Tuesday, November 26, 2024
Read the Magazine Subscribe

Skilled Nursing

Assisted LivingDevelopmentIndependent LivingIndustry ContentMemory CareOperationsPeopleSkilled NursingVideosWebinars

Webinar: Seniors Housing Valuation Outlook — What’s Next Now that the Pandemic End is in Sight?

by Sarah Daniels

  How do owners, operators, investors, developers and lenders view valuation in seniors housing? Seniors Housing Business and sponsor V&IG hosted the webinar “Seniors Housing Valuation Outlook — What’s Next Now that the Pandemic End is in Sight?” to weigh in as trends in the market solidify. What can the seniors housing industry expect when it comes to construction, labor, the impact of equity and debt on valuations, changing operating models and more? How can the industry bounce back from low occupancy rates? What will determine value now and in the immediate …

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsSkilled NursingTechnology

Sentrics Forms Inaugural Product Advisory Council for Acute Care Division

by Jeff Shaw

DALLAS — Sentrics, a Dallas-based technology company, has formed an inaugural Product Advisory Council (PAC) for its acute care division, serving hospitals and skilled nursing facilities. The PAC, which will help leadership translate market trends into product direction and high-level market requirements, aims to strengthen the company’s commitment to the acute care market. The formation comes as the company begins its integration of Allen Technologies. “Sentrics works with leaders across all acuity levels to leverage data-driven solutions that solve the issues of safety, engagement, care transition and overall health and …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceNewsPennsylvaniaSkilled Nursing

Lument Arranges $35.6M USDA Loan to Fund Replacement Skilled Nursing Facility in Pennsylvania

by Jeff Shaw

BELLEFONTE, Pa. — Lument has arranged a $35.6 million U.S. Department of Agriculture (USDA) Community Facilities (CF) loan to fund the construction of Centre Care Rehabilitation and Wellness Services, a 240-bed skilled nursing facility in Bellefonte, near State College. The new facility will replace an existing 240-bed facility that was deemed unsuitable for substantial renovations due to its age and location. Miles Kingston, director at Lument, worked with Complete Healthcare Resources Eastern (CHRE) to develop and execute the financing strategy. CHRE is an experienced management company that has managed and …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceIllinoisNewsSkilled Nursing

Walker & Dunlop Arranges $55.7M in Financing for Skilled Nursing Portfolio in Metro Chicago

by Jeff Shaw

CHICAGO — Walker & Dunlop Inc. has structured $55.7 million in financing for three skilled nursing facilities in the Chicago area: Chalet Living & Rehab Center, The Grove of Evanston and The Grove of La Grange Park. Joshua Rosen led the origination team at Walker & Dunlop in securing debt coverage savings for the property owner and long-time client, which was not disclosed. The team utilized U.S. Department of Housing and Urban Development’s (HUD) Section 232/223(a)(7) program to refinance the facilities’ existing HUD loans. Each loan features a 27-year term …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsFinanceNew JerseyNewsSkilled Nursing

Harborview Capital Partners Arranges $24.1M Acquisition Loan for Skilled Nursing Facility in New Jersey

by Jeff Shaw

MONMOUTH COUNTY, N.J. — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $24.1 million bridge-to-HUD loan for the acquisition of a 202-bed skilled nursing facility in Monmouth County. The borrower and property were not disclosed. The loan, provided by local lender features nine months of interest-only payments and a 25-year amortization. Rafael Urbach of Harborview originated the loan.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsSkilled NursingTexas

SLIB Brokers Sale of 108-Bed Windsor Rehabilitation Center in Terrell, Texas

by Jeff Shaw

TERRELL, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Windsor Rehabilitation & Health Care Center, a skilled nursing facility in Terrell, approximately 30 miles east of Dallas. The 108-bed facility was built in 1994. The 41,140-square-foot building sits on 5.2 acres. The seller was a regional company with this being its only community in Texas. The buyer was a national owner-operator with a large portfolio in the state. The price was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsSkilled Nursing

NIC: Skilled Nursing Occupancy Shows Signs of Stabilization

by Jeff Shaw

ANNAPOLIS, Md. — Occupancy at U.S. skilled nursing facilities increased to 71.2 percent in February 2021 compared to 70.7 percent from the previous month, according to NIC MAP data. This raised the sector’s occupancy rate to its December 2020 level. Despite the February improvement, occupancy remains 13.7 percentage points below its pre-pandemic level. The National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit data firm, gathers the data from more than 1,400 individual skilled nursing facilities in 48 states. The February NIC MAP occupancy data are starting …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaNewsSkilled Nursing

CareTrust REIT Acquires El Centro Post-Acute Center in California

by Jeff Shaw

EL CENTRO, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired El Centro Post-Acute Center, a 123-bed skilled nursing facility located adjacent to the El Centro Regional Medical Center. El Centro is located in Imperial County near the border with Mexico. The facility has been added to CareTrust’s existing master lease with San Diego-based Bayshire Senior Communities, which sourced the off-market transaction and turned to CareTrust to finance and close the deal. Terms of the transaction were not disclosed. Scott Kirby, Bayshire’s CEO, found the El Centro opportunity after the …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAlabamaNewsSkilled Nursing

SLIB Brokers Sale of 170-Bed Azalea Gardens in Mobile, Alabama

by Jeff Shaw

MOBILE, Ala. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Azalea Gardens, a 170-bed skilled nursing facility in Mobile. The asset was built in 1968 and renovated in 1982. Occupancy was 60 percent at the time of sale. The facility is part of a land lease with a local hospital. The seller was looking to divest from a non-core market. A local owner-operator familiar with the market acquired the property for $11 million, or $64,700 per bed. Bradley Clousing and Matt Alley handled the transaction for SLIB.

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaDevelopmentNewsSkilled Nursing

Rudolph and Sletten to Build $269M Expansion at Yountville Veterans Home of California

by Jeff Shaw

YOUNTVILLE, Calif. — Rudolph and Sletten, a subsidiary of Tutor Perini Corp., was awarded a $269 million design-build contract for an expansion project at Yountville Veterans Home of California, located in the Napa Valley town of Yountville. The California Department of General Services (DGS) awarded the contract on behalf of the California Department of Veterans Affairs (CalVet). Founded in 1884, VHC-Yountville is the oldest and largest veterans home in California, and also the largest such facility in the United States, and provides long-term care to 1,000 aged or disabled veterans. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts