INDIANA — Evans Senior Investments (ESI) has arranged the sale of a 100-bed skilled nursing facility in Indiana. A regional owner-operator sold the property to a regional operator with a presence in Indiana. The price and further details on the property’s name and location were not disclosed. At the time of marketing, the community posted $10.2 million in total revenue and was 71 percent occupied. The community participated in the Upper Payment Limit program (UPL) with a local hospital. The high revenue generation of the community contributed to an above-average …
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Webinar: Modernizing Seniors Housing Care — Simplifying Workflows for Caregivers through Technology
On Sept. 8, Seniors Housing Business hosted a panel discussion called “Modernizing Seniors Housing Care — Simplifying Workflows for Caregivers through Technology” where four seniors housing industry experts spoke about streamlining and improving resident care. Tech innovations were the focus of the webinar. What tools and data help most when it comes to senior care? Listen to hear in-depth discussions on the topics and more: The latest trends in technology-enabled senior care How technology can help simplify workflows and increase productivity The importance of machine learning to drive more proactive …
HENDERSON, Nev. — Evans Senior Investments (ESI) has arranged the sale of TLC Care Center, a 255-bed skilled nursing facility in Henderson. An independent owner-operator sold the asset to Hill Valley Healthcare for $50 million, or $196,000 per bed. Built in 1999, TLC Care Center is located just 10 miles south of the Las Vegas strip. The facility features 35 private and 112 semi-private rooms, which includes 42 ventilator-equipped beds in a designated wing. Prior to the COVID-19 pandemic, the facility exhibited over 90 percent occupancy levels and produced over …
COLORADO — Evans Senior Investments (ESI) has arranged the sale of seven skilled nursing facilities in Southwest Colorado for $51.5 million, or approximately $92,000 per bed. An owner-operator sold the 558-bed portfolio to an East Coast-based owner-operator looking to expand its reach in the West. The properties were built between 1957 and 2017. Prior to the COVID-19 pandemic, the portfolio was 77 percent occupied and produced nearly $6.2 million in annual net operating income. Throughout the pandemic, the portfolio’s occupancy decreased and at the time of marketing was only 65 …
WACO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 106-unit assisted living and transitional car facility in Waco. Mainstreet developed the asset in 2015 and it was briefly operational before the property was foreclosed on and left vacant. Situated on 6.7 acres of land within the new, 150-acre mixed used development Legends Crossing, the facility is located adjacent to Baylor Scott & White Medical Center. The buyer was a Texas-based joint venture between Zelevie Health and Skywalker Property Partners. This is the joint venture’s first …
FORT MYERS, Fla. — SRS Real Estate Partners has brokered the sale of a 75-bed skilled nursing facility located at 13960 Plantation Road in Fort Myers. An entity doing business as Plantation Medical Center SNU LLC sold the property to a private 1031 investment firm based in New York City for $46.7 million. Patrick Nutt and William Wamble of SRS’ National Net Lease Group represented the seller in the off-market transaction, and Jason Maier of Stan Johnson Co. represented the buyer. Built in 2018, the 57,650-square-foot property is situated adjacent …
COLVILLE, Wash. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Pinewood Terrace, a 92-unit skilled nursing facility located in Colville, a tiny city of fewer than 5,000 residents in the northeastern corner of Washington State. Cascadia Healthcare acquired the property for an undisclosed price. The seller was looking to exit Washington for states with more favorable reimbursement rates and lower regulatory hurdles. Cascadia, meanwhile, is growing its regional team in the Washington and northern Idaho markets to help with quality of care and synergy between local buildings.
PARK RIDGE, BRIDGEVIEW and ELGIN, Ill. — Walker & Dunlop Inc. has structured $57.6 million in HUD-insured loans for the refinancing of three skilled nursing facilities in Illinois. The first transaction consisted of a $15.6 million loan for Avantara Park Ridge, a 154-bed community in Park Ridge. Walker & Dunlop also arranged a $28.7 million loan for Moraine Court Supportive Living, a 185-bed community in Bridgeview, and a $13.3 million loan for Aperion Care Elgin, a 101-bed property in Elgin. Joshua Rosen of Walker & Dunlop led the origination team. …
WASHINGTON — VIUM Capital has provided $15.5 million in financing for a 120-bed skilled nursing facility in Washington. The bridge-to-HUD loan pays off seller financing, while offering cash for capital expenditures and cash-out financing. The transaction includes $10 million in initial funding, a $1.5 million capital expenditures draw and $4 million in earn-outs in three tranches. This is the third building of four in the borrower’s Washington portfolio, and VIUM refinanced the first two in June. Details on the property and borrower were not disclosed.
SOUTH TEXAS — VIUM Capital has provided a $17.1 million bridge-to-HUD loan for a skilled nursing facility in South Texas. The transaction refinances existing debt, provides equity-out proceeds and covers transaction costs. The loan features a 60 percent loan-to-value ratio, partial recourse that disappears upon submission to HUD. The borrower leased the property in 2017, exercised its purchase option in 2018, and continued to improve operating performance during COVID. Further details were not disclosed.