintains a four-star rating from the Centers for Medicare & Medicaid Services (CMS). Renovation highlights also include wide, bright hallways; well-appointed rooms with contemporary fixtures and furnishings; and updated, centralized nurses’ stations. A second phase of the project will add a 3,000-square-foot therapy gym and an activities …
CATONSVILLE, Md. — Marquis Health Consulting Services has completed a $5 million renovation project at Meadow Park Rehabilitation & Healthcare Center, a 120-bed skilled nursing facility in the Baltimore suburb of Catonsville. The renovation featured upgrades throughout the Meadow Park building, including fixtures and furnishings; wood flooring; and wide, bright hallways. The work also centered on an expansion of the rehab therapy gym and the incorporation of an activities of daily living (ADL) suite. During the renovation process, Meadow Park also enhanced its specialty care programming in partnership with regional …
OHIO, MICHIGAN and WISCONSIN — Lument has provided $87 million in HUD 232/223(f) loans for the refinancing of a portfolio of nine skilled nursing facilities located in Ohio, Michigan and Wisconsin. The properties total 691 beds. The operator, Atrium Centers Inc., provides short-term, post-acute rehabilitation and long-term nursing care. Each of the nine loans features a fixed interest rate. HUD 232/223(f) loans allow for the purchase or refinancing of nursing homes and assisted living facilities.
CHARLESTON, W.V. — Lument Securities has advised Stonerise Healthcare, a skilled nursing and transitional care provider based in Charleston, on the company’s sale. The buyer was a group consisting of a New York-based real estate investment firm and its operating partner, CommuniCare Health Services. Stonerise was founded in 2009. Its integrated network of care includes transitional and skilled nursing care, therapy, home health and hospice services, which it provides throughout West Virginia and in Southeast Ohio. The skilled nursing portfolio features 18 owned and operated facilities across West Virginia totaling …
CLARK, N.J. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community in Clark, just west of Staten Island. Built in the 1990s, the community exhibited a modern physical plant with all of the rooms at the community private or semi-private occupancy and offering ventilator patient care for up to 10 residents. At the time of marketing, the community was 56 percent occupied, resulting in a significant net operating income loss. Prior to the COVID-19 Pandemic, the community averaged 85 percent occupancy with a large mix …
DESOTO, Texas — JLL Capital Markets has arranged the sale of Methodist Transitional Care Center, a 100-bed, 66-unit transitional care facility in the Dallas suburb of DeSoto. JLL represented the seller, Madison Marquette, in the sale to LFI Real Estate. The absolute net lease has just over 13 years of primary term remaining at sale, and there are also two five-year renewal options. Although the price was not disclosed, the capitalization rate based on first-year rent is 6.8 percent. Methodist Transitional Care Center is leased to a joint venture between …
ROCKVILLE, Md. — The leadership of Collingswood Rehabilitation & Healthcare Center and Marquis Health Consulting Services have cut the ribbon on a $7 million renovation and modernization at the skilled nursing facility in Rockville. Collingswood’s renovation centered on an expansion of the rehab therapy gym and the incorporation of a spacious activities of daily living (ADL) suite. The gym features state-of-the-art equipment and technology to support the delivery of progressive rehab services, while the ADL suite mimics a home environment, enabling patients the opportunity to regain skills before returning home. Collingswood’s …
VOLUSIA COUNTY, Fla. — Evans Senior Investments (ESI) has brokered the sale of a 200-bed skilled nursing community in Volusia County, located just northeast of Orlando. Built in 1960s, the community exhibited an older physical plant with all of the rooms at the community semi-private or three-bed wards. At the time of marketing, the community was 41 percent occupied, resulting in a net operating income loss. Prior to the COVID-19 pandemic, the community averaged 73 percent occupancy. ESI represented the seller, a regional owner-operator that sought to exit this community …
BRANFORD, Conn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Branford Hills Healthcare Center, a 190-bed skilled nursing facility with in-house pharmacy in Branford, a town on Long Island Sound. The Shelton Family has operated the community since its construction in 1980. Expanded in 1991, the facility sits on over 10 acres and benefits from its proximity to referral sources in New Haven County, specifically Yale-New Haven Hospital. Exhibiting historical occupancy in excess of 94 percent and revenues in excess of $20 million, the facility struggled amid …