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Skilled Nursing

AcquisitionsNewsRhode IslandSkilled Nursing

Tryko Partners Buys 120-Bed Skilled Nursing Facility in North Kingstown, Rhode Island

by Jeff Shaw

NORTH KINGSTOWN, R.I. — Tryko Partners has acquired Scalabrini Villa, a 120-bed skilled nursing facility in North Kingstown, located along Narrangansett Bay south of Providence. The seller and price were not disclosed. “The acquisition of Scalabrini Villa further grows our investment footprint in New England, specifically within the desirable Rhode Island marketplace,” says Uri Kahanow, Tryko’s director of acquisitions. “North Kingstown’s enviable demographics and deep regional hospital network added to this opportunity’s appeal.” Within a three-mile radius of Scalabrini Villa, the elderly population, median household income and median housing values …

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AcquisitionsAssisted LivingMassachusettsNewsSkilled Nursing

Blueprint Brokers Sale of Skilled Nursing, Assisted Living Community in Northbridge, Massachusetts

by Jeff Shaw

NORTHBRIDGE, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing campus featuring 154 skilled nursing beds and 26 assisted living units in the Worcester suburb of Northbridge. The community, which was not named, was built in 1970 on 13 acres. It totals 93,000 square feet following expansions in 1995 and 2005. Owner-operator Salmon Health and Retirement sold the property as a non-core community in its portfolio. A Massachusetts-based investor acquired the asset for an undisclosed price.

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AcquisitionsFloridaNewsSkilled Nursing

SLIB Negotiates Sale of 120-Bed Skilled Nursing Facility in Lakeland, Florida

by Jeff Shaw

LAKELAND, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in Lakeland, located between Tampa and Orlando. The asset was de-licensed by the state in 2017 but was allowed to re-open in early 2020 to accommodate COVID residents. The operator was provided a new license and the seller, a publicly traded REIT, elected to divest of the asset as it was nearly vacant after the initial COVID wave subsided. SLIB represented the buyer, Mainstay Senior Living, which bought the adjacent assisted living …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of 120-Bed Skilled Nursing Facility in Cleveland

by Jeff Shaw

CLEVELAND — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 120-bed skilled nursing facility near John Carroll University in Cleveland. The property was built in the 1960s and renovated in the 1990s The asset was strategically identified for disposition as it did not fit within the seller’s core operating model. The buyer was a private equity owner-operator based in New York City. The price was not disclosed.

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CaliforniaColoradoFinanceNewsSkilled NursingWyoming

Capital Funding Group Provides $262.6M Refinancing for Skilled Nursing Portfolio in Colorado, California, Wyoming

by Jeff Shaw

BALTIMORE — Capital Funding Group, a Baltimore-based lender, has provided a $262.6 million term loan to refinance a 29-asset long-term care portfolio. Spanning Colorado, California and Wyoming, the portfolio includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. The borrower is a privately owned real estate investment group. Erik Howard and Director Tim Eberhardt originated the transaction for Capital Funding Group.

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AcquisitionsNewsOklahomaSkilled Nursing

Plains Commercial Arranges Sale of English Village Manor in Altus, Oklahoma

by Jeff Shaw

ALTUS, Okla. — Plains Commercial has arranged the sale of English Village Manor, a skilled nursing facility in Altus, approximately 150 miles southwest of Oklahoma City. Originally built in 1973, the facility is currently licensed for 128 beds in approximately 36,900 square feet of space. The seller is a regional owner-operator that decided to cull its portfolio and focus on facilities closer to the corporate office. The buyer is one of the largest skilled nursing operators in Oklahoma, with several other facilities in the area. Daniel Morris with Plains Commercial …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

SLIB Brokers Sale of 272-Bed Skilled Nursing Community in Scranton, Pennsylvania

by Jeff Shaw

SCRANTON, Pa. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Lackawanna Health and Rehabilitation Center, a 272-bed skilled nursing facility in Scranton. The property was built in 1974 with an expansion in 1997. The three-story building sits on 7.3 acres. The seller had a tenant that desired to exit operations in the state. The buyer was a Pennsylvania-based skilled nursing owner. The price was not disclosed. Bradley Clousing and Toby Siefert handled the transaction for SLIB.

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AcquisitionsMissouriNewsSkilled Nursing

Blueprint Brokers Sale of 96-Bed Valley View Skilled Nursing Facility in Moberly, Missouri

by Jeff Shaw

MOBERLY, Mo. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Valley View Health & Rehabilitation, a 96-bed skilled nursing facility in the Central Missouri city of Moberly. The property was built in the late 1980s and renovated in the 1990s. In 2018, the property was part of an 11-facility master lease that Blueprint also negotiated between a REIT and an operator. While the facility’s performance continued to improve under the new operator, Valley View represented a geographic outlier to the provider’s other Missouri locations more heavily concentrated …

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NewsOperationsSkilled NursingTexas

LTC to Transfer 11 Skilled Nursing Operations in Texas to HMG Healthcare

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based real estate investment trust that primarily invests in seniors housing and health care properties, has unveiled plans to transfer 11 skilled nursing facilities in Texas to a new operator. The United States Bankruptcy Court for the Northern District of Texas Dallas Division approved a settlement agreement between current operators Senior Care Centers LLC and Abri Health Services LLC, which have declared bankruptcy, and LTC. Under the agreement, LTC will pay the bankrupt entities $3.3 million in order to …

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AcquisitionsNew JerseyNewsSkilled Nursing

ESI Brokers $24M Sale of Skilled Nursing Community in New Jersey

by Jeff Shaw

NEW JERSEY — Evans Senior Investments (ESI) has arranged the sale of a 120-bed skilled nursing community in New Jersey for $24 million. Built in the last 20 years with multiple renovations since, the community exhibited a modern physical plant with all of the rooms at the community being private or semi-private. Despite the contemporary design, the community was not profitable at the time of marketing the offering, with census averaging 77 percent, resulting in a net operating loss. Contributing to the below-average profitability was the high expense structure in …

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