ATLANTA; MEMPHIS, Tenn.; MOBILE, Ala.; and SHREVEPORT, La. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $142 million bridge acquisition loan for a portfolio of 10 skilled nursing facilities in prime urban areas surrounding Atlanta, Memphis, Mobile and Shreveport. The properties include Bell Minor Home, Cambridge Post Acute Care Center, Nurse Care of Buckhead, Riverside Health Care Center, Rockdale Healthcare Center, Westminster Commons, Millington Healthcare Center, Parkway Health and Rehabilitation Center, Kensington Health and Rehabilitation, and Highland Place Rehabilitation and Nursing. Collectively, these facilities total …
KNOXVILLE and MARYVILLE, Tenn. — Covenant Living Communities and Services and Presbyterian Homes of Tennessee, have closed on an affiliation with two communities in the metropolitan area of Knoxville. Shannondale of Knoxville, located in Knoxville, sits on 50 acres and offers independent living and assisted living comprising of 228 apartments, homes and duplexes. Shannondale of Maryville, 24 miles south of Knoxville, sits on 34 acres and offers independent living, assisted living and skilled nursing with 237 apartments, homes and duplexes. Under the agreement, the two communities are now affiliate members and …
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 …
TENNESSEE — Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant assisted living community in Tennessee. The buyer plans to convert the asset into a behavioral health facility. Upon the seller securing the specialized zoning entitlements for inpatient behavioral use, Blueprint’s team took the asset to market and procured an offer from a behavioral healthcare owner-operator that originally planned to purchase the asset, deploy capital improvements, and license the building as an inpatient substance abuse facility. However, during escrow, Blueprint was approached by an adolescent mental healthcare …
SPRING HILL, Tenn. — Ziegler has arranged $17.7 million in bond financing for HutsonWood at Spring Hill. The borrower will use the financing proceeds to acquire approximately 20 acres of land and to finance certain pre-construction development costs related to an expansion and repositioning of an existing skilled nursing and assisted living community in Spring Hill, a suburb south of Nashville. Upon completion of construction, the project will provide a full continuum of care for residents on an approximately 35-acre campus consisting of 172 independent living units, 24 assisted living …
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 …
KNOXVILLE, Tenn. — SRI Management, in conjunction with Bourne Financial Group, has acquired Trinity Hills of Knoxville. The community is located in the foothills of the Great Smoky Mountains in East Knoxville. It offers assisted living and memory care services. Further details were not disclosed.
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente-based REIT focused on skilled nursing properties, has funded a $26.7 million mortgage loan in connection with the borrower’s acquisition of a two-asset skilled nursing portfolio in Tennessee. The properties feature a combined total of 276 licensed beds. The borrower group under the loan is a regional healthcare real estate owner and investor. Affiliates of The Ensign Group Inc. (NASDAQ: ENSG) took over operations on May 1 pursuant to a new, long-term, triple-net master lease with the borrower. The loan …
KNOXVILLE and JACKSON, Tenn. — Berkadia has arranged the sale of two assisted living and memory care communities in Tennessee. Berkadia Seniors Housing & Healthcare, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, negotiated the 127-unit transaction on behalf of a publicly traded REIT. Mainstay Senior Living acquired the properties, which are located in the Knoxville and Jackson markets. Further details were not disclosed.
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 …
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