Skilled Nursing

Blueprint Negotiates Sale of 78-Unit Community in Katy, Texas

by Jeff Shaw April 18, 2024

KATY, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and skilled nursing facility in Katy, a suburb of Houston. Opened in 2018, the facility consists of 70 short-term rehab beds and 34 assisted living beds across 78 units. The community maintained a steady lease-up trajectory that was quickly halted due to industry-wide COVID headwinds that caused statewide decreases in elective surgeries. With a minimal amount of dually certified beds, the seller struggled to turn a profit, according to Blueprint. The seller was a …

April 18, 2024

Acquisitions News Skilled Nursing Tennessee

Blueprint Brokers Sale of 81-Bed Skilled Nursing Facility in Madisonville, Tennessee

by Jeff Shaw April 17, 2024

MADISONVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 81-bed skilled nursing facility in Madisonville, located between Knoxville and Chattanooga. The seller was The Trousdale Foundation, a nonprofit owner through Trousdale Living Communities. The buyer was a New York-based provider. Although the price was not disclosed, the per-bed price of $150,000 equates to approximately $12 million. Constructed in 1982, the asset is located on four acres approximately 10 miles south of Sweetwater Hospital. As the only licensed provider in the city, the high-quality facility generated …

April 17, 2024

Acquisitions Louisiana News Skilled Nursing

ESI Negotiates Sale of Two Skilled Nursing Facilities in Louisiana

by Jeff Shaw April 11, 2024

LAKE CHARLES, La. — Evans Senior Investments (ESI) has arranged a stock sale for a two-property skilled nursing portfolio in southwest Louisiana. The transaction was completed on behalf of an independent owner. Built in 1970 and 1972 and situated just 10 miles from one another in the Lake Charles area, the two communities comprise a total of 350 beds. Prior to the COVID outbreak, the portfolio maintained an average occupancy rate of 72 percent. A few months into the pandemic, Hurricane Laura devastated the area, causing both communities to require …

April 11, 2024

Development News Pennsylvania Skilled Nursing

Marquis Completes Phase I of Renovations at Roosevelt Rehabilitation in Philadelphia

by Jeff Shaw April 10, 2024

PHILADELPHIA — Marquis Health Consulting Services has completed Phase I of a renovation project at Roosevelt Rehabilitation & Healthcare Center in the Rhawnhurst neighborhood of Philadelphia. The 240-bed skilled nursing facility provides post-hospital care, short-term rehab and long-term residential care. “Roosevelt is being completely transformed into a modern, home-like environment for residents — one that accommodates progressive skilled nursing care and services,” says Danielle Koons, senior regional director of market development for Marquis Health Consulting Services. A centerpiece of the renovation to date is the addition of a 3,600-square-foot rehab therapy …

April 10, 2024

Acquisitions News Skilled Nursing Texas

LTC Provides $12.7M Acquisition Loan for Seniors Housing Campus in Katy, Texas

by Jeff Shaw April 9, 2024

KATY, Texas — LTC Properties Inc. (NYSE: LTC) has provided a $12.7 million senior loan to Ignite Medical Resorts for the acquisition of a skilled nursing and assisted living campus in Katy, a suburb west of Houston. The investment will be an unconsolidated joint venture between LTC and Ignite. The five-year loan features full-term interest-only payments at a current rate of 9.15 percent. It includes a capital expenditures investment of approximately $800,000 for campus improvements. LTC expects this investment to generate approximately $884,000 of revenue in 2024. The campus was …

April 9, 2024

Acquisitions Assisted Living News Skilled Nursing Texas

SLIB Negotiates Sale of Two-Property Portfolio in Texas

by Jeff Shaw April 5, 2024

BRYAN and CALDWELL, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and skilled nursing facility in Bryan, as well as a skilled nursing facility in Caldwell. The cities are located east of Austin and northwest of Houston. Offering 237 beds, the communities total approximately 137,265 square feet. The seller is a nonprofit Catholic hospital system, which was selling its only skilled nursing/seniors housing communities. The buyer owns several skilled nursing facilities in Texas and is leasing the operations of these buildings to a …

April 5, 2024

Acquisitions Connecticut News Skilled Nursing

SLIB Brokers Sale of 90-Bed Miller Memorial Community in Meriden, Connecticut

by Jeff Shaw April 4, 2024

MERIDEN, Conn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Miller Memorial Community in Meriden, approximately midway between Hartford and New Haven. The 90-bed skilled nursing community also features 19 cottage-style apartment units. The campus was under nonprofit ownership since its inception. While the community was operating at a heavy loss during the marketing period, buyers were attracted to the community due to it being non-union and having an above-average Medicaid rate, according to SLIB. The seller is a nonprofit based in Connecticut that had owned and …

April 4, 2024

Finance Florida News Skilled Nursing

CFG Provides $17.3M HUD Financing for Two Skilled Nursing Facilities in Florida

by Jeff Shaw April 2, 2024

FLORIDA — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $17.4 million to refinance debt on two skilled nursing facilities in Florida. The facilities feature a total of 261 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio of CFG originated the transaction.

April 2, 2024

Finance Illinois News Skilled Nursing

CFG Funds $13.6M Refinancing for Two Skilled Nursing Facilities in Illinois

by Jeff Shaw March 28, 2024

ILLINOIS — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $13.6 million to refinance debt on two skilled nursing facilities in Illinois. The facilities accommodate a total of 173 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio originated the transaction for CFG.

March 28, 2024

Acquisitions Kansas News Skilled Nursing

Marcus & Millichap Negotiates Sale of 78-Bed Providence Living Center in Topeka, Kansas

by Jeff Shaw March 27, 2024

TOPEKA, Kan. — Marcus & Millichap has arranged the sale of Providence Living Center, a 78-bed, 24,000-square-foot nursing facility in Topeka. A limited liability company sold the asset to an undisclosed buyer for an undisclosed price. The Marcus & Millichap team included Rod Llanos and Colby Haugness.

March 27, 2024

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