The skilled nursing market has been going through many changes in recent years as it adapts to new reimbursement policies, shorter lengths of stay and more medically-complex patients. But did all of that affect what buyers will pay for size in 2018? Well, according to the 2019 Skilled Nursing Acquisition & Investment Report (available soon), […]
Dwight Capital had a busy February for bridge loans, closing four separate loans for more than $13.7 million. The bridge loans included $3.96 million for a 12-bed skilled nursing facility in Kansas and a $3.7 million loan for a three-facility, 193-bed portfolio that was sold by a not-for-profit to a repeat client of Dwight Capital. […]
Leonard Lucas of Love Funding closed a $10.5 million bridge-to-HUD construction loan for a transitional rehab facility in Yuma, Arizona. The new facility will have 32,000 square feet and 41 private rooms. It will be 100% Medicare and managed care with no Medicaid patients. The bridge loan was placed with Love Funding’s parent company, Midland […]
The team of Ari Adlerstein, Ari Dobkin and Josh Simpson of Meridian Capital Group closed a large financing for the acquisition of a portfolio of 12 skilled nursing facilities located throughout Virginia. Totaling 1,346 beds, the portfolio is now owned by a private skilled nursing investor. A finance company provided the $90 million loan.
After plunging to a low of $3.82 per share after fourth quarter earnings were released, shares of Capital Senior Living are showing some bounce. We are sure the market has noticed that the C-Suite has been buying. The price is now up 26% in less than a week. Timing is everything, and the CEO added […]
Patrick Burke of Senior Living Investment Brokerage sold a pair of southern skilled nursing facilities to a Northeast-based real estate investment firm. Totaling 243 beds, the facilities were built between 1986 and 1990 and combined for 75% occupancy. The seller, an independent owner/operator, decided to exit the long-term care industry, after the problems started mounting […]
Despite the backlog caused by the government shutdown earlier this year, Harborview Capital Partners’ HUD pipeline has been particularly active lately, totaling over $46 million in two March transactions. The larger transaction featured a $23.9 million loan closed on behalf of a brand-new 180-bed skilled nursing facility in Middlesex County, New Jersey. The team then […]
Several years after acquiring a 160-bed skilled nursing facility, an experienced owner/operator is refinancing with the help of Housing & Healthcare Finance. Working through HUD, HHC Finance closed a $28 million loan for the greater New York area facility, replacing higher-rate and shorter-term debt in the process. Since the acquisition, the owner has significantly improved […]
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The assisted living sector fell back to earth in 2018 and dragged the rest of the seniors housing sector with it, according to the soon-to-be-published Seniors Housing Acquisition & Investment Report. Following three successive years of steady increases and a record-high price per unit in 2017 of $221,250, assisted living properties sold on average for […]