• Summit LTC Management Acquires East Texas SNF

    The Blueprint Healthcare Real Estate Advisors team worked together to sell a 112-bed skilled nursing facility located near the University of Texas Health, East Texas campus in Athens, Texas. Built in 1987, the facility has mostly semi-private rooms. It historically operated well while enrolled in QIPP, but a new local competitor put downward... Read More »
  • Monticello Funds Wisconsin Acquisition and Refinance

    MONTICELLOAM, LLC (Monticello) and its affiliates recently structured first lien debt for a portfolio of three senior care facilities in Wisconsin. The purpose of the debt was two-fold, with a portion going towards the acquisition of an assisted living/skilled nursing property and the remaining amount refinancing two skilled nursing facilities.... Read More »
  • Cambridge Realty Capital Lowers Rate On 16 Facilities

    Cambridge Realty Capital announced a slew of HUD loan modifications in the first half of 2020. The lender worked on behalf of borrowers with a combined 16 healthcare facilities that all had HUD mortgages. They are located in Illinois, California, Ohio, Texas, New Jersey and Iowa. In total, Cambridge funded over $200 million in loan modifications,... Read More »
  • Brookdale, Genesis Report Tough Quarters

    Brookdale Senior Living and Genesis HealthCare, the two largest providers, were not spared from COVID’s devastation in the second quarter. The two largest providers in their respective sectors, Brookdale Senior Living in seniors housing and Genesis HealthCare in skilled nursing, did not escape COVID’s wrath. No one expected they would.... Read More »
  • Senior Living Investment Brokerage Sells Michigan Senior Care Campus

    Ryan Saul, Joe Young and Brad Clousing of Senior Living Investment Brokerage successfully sold a senior care campus in Jackson, Michigan. Originally built in 2010, the property comprises 90 total units, split between 50 private skilled nursing beds and 40 assisted living units. Historically, it operated well with occupancy consistently around... Read More »
Dwight Capital’s Active Fourth Quarter

Dwight Capital’s Active Fourth Quarter

Dwight Capital reported a very active fourth quarter, with more than $116 million of HUD and bridge loans closed for senior living and skilled nursing clients. One of the largest transactions saw Adam Sasouness and Adam Offman finance a $16.5 million bridge loan for a 375-bed skilled nursing facility in Oklahoma City, Oklahoma that features both short- and long-term rehabilitation, a secure memory care unit and a recently renovated dialysis unit. Mr. Offman also originated a pair of bridge loans in Rhode Island, including $16.4 million for a 167-bed assisted living/memory care/skilled nursing facility in Greenville and an $8.16 million loan for a 100-bed SNF in Pascoag. Another highlight... Read More »
Dwight Capital Refinances Large New Jersey SNF

Dwight Capital Refinances Large New Jersey SNF

A skilled nursing facility in Cherry Hill, New Jersey (Philadelphia MSA) with a wide variety of service offerings, just refinanced through HUD with the help of Dwight Capital. Built in phases from 1986 to 2002, it now totals 246 beds with five distinct units, including a 40-unit behavioral management unit, a 20-bed ventilator care unit, a substance abuse facility and a dialysis unit, in addition to providing short- and long-term rehabilitation and nursing care. Its clinical specialties also comprise physical, occupational, speech and IV therapies, wound care, pain management, tracheostomy care, dementia care, cardiac care, a pulmonary specialty and hospice care. In addition, there are... Read More »
Mid-Atlantic Health Care Makes An Exit

Mid-Atlantic Health Care Makes An Exit

Mid-Atlantic Health Care is exiting the skilled nursing market with the sale of its eight remaining facilities in Pennsylvania. The company was still growing its portfolio (which at one point numbered over 20 facilities) as recently as December 2015, so this move, and its sale of 14 skilled nursing facilities late last year, marks a precipitous divestment. Back to the June 2017 deal, while the real estate will continue to be owned and leased by Colony NorthStar (the REIT product of the merger between Colony Capital and NorthStar Asset Management Group), Mid-Atlantic sold the operations to Lakewood, New Jersey-based Mima Healthcare. Five of the facilities are located in Philadelphia (three... Read More »