The Ensign Group Acquires Eight Operations
The Ensign Group acquired the operations of seven skilled nursing facilities in Colorado, which are all subject to long-term, triple net leases. The facilities include Desert Will Health and Rehabilitation Center (106 beds in Pueblo), Junction Creek Health and Rehabilitation Center (133 beds in Durango) and Pelican Pointe Health and Rehabilitation Center (104 beds in Windsor). Additional facilities included in the transaction include Riverbend Health and Rehabilitation Center (100 beds, Loveland), Broadview Health and Rehabilitation Center (100 beds, Greeley), Westlake Lodge Health and Rehabilitation Center (107 beds, Greeley)and Linden Place Health and Rehabilitation Center (110 beds,... Read More »
CareTrust’s Latest Acquisitions & Pipeline Replenishment
CareTrust REIT announced the acquisition of two performing skilled nursing facilities in separate transactions with a total investment amount of approximately $62.1 million. On August 29, the company acquired a 125-bed SNF in the Mid-Atlantic, and on August 7, it closed an investment in a 134-bed SNF located on the West Coast. CareTrust’s investment in the Mid-Atlantic facility, inclusive of transaction costs, was approximately $37.7 million, or $302,000 per bed, and will generate initial annual base rent of approximately $3.4 million. The company has leased the facility pursuant to a new 15-year, triple-net lease that includes two five-year extension options and annual CPI-based... Read More »
MIG Closes Another Missouri SNF Transaction
Andrew Montgomery of Montgomery Intermediary Group continues to show his strength in the Show Me State, closing another skilled nursing deal in Missouri. Featuring more than 100 beds and being an older vintage, the facility is located in a rural market. It was a geographic outlier for the seller, which wanted to focus in areas they had more of a presence. The facility came with an assumable loan but was under 50% occupied. So, it was marketed as a turnaround opportunity. The eventual buyer owns and operates facilities across the state and focuses more on a behavioral health SNF model. Read More »
VIUM’s End-of-Summer Surge
VIUM Capital is closing out its summer with a bang, announcing 15 transactions totaling more than $180 million in volume in July and August, alone. The majority of those closings were HUD 232/223f transactions that paid off bridge loans originally originated by VIUM over the last few years. In 2024 to date, VIUM has closed over $500 million of debt transactions, with more to come in the remaining months of the year. It is also worth noting that in less than five years since its launch, VIUM has now funded over 200 senior debt transactions in the seniors housing and healthcare real estate sector, totaling over 400 properties in more than 30 states. It is forecast to surpass $5 billion of... Read More »
Chartwell Makes Three Acquisitions in British Columbia
Chartwell Retirement Residences entered into definitive agreements for acquisitions of three modern retirement residences on Vancouver Island. Together, the communities total 384 units. The aggregate purchase price is US$168.4 million. Built in 2023, Vista Retirement Residence stands 11 stories tall and comprises 104 independent supporting living and 48 memory care units in Victoria. The community is currently 28% occupied. The gross purchase price is US$77 million, or US$506,600 per unit, of which US$6.8 million will be held in escrow to support sellers’ obligation under a 24-month NOI guarantee. Built in 2018, Nanaimo Memory Care features 77 memory care units in Nanaimo with... Read More »Schedule a demo
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