We know how long skilled nursing acquisitions can take in the state of New York. That didn’t stop Maximus Healthcare LLC from acquiring Briody’s Health Care, an 82-bed skilled nursing facility in Lockport, New York (just outside of Rochester). It was first announced back in May 2015 that Maximus intended to acquire the facility, which had been owned by the Briody family for three generations. But the family’s presence at the facility will still be felt, with the existing administrator, Ann Briody Petock, electing to stay on. To finance the acquisition, Craig Casagrande of Capital Funding Group originated a $6.683 million bridge loan. Maximus also has plans to modernize the facility’s common areas and resident rooms, in addition to enhancing the rehabilitation program, and enlisted the help of Brian Stromberg to originate a $1 million working capital line of credit.
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