Birchwood Healthcare Partners is making a successful exit from their skilled nursing/assisted living facility in Huntington, West Virginia, more than doubling the facility’s value after just three years of ownership. When Birchwood originally purchased the 55-bed/unit facility from an individual owner in 2015 for $3.2 million, the facility was losing money. Originally built in 1928, […]
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 […]
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 […]