Blueprint Handles Florence County Deal
Kyle Hallion, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors were brought on by a repeat institutional owner/operator client to sell Florence Place, a 61-unit assisted living/memory care community in Florence, South Carolina, that was built in 1999. The seller decided to divest at the start of 2023, following the implementation of in-house and street rate increases that resulted in double-digit revenue growth over the prior year. Blueprint targeted both individual regional and portfolio-specific buyers. A Southeast-based owner/operator was selected to acquire the community, raising sufficient equity to close the transaction with all cash at the originally... Read More »
HTG Sells SNF in Texas
Mark Davis of Healthcare Transactions Group handled the sale of a skilled nursing facility in Abilene, Texas. Built in 1962, the facility has 96 beds and 23,500 square feet in one story. It maintained a three-star rating with CMS, and the facility participates in Texas’s QIPP Program with Childress County Hospital, but no other operational details were disclosed. The buyer ended up being an existing owner/operator with multiple locations in Texas. The purchase price remained confidential. Read More »
CFG Returns to Refinance California SNF
Capital Funding Group (CFG) closed a $43.39 million HUD loan to refinance an existing bridge loan that had also been executed by CFG. The initial loan, closed in June 2021, allowed the nationally recognized borrower to acquire a 140-bed skilled nursing facility in Bakersfield, California, and then the refinancing allowed the borrower to have a successful take out. Built in 2018, the facility was 95% occupied as of March 2023. Capital Funding Group Director, Long-Term Care Patrick McGovern originated the transaction for the company. The financing follows CFG’s recent closing of a $15.49 million HUD loan, which supported the refinancing of an existing bridge loan, also executed by... Read More »
Dwight Capital Closes Bridge Loan
Dwight Capital closed a $29.5 million bridge loan for a portfolio of five skilled nursing and assisted living properties in Minnesota, Ohio and Wisconsin: Eden Vista of Stow, Evansville Manor, Edenbrook Fond du Lac, Edenbrook of Rochester and Edenbrook of Edina. Together, the facilities consist of 441 beds across 25 acres. The purpose of the loan was to refinance three of the facilities and acquire the other two. Dwight has financed over 20 properties for this repeat client. Managing Director of Healthcare Finance Adam Offman originated this transaction. Read More »
Inspired Healthcare Capital Acquires Class-A Community
A Class-A, well performing seniors housing community traded in North Haven, Connecticut, with the seller capitalizing on an opportunistic disposition to lock in returns and return capital to investors early in the fund’s life. Built in 2019, The Landing of North Haven features more than 100 units of assisted living and memory care on an 11-acre campus. Lease-up was solid through the pandemic, as were rates and margin, highlighting the advantages of Class-A buildings in good locations during the pandemic recovery and ensuing inflation. So, as occupancy approached stabilization, there was meaningful cash flow and a very positive performance trend. A strong and diverse bidder pool that... Read More »Schedule a demo
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