TEXAS — VIUM Capital has provided a $15 million bridge loan for the acquisition of a 124-bed skilled nursing facility in Texas. The financing features 100 loan-to-cost ratio and 50 percent recourse that will burn off along with the HUD loan application. The community opened in March 2020. Further details were not disclosed.
PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Cornerstone Care Option, a 38-unit, 56-bed skilled nursing facility in Portland. The community was originally built in 1955 on 7.3 acres, with renovations in 2006. The 98,700-square-foot asset was 98 percent occupied. The seller was a local owner-operator looking to retire from seniors housing. A regional group based in the West acquired the property for an undisclosed price. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.
NEW MEXICO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 50-unit transitional care facility in New Mexico. The property is located within five miles of three hospitals. It recently underwent an operator transition, and occupancy was approaching 80 percent at the time of marketing. The buyer was a regional owner-operator that was open to leasing for a short period of time before exercising a purchase option to acquire the facility. This marked the buyer’s first acquisition in New Mexico, further expanding its geographic footprint in the …
PITTSGROVE, N.J. — Capital Funding Group (CFG) has arranged $10.6 million in bridge-to-HUD financing for the acquisition of an 84-bed skilled nursing facility in Pittsgrove, approximately 30 miles south of Philadelphia. Care Tim Eberhardt and Ava Julio originated the transaction. Further details were not disclosed.
DALLAS — North Texas Benevolent Holdings has acquired three seniors housing communities. The locations and details on the properties were not disclosed. The properties were formerly part of Christian Care Centers, which declared bankruptcy. The buyer intends to lease all three communities to affiliates of Boncrest Resource Group Inc. a nonprofit operator North Texas Benevolent Holdings, LLC is owned by McFarlin Group of Dallas and Covington Health Group of Atlanta.
GLADWYNE, Pa. — Rosette, a conversion of a single-family home into a seniors housing community, has opened its doors in Gladwyne, a Philadelphia suburb within the Main Line region that follows the former Pennsylvania Railroad track. Inspired by a pod-like senior living concept found on the West Coast, Rosette has been updated and restored for eight immobile or otherwise disabled seniors so they can live and receive assistance together as a group. Rosette’s licensed personal care model is based on real-life family living. With full-time caregivers in the home 24/7, …
The focus of Seniors Housing Business’ latest webinar, sponsored by Paychex, was “How to Tackle the Top Workforce Issues Facing Senior Living Communities.” What are the top human resource challenges senior living communities face? What solutions, recommendations and tools can help communities thrive when it comes to finding and employing staff? Expert panelists discussed approaches to attracting skilled workers and keeping existing staff happy, healthy, well trained and engaged. This brief, one-hour webinar is full of options and suggestions for best practices, as well as tips and tricks for those in …
SACRAMENTO — Capital Funding Group (CFG) has provided $11.3 million in bridge-to-HUD financing for the acquisition of a skilled nursing facility. The facility, which is located in Sacramento, features 121 beds. Capital Funding Group’s Tim Eberhardt and Ava Julio originated the transaction. Further details were not disclosed.
ARIZONA — Capital Funding Group (CFG) has provided $17.2 million in Bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Arizona, support 232 beds. The buyer is the operator of the two communities, and is now purchasing the real estate. Tommy Dillon originated the transaction. Further details on the seller and communities were not disclosed.
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Design, Technology Lead to Labor Savings in Senior Living Communities
Senior living communities, often strained by labor shortages, can benefit from design and technology strategies built to streamline how employees spend their time. While the focus in any construction, design or renovation project must be on resident needs first, an in-depth planning approach can benefit the community as a whole — especially staff. Technologies — including fall detection and prevention, real-time location systems (RTLSs) and strong Wi-Fi — are at the heart of making sure staff can focus on residents. Good technology design is an essential part of making sure …