• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »

  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    by | Apr 25, 2024 3:30 pm | Financings

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »

  • CBRE Secures Financing For Class-A Seniors Housing Community

    by | Apr 25, 2024 3:29 pm | Financings

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »

  • PCP Purchases Ohio Assisted Living Community

    by | Apr 25, 2024 3:27 pm | Acquisitions

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »

  • Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »
Tutera Adds to Kansas Portfolio

Tutera Adds to Kansas Portfolio

by | Aug 19, 2021 4:00 pm | Acquisitions

After operating it for a couple of years, Tutera Senior Living took over ownership of a skilled nursing facility in receivership in Derby, Kansas. Nick Cacciabando of Senior Living Investment Brokerage handled the sale on behalf of the receiver.   This small facility, which features 45 beds, was built in 1976. A few years ago, Virginia-based alternative asset manager Mooring Financial purchased the distressed HUD debt on the property. This was their only senior care asset and decided to exit the facility. Operations had declined during the pandemic, and the facility was losing money at the time of the sale with an occupancy of around 80%.   During that time, the facility had an initial... Read More »
Tutera Purchases Only Health Dept-Owned AL Community in Illinois

Tutera Purchases Only Health Dept-Owned AL Community in Illinois

by | Jul 14, 2021 4:54 pm | Acquisitions

In 2017, a small town in Illinois took a rare step to build the only county-funded assisted living community in the state. Now, The Lodge at Manito in Manito, Illinois is being sold to Tutera Senior Living & Health Care — a private diversified health care and senior living company providing development and management services to the seniors housing and care industry. No purchase price was disclosed. The Mason County Health Department built this eight-acre community for an approximate cost of $5.5 million, or $115,000 per unit. It contains 24 AL and 24 memory care units across 39,000 square feet. There is also an on-site medical clinic managed by Mason District Hospital that is... Read More »
SLIB Sells Atrium Health Portfolio

SLIB Sells Atrium Health Portfolio

by | Dec 6, 2019 6:00 am | Acquisitions

Ryan Saul and Jason Punzel of Senior Living Investment Brokerage sold a portfolio of four skilled nursing facilities and three assisted living communities in Wisconsin that were placed into receivership in September 2018 when their for-profit owner/operator, Atrium Health and Senior Living, was unable to fulfill its financial obligations. SLIB was hired by a Wisconsin-based receiver to solicit offers, and the court approved the sale to a regional based owner/operator headquartered in Illinois with other communities in Wisconsin and the Midwest. The new owner plans to focus on building census by incentivizing local leadership and investing capital into the communities to attract quality... Read More »