OHIO — VIUM has provided a $20 million bridge-to-HUD loan for a 120-bed skilled nursing facility in Ohio. The borrower acquired the property in August 2021. Seeking higher leverage on the community, the transaction increases the debt load from $9 million. Further details were not disclosed.
WACO, HOUSTON and FORT WORTH, Texas — Blueprint Healthcare Real Estate Advisors has negotiated the sale of four skilled nursing facilities totaling 704 licensed beds in Waco, Houston and Fort Worth. Blueprint marketed the properties on behalf of a court-appointed receiver. The assets were all built in the 1960s. A national owner acquired the properties for $28 million, and plans to lease the facilities out to multiple operators.
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE), a San Clemente-based owner, has extended a $22.3 million secured loan in connection with the acquisition of a five-asset skilled nursing portfolio in California. The portfolio includes approximately 600 skilled nursing beds. The names and locations were not disclosed. The loan carries a three-year maturity with two one-year extensions and an annual SOFR-based interest rate with a minimum floor of approximately 8.5 percent. “On the heels of our recent loan funding in the Mid-Atlantic last month, we are excited to support …
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 …