Beaver Valley Hospital “Owns” 37 Skilled Nursing Facilities in Utah
Beaver Valley Hospital, a city-owned critical access hospital, has established itself as the largest operator of skilled nursing facilities in Utah, according to the latest Centers for Medicare & Medicaid Services (CMS) data. Market Position Analysis of the most recent CMS data reveals that Beaver Valley Hospital operates 37 skilled nursing facilities across Utah, making it the state’s largest skilled nursing facility owner. In the state of Utah, it is common for hospitals to contract with skilled nursing facilities to be their licensed operator (on paper) despite not owning the real estate associated with the facility. Beaver Valley Hospital has one of those arrangements.... Read More »Hurlbut Health: New York’s Largest Skilled Nursing Operator
Hurlbut Health Consulting, LLC has established itself as the largest operator of skilled nursing facilities in New York State, according to the latest Centers for Medicare & Medicaid Services (CMS) data. The company maintains 100% ownership in five of its nine facilities. Portfolio Overview The company’s portfolio consists of nine facilities across New York State: Avon Nursing Home, LLC Hamilton Manor Nursing Home LLC Latta Road Nursing Home East, LLC Latta Road Nursing Home West LLC Newark Manor Nursing Home Seneca Nursing And Rehabilitation The Brightonian, Inc. The Hurlbut, LLC The Shore Winds, LLC Leadership and Legacy The company continues the Hurlbut family’s... Read More »
60-ish Seconds with Steve Monroe: Becoming a Statistic
I became an industry statistic last week, although not intentionally. While returning from the annual ASHA meeting in Phoenix last Wednesday, I developed a slight cough just before takeoff, which turned into a full-blown cough by landing. The next day I went to my PCP to get some drugs, and tested negative for flu, COVID and RSV. By late Friday afternoon, I was miserable. My daughter happened to be home, and seeing me struggle up the stairs, then fall at the top, unable to get up or even roll over, and then drag me into my bedroom, she made a call to a health care provider. The provider videochatted with me for less than a minute and then told my daughter to call 911 immediately. The... Read More »
Ensign Grows in Texas
The Ensign Group, through subsidiaries of Standard Bearer Healthcare REIT, acquired the real estate of five skilled nursing facilities in Texas, plus the operations of one of the facilities in Lubbock. That facility was Mesquite Post Acute Care, a 120-bed skilled nursing facility that was acquired effective February 1. In a separate transaction effective January 31, Ensign announced that through Standard Bearer, it acquired the real estate of four other SNFs in Texas: Beacon Harbor Healthcare & Rehabilitation (190 beds in Rockwall), Pleasant Manor Healthcare & Rehabilitation (126 beds in Waxahachie), Crestwood Health & Rehabilitation Center (112 SNF beds and 36... Read More »
Real Estate Investment Firm Purchases in NY
Jason Punzel, Dave Balow and Brad Goodsell of Senior Living Investment Brokerage facilitated the sale of a seniors housing community in Rochester, New York. Built in 2016, the all-private pay assisted living and memory care community features 78 units on 6.22 acres. Performance improved over the course of the transaction, which helped with securing financing. The seller is a public, non-listed REIT focused on seniors housing properties throughout the U.S. There were multiple offers, with SLIB recommending the ultimate buyer, a private real estate investment firm, due to their ability to navigate the complex New York CHOW process and transact on a desirable timeline (a sometimes-tough ask... Read More »
Regional Owner Acquires in Michigan
Daniel Geraghty, Bradley Clousing and Ryan Saul of Senior Living Investment Brokerage facilitated the sale of a seniors housing community in Saline, Michigan. The seller was a large, Michigan-based owner/operator. Built in 2012 and 2016, Linden Square Assisted Living Center comprises 109 assisted living and memory care units on 6.89 acres. Occupancy was around 72% and it was operating close to breakeven at the time of sale. The buyer is a regional owner looking to expand its portfolio across the state. The purchase price was not disclosed. Read More »
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 »
Class-A Community Secures Financing
Walker & Dunlop arranged $25.9 million in permanent financing for Rivertown Ridge, a seniors housing community in the Grand Rapids, Michigan MSA. Built in 2019, Rivertown comprises 152 independent living, assisted living and memory care units. It is a Class-A community that sits on a larger, 120-acre master-planned community. Mary Stuart Hurst and Russell Dey of W&D partnered with Inner Circle Holdings to structure the 10-year, fixed-rate Fannie Mae loan with three years of interest-only payments to Redstone Group Management Inc. Read More »Pennant Healthcare Dominates Washington’s Skilled Nursing Market with 15 Facilities
The Pennant Group, Inc. (NASDAQ: PNTG) subsidiary Pennant Healthcare, LLC has established itself as a leading player in Washington’s skilled nursing sector, according to the latest CMS data analysis. Market Leadership Pennant Healthcare, LLC has emerged as one of the largest skilled nursing facility operators in Washington State, with 15 facilities under its management, according to ownership data from CMS. This positions the company as a top player in the region, sharing the top spot with Life Care Centers of America, Inc., which also operates 15 facilities in the state. Portfolio Overview Beyond Washington, Pennant Healthcare maintains a significant presence in Idaho with 11... Read More »Schedule a demo
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