The team at MonticelloAM arranged acquisition financing for an experienced owner/operator’s purchase of six skilled nursing facilities across the state of Arkansas. Built in the 1980s and 1990s, the portfolio consists of 868 total beds. Occupancy averaged between 83% and 84% under the management of an affiliate of Capital Health Group. Private REIT CNL Healthcare Properties was the seller, hiring Newmark Knight Frank to run the sales process. The deal closed in early March.
The purchase price came to $55 million, or $63,400 per bed, and was financed by $50 million in first lien debt, with a 36-month term, provided by MonticelloAM. Included in the transaction was a $2 million working capital loan provided to buyer’s operating company.
