VIUM Capital has provided financing for two transactions spanning seven total properties. The first deal involved the acquisition of a six-property portfolio consisting of five skilled nursing facilities and one assisted living community. The properties, all located in southeast Michigan, were purchased for $64.44 million and received $58 million of bridge-to-HUD financing. Funds were provided for acquisition costs and capex being used to improve building aesthetics, add a short-term rehab in one of the buildings and other specialty units. The financing includes a debt structure of $54 million of A notes and $4 million of B notes.
The second financing was for the purchase of Bria of Trinity, a CCRC in Milwaukee, Wisconsin. According to nursinghomedatabase.com, the community has 87 certified beds and an 82.4% occupancy as of October 1, 2021. The community was bought for $25 million, or $287,000 per unit. VIUM provided a $21.25 million bridge-to-HUD loan for the buyer to acquire the CCRC. It was the seller’s only property in Wisconsin and the buyers were looking to grow their presence in the state. The buyer and seller for both transactions were not disclosed.
