Luthercare Secures Bond Financing
Ziegler announced the closing of Luthercare’s $31.52 million Series 2025A and 2025B bonds (together the “Series 2025 bonds”). Luthercare is a Pennsylvania-based not-for-profit that currently operates two communities in Lancaster County, Pennsylvania: Luther Acres and St. John’s Herr Estate. They collectively feature 678 units. Luther Acres is on 55 acres in Lititz and comprises 357 independent living units, 70 personal care units and 86 skilled nursing beds. St. John’s Herr Estate is on 48 acres in Columbia and includes 125 independent living units and 40 personal care units. Residents of St. John’s Herr Estate have priority access to the skilled nursing beds at Luther Acres, which... Read More »
Ikaria Capital Group Launches
Ikaria Capital Group, led by Jason Dopoulos and Ken Gould who were formerly with White Oak Healthcare Partners and Lancaster Pollard, announced its launch. Headquartered in Cleveland, Ohio, Ikaria specializes in financing skilled nursing and seniors housing communities. Ikaria brings more than 100 years of collective experience in financing, structuring, underwriting, servicing and asset-managing bridge and FHA/HUD loans. Ikaria’s platform specializes in debt solutions, including bridges for acquisitions, recapitalizations, refinances and construction, permanent (long-term) debt structures, FHA/HUD loans and working capital lines for skilled nursing, hospitals and other healthcare... Read More »
Omega Healthcare Investors Continues Improvement
It has been a slog for owners of nursing homes, but Omega Healthcare Investors continues to improve from the COVID messes it encountered. Major tenant LaVie, which entered into bankruptcy protection last June, paid its full monthly rent of $3.0 million from June 2014 through January 2025. And Maplewood, which ran into some serious problems, paid $4.5 million in rent in January and $12.3 million in the fourth quarter of 2024. The REIT is also growing, having completed $340 million in new investments in the fourth quarter, and $939 million for the full year. The fourth quarter investments included $179 million in real estate acquisitions and $162 million in new loans. The new loans... Read More »National Healthcare Corporation Dominates Tennessee Skilled Nursing Market
National Healthcare Corporation (NHC) has established itself as the largest owner of skilled nursing facilities in Tennessee, according to the latest Centers for Medicare & Medicaid Services (CMS) data. The Murfreesboro-based healthcare provider is affiliated with 34 skilled nursing facilities in Tennessee alone, highlighting its significant market presence in its home state. Extensive Portfolio Across Multiple States NHC’s operational footprint extends well beyond Tennessee, with a total of 89 healthcare facilities across eight states as of the most recent CMS reporting period. The company’s portfolio includes: 64 skilled nursing facilities 20 home health agencies 3... Read More »Honor X Enterprises Dominates Texas Skilled Nursing Market with 117 Facilities
Honor X Enterprises, LLC has emerged as the dominant player in Texas’s skilled nursing facility sector, controlling 117 facilities across the state according to the latest CMS data. The company’s portfolio consists exclusively of skilled nursing facilities, with all 117 properties located in Texas. This geographic concentration allows for operational efficiencies and specialized knowledge of local regulations and reimbursement structures. Honor X Enterprises maintains complete ownership (100%) of 114 of its 117 facilities, with ownership details for the remaining three facilities not specified in the available data. This high rate of full ownership indicates a preference for... Read More »GPN Family Trust Emerges as Major SNF Owner in Midwest
“GPN Family Trust U/A/D 04/28/08” has established itself as a significant player in the skilled nursing facility (SNF) sector across three Midwest states, with a particularly strong presence in Illinois and South Dakota, according to the latest CMS data. Portfolio Overview The trust currently owns 62 skilled nursing facilities across three states. Illinois represents the largest concentration with 42 facilities, followed by South Dakota with 14 facilities, and Iowa with 6 facilities. GPN Family Trust is one of the top owners of skilled nursing facilities in South Dakota, where it ties with other major owners including Doros Generation Trust U/A/D 1/3/12 and Legacy Healthcare... Read More »Prestige Care Dominates Oregon’s Skilled Nursing Market with 18 Facilities
Prestige Care Inc. has established itself as the dominant player in Oregon’s skilled nursing facility sector, affiliated with 18 facilities across the state, according to the latest CMS data. Market Leadership Position According to the latest Centers for Medicare & Medicaid Services (CMS) data, Prestige Care Inc. is affiliated with the largest number of skilled nursing facilities in Oregon, significantly outpacing competitors in the region. The family-owned company has built a substantial footprint across the Western United States, with a total portfolio of 32 skilled nursing facilities spanning five states. Geographic Distribution The company’s focus on the Pacific... Read More »
National Owner/Operator Acquires in Texas
Matthew Alley and Ryan Saul of Senior Living Investment Brokerage were engaged by a local independent owner in Texas in the divestment of its only skilled nursing facility, as he looks to exit the industry. He was leasing the property to a regional operator. Built in 1961 and renovated in 1994, Bender Terrace is in Lubbock, with 120 beds. It sits on 2.65 acres and comprises 45,664 square feet. It was 43% occupied at the time of sale. Under the previous ownership, the facility was making $4.19 million in revenues and $270,000 of EBITDAR, not including additional QIPP revenue. The buyer, a national owner/operator that operates several Texas SNFs, paid $5.85 million, or $49,000 per bed. ... Read More »
MIG Closes Five Separate Transactions
Andrew Montgomery of Montgomery Intermediary Group has reported a strong start to the year, closing four separate transactions, so far, and announcing an additional deal from October of last year. That one involved a 130-bed skilled nursing facility in St. Louis, Missouri. Built in the early 1900s, the facility was cash flowing with occupancy trending around 60% to 65% at the time of sale. The seller was an owner/operator that had been in the business for decades. Medicaid rates in Missouri are still on the lower end, but it was performing well for some time. The buyer was an owner/operator with SNFs across Missouri. Next were three transactions in rural Missouri that closed in late... Read More »
Sunny Hills Management Purchases in California
A couple of California seniors housing communities changed hands as part of a larger divestment strategy for the national developer/investor seller. Before the pandemic, that entity had purchased more than a dozen geographically disparate, older-vintage communities. But operational headwinds prompted a portfolio re-prioritization and de-levering effort. The owner engaged Kevin Lukehart, Alex Florea and Scott Frazier of Blueprint to create an exit strategy for the assets. The latest two communities to sell consisted of a 1986-vintage, 157-unit assisted living community in Corona, California, and a 1998-vintage, 101-unit assisted living and memory care community in Roseville,... Read More »Schedule a demo
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