It’s becoming harder than ever to operate standalone skilled nursing facilities amid inadequate government funding, and innovative business models that deal with challenges, especially those related to staffing, have and will be borne from necessity. “Innovative models are going to present themselves in some way to stop this train,” said Dan Hermann, president and CEO […]
Operating a skilled nursing facility today is considered a difficult business with regulations and reimbursement woes making the space “tougher every day.” As a result, some operators say they regularly budget a loss for skilled nursing services, and if it weren’t for other lines of business, skilled nursing would be unsustainable. This dire view of […]
As patient preference continues to shift away from nursing homes, public attention is increasingly on alternate modes of skilled nursing care as well, including continuing care retirement communities (CCRCs). Newsweek, for one, came out with a ranking of such communities in partnership with global market and consumer data firm Statista. The companies expect rankings to […]
The Ensign Group (Nasdaq: ENSG) announced Wednesday that it has acquired Rehabilitation and Nursing Center of the Rockies to further strengthen its position in the skilled nursing and senior living sector in Colorado. The facility, a 96-bed skilled nursing facility based in Fort Collins, Colo., was acquired along with its operations and real estate by […]
Bloomfield Capital, direct lender and equity investor in commercial real estate assets, announced the closing of a $12.0 million senior bridge loan, which was used to refinance a maturing loan on a skilled nursing facility located in Southern California. The loan’s sponsor purchased and restructured multiple senior living assets throughout the Western U.S. and is […]
Three skilled nursing properties in Pennsylvania comprising 395 beds and 32 senior housing units were purchased for $39M, or $91,000 per unit. The seller, represented by Evans Senior Investments (ESI), exited the long term care industry. “The ESI Team was successfully able to showcase how a new regional owner/operator could eliminate the agency staffing issues […]
Bank of America strategists point to nursing homes, among other riskier sectors, being behind more defaults in the $4 trillion municipal bond market this year. Expectations come after a 122% surge in first-time payment defaults for January 2023 compared to a year ago, according to a report published by Bloomberg on Tuesday. That translates to […]
The Evangelical Lutheran Good Samaritan Society, one of the largest skilled nursing providers in the United States, plans to consolidate its operations from 22 states to seven. Once the process is complete, the Sioux Falls, South Dakota-based Good Samaritan Society will have operations in South Dakota, North Dakota, Iowa, Minnesota, Nebraska, Kansas and Colorado. About […]
Senwell advises on sale of 6 facilities to Saber Healthcare Senwell Senior Investment Advisors advised sellers on the sale of six facilities in North Carolina, made up of 691 licensed beds divided between five skilled nursing facilities and one assisted living facility, located across North Carolina. The sellers wanted to transition the property to a […]
While many owners in the skilled nursing space saw a reduction in beds this year, the biggest losers were overwhelmingly government entities and not-for-profit organizations, while for-profit entities have lost far fewer beds. In terms of bed reduction by location, rural markets largely took the hit, according to Lisa McCracken, director of senior living research […]
TSOLife completed a $9 million Series A funding round for its AI-based business intelligence platform that translates and transcribes resident interviews and converts the information into consumable data. Data dashboards can be utilized by skilled nursing staff to look for actionable trends and insights. “TSO is the tip of the spear in gathering social insights […]
Walker & Dunlop closed $1.3 billion in long-term care and seniors housing deals during the first half of this year, the company announced this week. The sales mark a “milestone” for the Walker & Dunlop team, marking the highest recorded sales for a comparable timeframe, and signifies the momentum in the market nationwide, according to […]
CareTrust REIT Inc. (NYSE: CTRE) funded a $24.9 million B-piece secured financing on a four-facility portfolio in the Southeast. The portfolio includes about 700 skilled nursing beds, according to CareTrust. “This loan begins a new relationship with this new Southeast operator,” CEO Dave Sedgwick said in a statement. “The operator has done a tremendous job […]
Greystone, a national commercial real estate finance company, provided $47 million in HUD-insured loans for five different skilled nursing transactions. The facilities were located in California, Connecticut, North Carolina and Ohio, and involved five different borrowers, according to a news release. Greystone provided an $8,264,000 loan for a 35-bed facility in San Diego; a $10,584,000 […]
The Ensign Group this week acquired the real estate and operations of a Texas skilled nursing facility. Park Manor of McKinney is a 138-bed nursing home located in McKinney, Texas. Standard Bearer Healthcare REIT, Ensign’s captive real estate company, acquired the real estate effective Aug. 1, according to a news release. The deal brings Ensign’s […]
Specialty investment bank Ziegler closed on Series 2022A Bonds for Ohio-based not-for-profit senior care provider Eliza Jennings. Eliza Jennings owns and operates three senior living campuses with a combined total of 216 skilled nursing beds, 175 independent living apartments and villas and 89 assisted living units. The Renaissance, located on 88 acres in Olmsted Falls, […]
While the skilled nursing sector has seen a seller’s market the past couple years, brokers believe the pendulum is swinging the other way, toward more of an equilibrium and normalization of prices. Increased expenses tied to inflation, the ongoing staffing crisis and lackluster occupancy are all contributing to a less favorable market for sellers, while […]
New builds are becoming increasingly rare in the skilled nursing space, and with material costs rising and inflation only going up it’s easy to see why. Prices for mid-level skilled nursing projects rose to between $260 and $306 per square foot during the spring of 2022 – up from between $252 and $295 per square […]
The clock is ticking on the long-term care sector. Whether an operator is part of a larger organization, a continuing care retirement community (CRCC), or a standalone facility, industry headwinds are pushing leaders across the country to think more closely about what moving to private rooms would look like for their organization. For many that […]
Healthcare Transactions Group completed the sale of Bon Secours Mercy Health’s post-acute portfolios in Ohio and Florida. This marks the final phase of a divestiture process that began in November 2019. The Ohio portfolio included four skilled nursing facilities, four assisted living facilities and one independent living facility. The Florida portfolio was made up of […]
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