Skilled Nursing

Virtual Site Walk

By Sarah Daniels Planning ahead is never easy, but in the world of senior living construction, acquisitions and renovations, it makes everything that follows easier — and often more cost effective in the long term. The need to future-proof seniors housing has taken on new significance in the face of COVID-19 and will continue to be a priority to help prospective and current residents feel safe physically, mentally and emotionally. With seniors housing occupancy rates down, creating a strong, upfront plan for long-term goals incorporating trends in design, wellness and technology …

0 FacebookTwitterLinkedinEmail

MOUNT VERNON, SHORELINE, LAKEWOOD and VANCOUVER, Wash. — The Ensign Group, Inc. (NASDAQ: ENSG) will take over operations of four skilled nursing facilites in Washington. The owner, CareTrust REIT Inc. (NASDAQ: CTRE), is transferring the operations from Five Oaks Healthcare. The four facilities are: Mira Vista Care Center, a 94-bed skilled nursing facility in Mount Vernon; Shoreline Health and Rehabilitation, a 114-bed skilled nursing facility in Shoreline; The Oaks at Lakewood, an 80-bed skilled nursing facility in Lakewood; and The Oaks at Timberline, a 98-bed skilled nursing facility in Vancouver. …

0 FacebookTwitterLinkedinEmail

ROCHESTER, Pa. — Evans Senior Investments (ESI) has arranged the sale of Rochester Manor + Villa, a 122-bed skilled nursing and 62-unit personal care community in Rochester, approximately 25 miles northwest of Pittsburgh. An independent owner-operator seeking to exit the industry sold the property an East Coast-based owner-operator looking to expand for $9.2 million, or $64,000 per functional bed/unit. Built in 1965 with a $2.5 million renovation from 2015 to 2019, the community features all private or semi-private rooms. Occupancy averaged 69 percent at the time of sale, with an …

0 FacebookTwitterLinkedinEmail

ANTIGO, BURLINGTON, MANITOWOC AND KENOSHA, Wis. — Greystone has provided $35 million in HUD-insured loans for the refinancing of a five-property, 558-bed skilled nursing portfolio across Southeast Wisconsin. The facilities are located in Antigo, Burlington, Manitowoc and Kenosha. Each of the nonrecourse loans features a fixed interest rate and is fully amortized over 30 years. The loans refinance the existing debt on the properties, which were purchased in 2017. The undisclosed borrower plans to continue ongoing property improvements. Fred Levine of Greystone originated the loans.

0 FacebookTwitterLinkedinEmail

  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 …

3 FacebookTwitterLinkedinEmail

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 …

0 FacebookTwitterLinkedinEmail

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 …

0 FacebookTwitterLinkedinEmail

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 …

0 FacebookTwitterLinkedinEmail

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.

0 FacebookTwitterLinkedinEmail

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.

0 FacebookTwitterLinkedinEmail