Changes to the 5-star rating system?
David Friend is a Managing Director and CTO at BDO Center for Healthcare Excellence & Innovation. He has more than 35 years of global healthcare experience and provides advice on mergers and acquisitions, strategy, clinical integration, physician engagement, and enhancing shareholder value. He received his BA from Brandeis University, his MBA from The Wharton School of The University of Pennsylvania and his PhD from The University of Connecticut. Steve Monroe I’m lucky to have here with us David Friend. He’s a managing director and chief transformational officer for BDO. David, we all know, and you’re obviously on top of all this, that the skilled nursing facilities... Read More »Merry Commissions
A year-end tribute to the seniors housing and care brokers. Twas the night before Christmas and all through the building Not a broker was stirring, not even Brad Clousing The listings were hung by Mike with care In hopes that Chris Brogdon soon would be there. Myers and Jandris were all snuggled in their beds While visions of commissions danced in their heads And Knapp in his kerchief, and Gianinni in his cap Had just settled their brains for a long winter’s nap. When out on the lawn, there arose such a clatter Bruce Gibson sprang into action to see what was the matter The PE firms were in the hunt, the REITs were still hungry It looked like it was all up to Allen McMurtry.... Read More »Trio of transactions
The Healthcare Lending group of Congressional Bank recently announced that it closed three separate transactions (with five loans) totaling $11.6 million, which all helped facilitate acquisitions for the borrowers. First, Congressional provided a $3 million bridge-to-HUD loan and a $1.5 million revolving line of credit, both with three year terms, to fund the purchase and ongoing capital needs of a 107-bed skilled nursing facility in New Bedford, Massachusetts. The buyer, a regional owner/operator, paid $3.21 million for the 40-year old facility, which was losing money and was 82% occupied. Second, Birchwood Health Care Properties received a $2.6 million bridge-to-HUD loan and a $500,000... Read More »Freddie Mac comes to Silicon Valley
On behalf of Kisco Senior Living, Jessica Wolters of JLL Capital Markets led the way in originating a $32.5 million refinance, with a 10-year fixed-rate term, provided by Freddie Mac’s Capital Markets Execution program. The community being refinanced, a 133-unit independent/assisted living community in Los Altos, California, was built in 1973 but was bought for $16 million, or $106,700 per unit (when it had 150 units), and renovated in 1998 by TransAmerica Senior Living (which was itself bought by Kisco in 2001). Considering today’s $244,400 per unit refinance, it’s clear that Kisco has significantly increased the value of the property. Read More »Schedule a demo
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