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Webinar: Conversation Technology As A Game Changer — Increasing Sales Effectiveness in Seniors Housing

by Sarah Daniels

In an October 14 Seniors Housing Business webinar titled “Conversation Technology As A Game Changer: Increasing Sales Effectiveness in Seniors Housing,” panelists discussed how technology can allow for marketing automation and improve sales effectiveness in senior living. Fran Palma, senior vice president of integrated marketing and digital strategies at Covenant Living Communities, explains that automation can allow professionals in the industry to offload some tasks and focus on what’s important: “The most valuable thing you can give your sales folks is more time, especially right now.” Palma explains that many …

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AcquisitionsNewsSkilled NursingTennessee

SLIB Brokers Sale of 130-Bed Cambridge House Skilled Nursing Facility in Bristol, Tennessee

by Jeff Shaw

BRISTOL, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Cambridge House, a 130-bed skilled nursing facility in Bristol, located in the northeast corner of the state. A regional operator owned the 38,075-square-foot facility, but fell into bankruptcy. A mid-sized, Mid-Atlantic skilled nursing owner with operating partners in Tennessee acquired the property for an undisclosed price. Ryan Saul of SLIB facilitated the sale.

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AcquisitionsIllinoisNewsSkilled Nursing

Strawberry Fields REIT Acquires Hope Creek Skilled Nursing Facility in Illinois for $4M

by Jeff Shaw

EAST MOLINE, Ill. — Strawberry Fields REIT LLC has acquired Hope Creek Nursing and Rehabilitation Center in East Moline, located across the Mississippi River from Davenport, Iowa. The Indiana-based, non-traded REIT paid $4 million for the 245-bed skilled nursing facility, which is located on a 12-acre parcel. Built in 2007, is the newest skilled nursing facility in the Quad Cities, according to the buyer. The facility offers full inpatient rehabilitation, respite stays, hospice services, individualized care plans, restorative therapy programs, a secured memory care unit and a variety of activities …

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AcquisitionsMassachusettsNewsSkilled Nursing

Blueprint Brokers Sale of 572-Bed Skilled Nursing Portfolio in Massachusetts

by Jeff Shaw

MASSACHUSETTS — Blueprint Healthcare Real Estate Advisors has arranged the sale of four skilled nursing facilities totaling 572 beds in Eastern Massachusetts. A court-appointed receiver sold the facilities in two separate transactions. The price was not disclosed. A regional operator had taken over operations as interim manager. The company partnered with a capital partner to acquire all four facilities.

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DevelopmentNew JerseyNewsSkilled Nursing

Crest Pointe Breaks Ground on 3,000 SF Therapy Gym Expansion in Point Pleasant, New Jersey

by Jeff Shaw

POINT PLEASANT, N.J. —Crest Pointe  Rehabilitation & Healthcare Center has broken ground on a 3,000-square-foot building expansion. The new therapy gym is part of a multi-million-dollar renovation project at the skilled nursing facility in Point Pleasant, approximately 50 miles south of New York City on the Jersey Shore. Crest Pointe is working with Marquis Health Services, a leading nursing home consulting firm, on the design and implementation of the renovation project. A timeline for completion was not released.

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FinanceNew YorkNewsSkilled NursingTennessee

Dwight Capital Funds $49.5M HUD Funding for Skilled Nursing Facilities in Memphis, New York City

by Jeff Shaw

MEMPHIS, Tenn., and NEW YORK CITY — Dwight Capital has provided a total of $49.5 million in HUD financing for two skilled nursing facilities. In the first transaction, Dwight provided $25.7 million in HUD funding for Graceland Rehabilitation and Nursing Center in Memphis. The property features 221 beds. In the second transaction, Dwight funded a $23.8 million HUD 232/223(a)(7) loan for Eastchester Rehabilitation and Health Care Center, a 200-bed skilled nursing facility in the Bronx. Further details were not disclosed.

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NewsPeopleSkilled Nursing

Regional Health Properties Names Ben Waites as Chief Financial Officer

by Jeff Shaw

ATLANTA — Regional Health Properties Inc. (NYSE: RHE), a self-managed healthcare real estate investment company based in Atlanta that invests primarily in senior living and long-term care, has hired Ben Waites as chief financial officer and vice president. Most recently, Waites spent 10 years as vice president of finance and assistant treasurer for Cajun Operating Company Inc., the franchisor and operator of over 1,600 restaurant locations. In this role, he refinanced the organization’s debt, realizing more than $8 million in annual interest savings and restructured all bank relationships. Waites previously …

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FinanceMontanaNewsSkilled Nursing

Monticello Provides $2M in Working Capital for 338-Bed Skilled Nursing Portfolio in Montana

by Jeff Shaw

MONTANA — Monticello has provided a $2 million working capital loan to the operating companies of two skilled nursing facilities totaling 338 beds in Montana. Monticello’s asset-based lending group, Monticello Commercial Capital LLC, provided the financing. No further details were disclosed.

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CCRCDevelopmentIllinoisNewsSkilled Nursing

Smith Senior Living Opens $24M Rehab Expansion at Smith Crossing in Orland Park, Illinois

by Jeff Shaw

ORLAND PARK, Ill. — Smith Senior Living has opened Smith Crossing Greenleaf Rehab, a 46-suite short-term rehabilitation expansion at its Smith Crossing community in the Chicago suburb of Orland Park. The two-story, 45,222 square-foot building is connected with a passageway to the west side of the main building on Smith Crossing’s 32-acre. This expansion increases the total square footage of its main building to almost 506,000 square-feet of residences and common areas. With the $24 million addition of the new rehab wing, Smith Crossing has invested $119 million in building …

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AcquisitionsNewsOhioOperationsSkilled Nursing

Blueprint Arranges Lease of Four Skilled Nursing Facilities in Ohio

by Jeff Shaw

OHIO — Blueprint Healthcare Real Estate Advisors has arranged a new lease for four skilled nursing facilities in Ohio for an undisclosed price. The portfolio is located in northwest Ohio near the Indiana border, as well as the Columbus and Cincinnati metro areas. The four properties total 613 licensed beds. The Columbus-based operator was seeking an exit to the skilled nursing industry, so the REIT owner sought a replacement. Blueprint helped replace the operator and negotiate the new lease.

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