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DevelopmentNew JerseyNewsSkilled Nursing

Marquis Health Consulting Services Opens Florham Park Rehabilitation & Healthcare Center in New Jersey

by Jeff Shaw

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 …

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AcquisitionsColoradoNewsSkilled Nursing

ESI Negotiates Sale of 110-Bed Summit Rehabilitation in Aurora, Colorado

by Jeff Shaw

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.

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AcquisitionsNevadaNewsSkilled Nursing

ESI Brokers $8.5M Sale of Post-Acute Rehab Community in Las Vegas

by Jeff Shaw

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 …

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AcquisitionsKansasNewsSkilled Nursing

SLIB Negotiates Sale of 45-Bed Atchinson Senior Village in Kansas

by Jeff Shaw

ATCHISON, Kan. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Atchinson Senior Village in Atchinson, approximately 50 miles northwest of Kansas City.  Situated along the Missouri River in the northeast region of the state, Atchinson Senior Village offers 45 beds of skilled nursing care on approximately three-acre parcel.  Atchison County was the Seller. The buyer is a public company headquartered in California and seeking to expand its presence in Kansas. The price was not disclosed. Ryan Saul and Nick Cacciabando led the transaction for SLIB.

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AcquisitionsNewsSkilled Nursing

CareTrust REIT Acquires Five Skilled Nursing Facilities in Southeast for $81M

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente-based investor, has acquired a five-facility, 498-bed skilled nursing portfolio located in the Southeast for $80.9 million, including transaction costs. In connection with the acquisition, the company entered into a new triple-net master lease with affiliates of YAD Healthcare, a new operator relationship for the company and an experienced skilled nursing operator with facilities across multiple states in the Mid-Atlantic and Southeast. The lease has an initial term of 10 years with two five-year extension options and provides for a …

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AcquisitionsNewsOklahomaSkilled Nursing

Blueprint Arranges Sale of Seven-Property Skilled Nursing Portfolio in Oklahoma

by Jeff Shaw

OKLAHOMA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of seven skilled nursing facilities in Eastern Oklahoma. The seller was Birchwood Healthcare Partners, a Chicago-based private investor and owner-operator. A Missouri-based operator acquired the assets for an undisclosed price. The portfolio comprises 561 total licensed skilled nursing beds. The regionally clustered portfolio also benefited from the recent Medicaid rate increases and steady census rebounds, according to Blueprint. As part of the marketing, Blueprint cited attractive assumable HUD debt on select facilities, proof of concept and improved performance tracking …

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AcquisitionsNewsSkilled NursingTennessee

Lument Securities Arranges Sale of Summit View of Rocky Top Skilled Nursing Facility in Tennessee

by Jeff Shaw

ROCKY TOP, Tenn. — Lument Securities has arranged the sale of Summit View of Rocky Top, a 117-bed skilled nursing facility in Rocky Top, a suburb of Knoxville. The seller was a private long-term care operator based in Tennessee. The buyer and price were not disclosed. Laca Wong-Hammond and Isabel Carta led the transaction for Lument Securities. Summit View of Rocky Top offers a broad range of services, including short-term rehabilitation and traditional nursing care, along with an 18-bed behavioral health hospital. In recent years, Summit View experienced financial and …

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FinanceNewsNorth CarolinaSkilled Nursing

CFG Provides $36.2M Bridge Refinancing for Five Skilled Nursing Facilities in North Carolina

by Jeff Shaw

NORTH CAROLINA — Capital Funding Group (CFG) has provided a $36.2 million bridge-to-HUD loan to support the refinancing of five skilled nursing facilities in North Carolina. The properties feature a total of 522 beds. Through this deal, CFG refinanced an existing loan to include two additional underleveraged facilities.  Tommy Dillon of CFG originated the transaction. Further details were not disclosed.

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AcquisitionsConnecticutNewsSkilled Nursing

ESI Arranges the Sale of Eight-Property Portfolio in Metro Hartford, Connecticut

by Jeff Shaw

HARTFORD, Conn. — Evans Senior Investments (ESI) has arranged the sale of an eight-property skilled nursing portfolio across the Hartford area of Connecticut.  The transaction, executed on behalf of a REIT from the West Coast, amounted to $60 million, or $54,249 per bed for the real estate only. The buyer was the existing operator. Made up of eight communities built between 1966 and 1990, this portfolio represents a significant share of the Connecticut skilled nursing market, with a total of 1,106 skilled nursing beds.  Upon marketing, the portfolio’s average census …

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