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AcquisitionsNewsSkilled NursingTexas

LTC Acquires Four-Property Rehab Portfolio in Texas for $52M

by Jeff Shaw

FORT WORTH, ROUND ROCK, SAN ANTONIO and WEBSTER, Texas — LTC Properties Inc. (NYSE:LTC), a real estate investment trust that primarily invests in seniors housing and healthcare properties, has acquired four LuxeRehab centers for approximately $52 million. The properties, which are located in Texas and have a combined total of 339 beds primarily in private rooms, will be operated by Ignite Medical Resorts, a current LTC operating partner. Although the specific properties were not named, the only four Ignite locations in Texas are in Fort Worth, Round Rock, San Antonio …

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AcquisitionsCompany NewsNewsSkilled Nursing

EmpowerMe Wellness Acquires Statewide Therapy Provider in Florida

by Jeff Shaw

ST. LOUIS and TAMPA — EmpowerMe Wellness, a St. Louis-based integrated healthcare provider serving senior living communities nationwide, has acquired Salus Physical Therapy, one of Florida’s largest providers of outpatient therapy to senior living communities. Based in Tampa, Salus serves 45 senior communities across the state of Florida. All of Salus’ 175 employees have been offered positions by EmpowerMe Wellness, including therapists and corporate office staff. With this acquisition, EmpowerMe Wellness will now serve over 450 senior living communities across more than 20 states. “Through our partnership, EmpowerMe will make …

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AcquisitionsGeorgiaNewsSkilled Nursing

Blueprint Brokers Sale of 59-Bed Cobblestone Rehab in Moultrie, Georgia

by Jeff Shaw

MOULTRIE, Ga. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Cobblestone Rehabilitation & Healthcare Center, a 59-bed skilled nursing facility in the Southwest Georgia city of Moultrie. The seller was a New York-based investment firm, and the operator recently filed for bankruptcy. The buyer was local community-based teaching hospital Colquitt Regional Medical Center. The price was not disclosed. “Acquiring Cobblestone will allow us to expand our continuum of care and provide additional services to our patients and this community,” says Jim Matney, Colquitt’s president and CEO. “It …

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DevelopmentNew JerseyNewsSkilled Nursing

Marquis Completes $4M Renovation Project at Spring Grove Skilled Nursing Facility in New Providence, New Jersey

by Jeff Shaw

NEW PROVIDENCE, N.J. — Marquis Health Consulting Services has completed a $4 million renovation and modernization project at Spring Grove Rehabilitation & Healthcare Center. “Spring Grove’s reintroduction is the culmination of a vision four years in the works,” says Ugochi Opara, regional director of market development for Marquis Health Consulting Services, which supports the facility and spearheaded the renovation. “Spring Grove has been completely transformed into a modern, home-like environment for residents.” The Spring Grove renovation included a full-scale retrofit of the facility’s dedicated subacute unit and enhancements throughout its …

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AcquisitionsNewsOperationsPennsylvaniaSkilled Nursing

Blueprint Negotiates Re-Tenanting of Seven-Community Portfolio in Pennsylvania

by Jeff Shaw

PENNSYLVANIA — As part of a larger restructuring between a public REIT and its regional operator, Blueprint has arranged the re-tenanting of six skilled nursing facilities and an assisted living community in Pennsylvania. A regional operator was selected to manage the communities under a new master lease with the REIT owner. This is the first partnership between the two companies. Further details were not disclosed.

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FinanceNewsNorth DakotaSkilled Nursing

Preston Hollow Community Capital Arranges $78M Bond Financing for Skilled Nursing Facility in Bismarck, North Dakota

by Jeff Shaw

BISMARCK, N.D. — Dallas-based Preston Hollow Community Capital (PHCC) has arranged a $78 million, tax-exempt bond transaction for a skilled nursing facility in Bismarck. The borrower is Missouri Slope Lutheran Care Center, which built the property on its existing campus. The bonds were issued through Burleigh County. Colliers Securities underwrote the bonds. The bonds will provide permanent financing for the 192-bed facility. Missouri Slope undertook the project nearly eight years ago following a strategic planning session that identified the need for more private rooms, better parking and additional community services …

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FinanceNew JerseyNewsSkilled Nursing

Cambridge Provides $10.7M HUD Refinancing for Pine Acres in Madison, New Jersey

by Jeff Shaw

MADISON, N.J. — Cambridge Realty Capital Cos. has provided a $10.7 million HUD-insured loan for Pine Acres Healthcare & Rehabilitation Center, a 102-bed skilled nursing facility in Madison, approximately 40 miles west of Manhattan. Pine Acres is a long-term care facility and rehabilitation center offering a variety of post-operative services and amenities, including private and semi-private rooms. The loan refinances existing debt.

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AcquisitionsIllinoisNewsSkilled Nursing

CareTrust REIT Acquires Imboden Creek Living Center in Decatur, Illinois

by Jeff Shaw

DECATUR, Ill. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired The Imboden Creek Living Center, Gardens and Villas, a skilled nursing campus in Decatur, approximately midway between Chicago and St. Louis. The campus features 95 licensed skilled nursing beds, 46 assisted living units and five independent living units. The acquisition was a “tack-on” to CareTrust’s existing eight-property master lease with Harrisburg-based operator WLC Management Firm LLC, which will replace the outgoing operator. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was approximately $13.1 million. …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of Good Shepherd Village in Springfield, Ohio

by Jeff Shaw

SPRINGFIELD, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Good Shepherd Village, a skilled nursing facility in Springfield. The community was built in the 1960s and was renovated in the 1990s. A private equity owner-operator based in New York was the buyer. Although the seller, price and number of beds were not released, the purchase price equated to approximately $83,000 per bed.

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