40-Year Old SNFs: Obsolete or an Opportunity?

The aging of the skilled nursing industry is becoming a growing concern for investors in that space. Facilities built 40 years ago and over comprise a significant portion of the skilled nursing beds in the country, and many believe they are outdated and would require too much capex to modernize and attract the Medicare and […]

A team effort

We wrote in the August issue of The SeniorCare Investor of Birchwood Health Care Properties’ acquisition of four skilled nursing facilities and a hospice care and home health company in Oklahoma, and that HJ Sims had financed a $5.25 million subordinate loan to fund the deal. Now, RED Capital Partners has just announced that it […]

Legacy in Montgomery

Already the second deal closed in the Montgomery, Alabama area in recent weeks (following Birchwood Health Care Properties’ purchase of a 64-unit memory care community for $4.75 million), Legacy Senior Living spent $3.3 million, or $113,793 per unit, to acquire a 29-unit memory care community in Prattville. Built in 1999 with an addition in 2005, […]

Trio of transactions

The Healthcare Lending group of Congressional Bank recently announced that it closed three separate transactions (with five loans) totaling $11.6 million, which all helped facilitate acquisitions for the borrowers. First, Congressional provided a $3 million bridge-to-HUD loan and a $1.5 million revolving line of credit, both with three year terms, to fund the purchase and […]

Pay the rent

After recently acquiring three skilled nursing facilities in Kansas (two of which were turnarounds), Birchwood Health Care Properties acquired another skilled nursing facility in need of some care, this time in Huntington, West Virginia. The facility, which includes 41 skilled beds and 17 assisted living units, was originally built in 1928 but was renovated in […]

Birchwood Health Care Properties expands in Kansas

Nick Cacciabando of Senior Living Investment Brokerage had a busy end to October, representing the seller in three Kansas SNF sales to Birchwood Health Care Properties, which included a couple of turnaround opportunities. First, together with Ryan Saul, Mr. Cacciabando represented a private owner/operator in the sale of their 96-bed skilled nursing facility in Wichita, […]