OHIO — Ziegler has acted as sell-side financial advisor to the sale of a portfolio located in Northern Ohio. The portfolio comprised three buildings consisting of 182 skilled nursing beds and 24 behavioral health beds. The seller is a leading nonprofit organization dedicated to providing affordable housing, healthcare and supportive services to various populations, including seniors, veterans and families in need. The portfolio represents the organization’s only healthcare properties in Ohio. The buyer is a privately held, for-profit owner and operator based in Englewood Cliffs, New Jersey, that intends to …
WASHINGTON and IDAHO — Capital Funding Group (CFG) has provided a HUD financing package totaling $42 million. The package included three loans supporting the refinancing of existing bridge loans for three skilled nursing facilities: Tim Eberhardt and Ava Julio originated the transaction. The borrower was not disclosed.
TUCSON, Ariz. — Greystone has provided a $29.4 million HUD-insured loan to refinance a 240-bed skilled nursing facility in Tucson. Eric Rosenstock originated the loan on behalf of Sapphire of Tucson Properties LLC. Sandstone of Tucson Rehab Centre in Pima County is a long-term skilled nursing and post-acute rehabilitation facility that includes 127 units, consisting of 43 private and 84 semi-private rooms. The permanent FHA loan carries a 35-year term and amortization.
BALLWIN, Mo. — IMPACT Strategies Inc. has completed The Rehabilitation Institute of St. Louis – West County in Ballwin, a suburb west of St. Louis. Encompass Health Corporation and BJC HealthCare held a ribbon cutting at the property in May 2024. This inpatient rehabilitation hospital is an expansion of the current joint venture between Encompass and BJC, which already includes three hospitals known as The Rehabilitation Institute of St. Louis, The Rehabilitation Institute of Southern Illinois and The Rehabilitation Institute of St. Louis located in St. Peters. The recently completed …
Despite years of build-up, the new skilled nursing payment model has flown under the radar since its implementation. Operators assess the impact. By Jeff Shaw In the years leading up to the implementation of the Patient-Driven Payment Model (PDPM), there was plenty of discussion and handwringing over the impact it would have on the skilled nursing industry. Officially launched on Oct. 1, 2019, by the Centers for Medicare & Medicaid Services (CMS), the model was supposed to be a sea change for healthcare billing and services. The impetus, at the …
HOUSTON, Miss. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Trace Extended Care, a 66-bed skilled nursing facility in Houston. Located in Chickasaw County, the property is 30 miles southwest of Tupelo and five miles north of the Natchez Trace Parkway. The seller is Sunlink Health Systems Inc. (NYSE: American SSY), which was looking to redeploy capital and focus on its core business. The buyer is a Mississippi-based group looking to add to its existing presence in Mississippi. Daniel Geraghty and Bradley Clousing handled the transaction for …
PARIS, Tenn. — Evans Senior Investments (ESI) has arranged the sale of Henry County Healthcare Center, a 136-bed skilled nursing facility in Paris, located near the Kentucky border west of Nashville and northeast of Memphis. The transaction was executed on behalf of Henry County. Built in 2001, Henry County Healthcare Center sits on five acres of land. At the time of marketing, the facility was only 43 percent occupied and experiencing negative cash flows. Since the COVID-19 pandemic, the community has consistently remained below a 50 percent occupancy level. Although …
FLORHAM PARK, N.J. — Marquis Health Consulting Services has opened Florham Park Rehabilitation & Healthcare Center, a skilled nursing facility in Florham Park, approximately 30 miles west of New York City. The 101-bed facility is located on the former Lutheran Ministries healthcare campus. The only skilled nursing center in Florham Park, the three-story, 43,000-square-foot building (formerly The Villa at Florham Park) is undergoing a top-to-bottom, multi-phase renovation and modernization following an ownership change. Phase I focused on the updating and remodeling of patient areas and has been completed. Phase II …
AURORA, Colo. — Evans Senior Investments (ESI) has arranged the sale of Summit Rehabilitation & Care Community, a 110-bed skilled nursing facility in the Denver suburb of Aurora. The seller was an independent owner-operator. An East Coast-based real estate holding company acquired the asset for an undisclosed price. ESI also helped arrange a new tenant for the property. Built in 1972 with a 2018 renovation, Summit Rehabilitation & Care Community maintained a 95 percent occupancy rate, generating over $11.9 million in annual revenue.
LAS VEGAS — Evans Senior Investments (ESI) has arranged the sale of a 45-bed post-acute rehab community in Las Vegas. The seller was a regional owner-operator. A national owner-operator with a presence in Nevada acquired the asset for $8.5 million, or $188,888 per bed. The community, exclusively licensed to accept Medicare only, has provided skilled nursing care since its inception in 2015. At the time of marketing, the facility was 73 percent occupied and had struggled to maintain healthy occupancy levels in previous months. Despite these challenges, ESI noted the …