Links Healthcare Group Buys Two Senior Care Facilities
Links Healthcare Group announced the purchase of two seniors housing communities in San Jose, California. The first purchase was of a skilled nursing facility by the name of Westwood Post-Acute comprising 268 beds. Link’s second acquisition was Westgate Villa Assisted Living comprising 60 units, but both properties sit adjacent to each other. The seller of the two communities was listed as entities affiliated with Stamm Care Homes. Links previously operated the facilities under a lease and had a purchase option for the two buildings. Forbright Bank provided a $38.5 million acquisition loan for Links Healthcare Group to finance the purchase, according to public records. Read More »
Harrison Street Acquires Two Colorado Communities
Harrison Street acquired two Colorado senior living assets from CA Ventures, for an undisclosed price. The deal included the Westminster community totaling 137 units nine miles northwest of downtown Denver near a prominent retail corridor and residential neighborhoods. The upscale senior living community includes 107 assisted living units and 30 memory care units. The other target was the Englewood community, which totals 130 units seven miles south of downtown Denver and features unobstructed views of the Rocky Mountains and Cherry Hills Country Club. The property comprises 106 assisted living units and 24 memory care units across seven stories. Despite opening in February 2020, the... Read More »
Connecticut SNF Portfolio Finds New Owner
Blueprint Healthcare Real Estate Advisors has arranged the sale of a Connecticut skilled nursing portfolio on behalf of a joint venture owner. The portfolio comprises three facilities totaling more than 380 units in the greater Hartford area. The facilities had historically maintained stable census levels with a steady stream of referrals and admissions from regional referral sources, including Hartford Hospital, Manchester Memorial and Rockville General. Multiple parties were interested in the portfolio, but it ultimately sold to a regional acquirer. The buyer plans to focus on operational efficiencies, including addressing excess staffing, as well as investing in capital projects at the... Read More »
NHI Arranges Texas SNF Portfolio Refinancing and Exercises Virginia Beach Acquisition
National Health Investors has funded the refinance of a skilled nursing facility portfolio in the state of Texas. The $42.5 million senior loan was provided to an affiliate of Capital Funding Group, and the properties are leased by subsidiaries of The Ensign Group. The five-year loan has an annual interest rate of 7.25% with two one-year extensions. The REIT also announced that it exercised its option to acquire Bickford of Virginia Beach, a 60-unit assisted living/memory care community in Virginia Beach. The acquisition was primarily funded with the satisfaction of a $14 million construction loan due from Bickford Senior Living. The community was added to an existing master lease with... Read More »