GLOVERSVILLE, N.Y. — M&T Realty Capital Corp. has provided a $14.9 million FHA-insured loan to refinance of a 176-bed skilled nursing facility in Gloversville, approximately midway between Albany and Utica. The loan was completed under the FHA 223(f) program. The 35-year loan is fully amortizing and features a fixed interest rate of 3.25 percent. Paula Quigley and Matt Pipitone of M&T Realty Capital’s Baltimore office led the transaction in collaboration with Jennifer Kooney of M&T Bank’s Tarrytown, N.Y., office. Quigley also serves as the FHA/HUD program manager for M&T Realty …
Skilled Nursing
NORFOLK, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Thornton Hall Nursing and Rehabilitation, a 60-bed skilled nursing facility in Norfolk. A skilled nursing investor with an expanding presence in Virginia made an unsolicited offer on the property, prompting the existing owner-operator to sell. The price was not disclosed. Steve Thomes and Michael Segal led the effort on behalf of Blueprint.
CHATHAM, N.J. — M&T Realty Capital Corp. has provided a $12.1 million FHA-insured loan to refinance of a 108-bed skilled nursing facility in Chatham. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) 223(f) program. The 35-year, fully amortizing loan features a fixed rate of 3.26 percent. The borrower and name of facility were not disclosed. Paula Quigley and Matt Pipitone of M&T Realty Capital’s Baltimore office, in collaboration with Jennifer Kooney of M&T Bank’s Tarrytown, N.Y. office, led the transaction. Quigley also serves as …
TEXARKANA, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of Christian Care Center of Texarkana, a 114-bed skilled nursing facility in Texarkana. A public REIT sold the property to a regional provider for an undisclosed sum. Originally constructed in 1972, Christian Care Center of Texarkana was designed with three resident wings to offer rehabilitation, skilled nursing, cognitive care and long-term care. In recent years, overall census and quality mix declined, leading the operator to temporarily close one of the resident wings for efficiency and expense management purposes. …
GRAVES COUNTY, Ky. — Senwell Senior Investment Advisors has arranged the sale of a 73-bed skilled nursing facility in the Purchase Region of Graves County, located in the southwest corner of the state near the Tennessee border. The seller was looking to exit in order to focus more attention on their core assets. A buyer expanding in the region acquired the property in an off-market transaction. Ben Bohland and Brandon Bohland of Senwell facilitated the transaction. The price and name of the facility were not disclosed.
Capital Funding Provides $14.5M Bridge Loan for Two Skilled Nursing Facilities in Southeast
by Jeff Shaw
EMPORIA, Va., and LOUISVILLE, Ky. — Capital Funding has provided a $14.5 million bridge-to-HUD loan to The Portopiccolo Group. The funds will be used to acquire one skilled nursing facility, Emporia Manor, and cross-collateralize it with another facility, Sycamore Heights Health and Rehabilitation. Emporia Manor is a 120-bed facility in Emporia, while Sycamore Heights is a 96-bed facility in Louisville. The Portopiccolo Group, a family owned private equity and investment management firm, will own both properties following the transaction. Clearview Healthcare Management operates Sycamore, while Accordius Health will operate Emporia. …
Harborview Capital Partners Arranges $60M in HUD Loans for Properties in Illinois, New Jersey
by Jeff Shaw
ILLINOIS and NEW JERSEY — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a total of $60 million in HUD financing for a portfolio of skilled nursing facilities in Illinois and New Jersey. In the first loan, Harborview arranged $7 million in financing for a 96-bed skilled nursing facility in Lake County, Illinois. The non-recourse loan features a 35-year amortization. Ephraim Kutner and Jonathan Kutner originated the transaction. Harborview also placed $53 million in HUD refinancings for multiple skilled nursing facilities totaling more than …
MOUNT PLEASANT and LENOIR CITY, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mount Pleasant Health and Rehabilitation in Mount Pleasant and Trinity Health and Rehabilitation in Lenoir City. The properties are approximately 200 miles apart. Mount Pleasant features 72 beds and 30 independent living units in a 39,048-square-foot property situated on six acres south of Nashville. Trinity features 104 skilled nursing beds and a vacant assisted living area in a 57,686-square-foot property on 4.7 acres southwest of Knoxville. Bradley Clousing, Daniel Geraghty and Ryan Saul …
Dwight Capital Provides $50.8M Financing for Silver Healthcare Center in Cherry Hill, New Jersey
by Jeff Shaw
CHERRY HILL, N.J. — Dwight Capital has provided a $50.8 million loan for Silver Healthcare Center, a 246-bed skilled nursing facility in Cherry Hill, a suburb of Philadelphia. The 129,530-square-foot property was built on 7.9 acres in 2002. The use of the HUD loan was not disclosed.
BREWSTER, Mass. — OREC Securities, the investment banking affiliate of Lancaster Pollard, has arranged the sale of Pleasant Bay Nursing and Rehabilitation Center in the Cape Cod town of Brewster. The community is a five-star rated facility with 135 skilled nursing beds and 59 assisted living units. Although the original plan was to split the community into two separate sales, a regional owner-operator bought the properties as a single asset. Laca Wong-Hammond, Chad Elliott, Kevin Laidlaw and Aaron Becker led the transaction for OREC. The seller and price were not …