Institutional Property Advisors Sells Iowa SNF Portfolio
In a strategic move to build its presence in the Midwest, Beacon Health Management acquired 10 skilled nursing facilities in Iowa last month. Ryan Fleming of Institutional Property Advisors represented the seller in this $24.2 million, or $42,600 per bed, transaction. Todd Lindblom was the broker of record. The targeted properties within the Pearl Valley Rehab & Healthcare portfolio include 568 beds and currently generate total revenue of $35 million and EBITDA of $3.5 million. That results in a 14.5% cap rate on the deal. Occupancy across the portfolio fluctuated around 75 to 80% during the sale process. Some COVID cases towards the end of the transaction resulted in a delay in... Read More »
Meridian Capital Group Finishes May with a Flourish
Meridian Capital Group is having quite the year, already with $2.7 billion in transaction volume closed to date in 2021. Most recently, the firm closed more than $390 million in deals for a combination of 42 skilled nursing, independent living, assisted living and memory care properties in nine states. Meridian’s Ari Adlerstein, Ari Dobkin, Josh Simpson, Matt Lesnik, Jesse Rauch, David Gottlieb, Jacob Scott and Rafi Sod negotiated the transactions. Maybe a well-deserved summer vacation is on the horizon now? Beaches are open. On the M&A side, the team closed a number of sales, the largest being the $74 million sale of six skilled nursing facilities comprising 925 beds in... Read More »
Meridian Capital Group Goes All Out in April
April showers certainly brought a dizzying number of financings closed by the team at Meridian Capital Group, arranged for a combination of 26 assisted living and skilled nursing facilities in seven states. Ari Adlerstein, Ari Dobkin, Josh Simpson, Matt Lesnik, Jesse Rauch, David Gottlieb and Jacob Scott negotiated the transactions, which totaled $352 million. Maybe now they’ll have time to smell the May flowers. The highlight of the two weeks was a $136 million bridge-to-HUD refinance for five facilities totaling 830 skilled nursing and 24 assisted living beds in Maryland. There were also several acquisition financings, the largest being a $62.4 million loan from a commercial bank along... Read More »
Capital Funding Group Closes Q1 In Style
Capital Funding Group’s new off-balance sheet credit venture, CFG Credit Partners, has done it again, arranging another nine-figure bridge loan to support the acquisition of a skilled nursing portfolio. This transaction totaled $285 million. Using the funding, a nationally recognized borrower (which has worked with CFG before) was able to acquire 16 skilled nursing facilities in the Mid-Atlantic region. Erik Howard and Tim Eberhardt originated the transaction for Capital Funding Group, and Capital Funding, LLC, a subsidiary of CFG Bank, participated in the transaction. This deal appears very similar to CFG Credit Partners’ $317.5 million bridge-to-HUD financing for Eagle Arc Partners’... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
