Not-For-Profit Divests to Regional Provider
Blueprint was engaged by The Trousdale Foundation, a not-for-profit owner/operator based in Cleveland, Tennessee, to handle the off-market sale of Westmoreland Health and Rehabilitation Center, a 222-bed skilled nursing facility in Knoxville, Tennessee. Westmoreland was originally built in 1959 and is situated near University Health System, Inc., which comprises the University of Tennessee Medical Center. Following the facility’s census drop due to the pandemic, occupancy and payor mix steadily rebounded year over year generating continuously improving cash flow and operating margin. While Westmoreland maintained a good reputation among its referral sources, the facility was listed on the... Read More »
CFG’s H2 2024 Activity
With 2024 in the books, Capital Funding Group announced the company executed or arranged more than $1.3 billion in bridge and HUD loans across 68 deals throughout the year. These financings included 41 healthcare bridge loans and other lending products, 12 multifamily bridge loans and 15 HUD loans for CFG’s clients throughout the nation. Several CFG senior living transactions closed in H2 of 2024. First was the closing of a $207.1 million bridge-to-HUD term loan to support the partnership buyout of a portfolio of thirteen skilled nursing facilities featuring 1,423 beds in Florida. Next was an $185.0 million construction loan to support the first phase of construction of a 501-unit... Read More »
Publicly Traded REIT Acquires in Colorado
The Walker & Dunlop Seniors Housing team started the year off strong, with two closings in January. W&D first represented a major Georgia-based not-for-profit health system in the divestment of three skilled nursing facilities totaling 448 beds. Despite their rural locations, operational challenges and capital expenditure needs, W&D secured multiple competitive offers over an elongated closing process, securing an attractive price per bed. Nick Hall handled the transaction. The W&D team also closed the sale of a large institutional-owned seniors housing community in Colorado. The buyer was a publicly traded REIT, which retained the existing management team to sustain... Read More »
East Coast Owner/Operator Acquires First NJ Community
Evans Senior Investments facilitated the sale of The Heritage Assisted Living, an assisted living and memory care community in Hammonton, New Jersey. ESI was engaged by the independent owner and lender of the property and procured six competitive offers from institutional capital and regional owner/operators. The ultimate buyer was an East Coast owner/operator, with this community being the first it has acquired in the state. Read More »
California-Based Owner/Operator Acquires Note
An international bank engaged Blueprint to oversee the sale of its interest in a 180-bed skilled nursing facility in the Santa Rosa area of Northern California. The mortgage on the facility was in default despite the facility’s strong historical operating performance and occupancy. It demonstrated extremely high top-line revenue, strong-per-patient day revenues, and robust in-place cash flow. Jacob Gehl, Dillon Rudy and Kristen Ahrens handled this transaction. There was widespread interest from California-based and national owners/investors before an experienced California-based owner/operator was selected as the buyer of the note for $18 million, or $100,000 per bed. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
