UTAH — CFG, a subsidiary of CFG Bank, has provided $16.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The properies, which are in Utah, support a total of 220 beds. The deal allowed the undisclosed borrower to expand its footprint into a new state. Further details were not disclosed. Tommy Dillon of CFG originated the transaction.
CHICAGO — Ziegler has arranged the sale of a 100-plus-bed skilled nursing facility in a northern neighborhood of Chicago. Ziegler advised the seller, an Illinois-based nonprofit. A local operator acquired the asset for an undisclosed price. Nick Glaisner, managing director in Ziegler’s seniors housing and care practice, led the transaction with the support of Melanie Shaffer.
ILLINOIS and WISCONSIN — Walker & Dunlop Inc. has originated $65.7 million in 232/223(f) and 241(a) HUD loans for seven skilled nursing facilities and memory care centers across Illinois and Wisconsin. Walker & Dunlop’s Midwest FHA Finance team, led by Joshua Rosen, Brad Annis, and Johnny Rice, arranged the construction loan and refinancings on behalf of five clients. The loans included: Elevate Care Waukegan Location: Waukegan, Illinois Amount: $21.2 million Walker & Dunlop arranged a 232/223(f) HUD loan to refinance existing commercial debt, partnership debt, and fund recent capital improvements …
COLUMBIA, MO., and HOUSTON — CareTrust REIT Inc. (NYSE: CTRE) has acquired three skilled nursing facilities for approximately $55.6 million, inclusive of transaction costs. The portfolio, consisting of 210 skilled nursing beds and 24 assisted living units, will be added to CareTrust’s existing master lease with affiliates of PACS Group Inc., which has been operating the facilities for a third-party landlord. Two of the facilities are located in Houston and one is located in Columbia. The acquisition increases annual rent under the existing PACS master lease by approximately $5 million. …
ATCHISON, Kan. — The Ensign Group Inc. (Nasdaq: ENSG) has acquired the real estate and operations of Atchison Senior Village Rehabilitation and Nursing Center, a 45-bed skilled nursing facility located in Atchison, located along the Missouri river approximately 45 miles northwest of Kansas City. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company. Gateway Healthcare, Ensign’s Kansas-based subsidiary, will handle operations. In a separate transaction on the same day, Ensign announced that its affiliates acquired the operations of Park Post …
DOVER, Del. — Evans Senior Investments (ESI) has arranged the sale of Courtland Manor, a skilled nursing community in Dover. An independent owner-operator sold the asset for $10 million, or $142,857 per bed. The buyer was a New York-based owner-operator. Since its inception in 1986, Courtland Manor has been under the ownership and operation of the seller. It features 70 licensed beds and a five-star CMS rating. Courtland Manor has historically maintained high occupancy rates, boasting figures in the high 80 percent range prior to COVID-19. Despite the challenges posed …
TEXAS — Sherman & Roylance has negotiated the sale of a 104-bed skilled nursing facility in Texas. A physician owner sold the asset to a California-based buyer for $8.1 million. Sherman & Roylance also arranged acquisition financing. The facility was built in 2018 and features 94 Medicare and 10 Medicaid beds. Further details were not disclosed.
TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities totaling 320 licensed beds in East Texas. Following historical census lows and staffing challenges endured as a result of the pandemic, the two facilities were positively trending back towards historically achieved stabilized levels when the seller sought an exit. Further enhancing the attractiveness of the opportunity was the assumable HUD debt featuring an interest rate of 2.9 percent and a remaining term of over 25 years. Details on the buyer, seller and price were …
DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Oaks of West Kittering, a skilled nursing facility in Dayton. The community was built in 1973 and features 118 licensed beds. A regional owner-operator sold the property as part of its shift to other asset classes. An owner-operator with a presence in Ohio purchased the facility for an undisclosed price. Connor Doherty and Ryan Kelly led the Blueprint team.
COLUMBUS, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a seniors housing community in Columbus. The property faced challenges with occupancy and escalating staffing expenditures, which is why the owner sought a sale, according to Blueprint The community, which opened 2001, comprises 125 licensed skilled nursing beds and 32 seniors housing units. The buyer was an owner-operator with an established Ohio healthcare enterprise that sought to expand its footprint in the Columbus MSA and capitalize on the recent Ohio Medicaid reimbursement rate enhancements for both skilled …