Bravo Property Trust, an affiliate of Bravo Capital, provided a $10.0 million bridge loan to Birchwood Health Care Partners for the acquisition of a skilled nursing facility in Des Moines, Iowa. The building was constructed in 2016 as a senior care campus with 70 skilled nursing beds and 30 assisted living beds. The previous owner converted the AL units to SNF beds in October 2022, and the building was re-licensed as a 100-bed SNF in December 2022. With occupancy based on 100 SNF beds beginning in October 2022, the facility leased up over the next nine months and stabilized in August 2023 at 91%.
Bravo Provides $10M Bridge Acquisition Loan
