Ensign acquires South Carolina SNF;  Scheme facilitates the sale of 2 nursing homes in Atlanta

Ensign acquires South Carolina SNF; Scheme facilitates the sale of 2 nursing homes in Atlanta

The Ensign Group (Nasdaq: ENSG) continues to increase its presence in South Carolina with the acquisition of Lila Doyle Publish Acute, a 120-bed expert nursing facility.

Seneca nursing dwelling, SC, is situated on the campus of Memorial Hospital and was acquired November 1 by a subsidiary of Commonplace Bearer Healthcare REIT, the captive actual property firm of Ensign, below a 30-year land lease with extension choices.

“This acquisition has created a perfect alternative for our continued development in South Carolina,” Ensign CEO Barry Port stated in a press launch. “We’re thrilled to strengthen our relationship with Prisma Well being, the place we will add our experience and associate to offer the very best look after the residents and their households at this facility.”

The deal brings Ensign’s rising portfolio to 269 healthcare operations, 26 of which additionally embody Senior Dwelling Operations, throughout 13 states. Ensign’s subsidiaries, together with Commonplace Bearer, personal 108 actual property property.

“We’re honored that our companions at Prisma Well being have entrusted us with the boldness to offer world-class post-acute care to this neighborhood and we sit up for coordinating with them and the native healthcare neighborhood to counterpoint the lives of our caregivers and the residents we serve,” stated Adam Willetts, President, Hopewell Healthcare LLC. Ltd., the South Carolina-based subsidiary of Ensign, stated in a press launch.

Berkadia Seniors Housing & Healthcare Toners 7 Offers for $177 Million

Berkadia Seniors Housing & Healthcare introduced $177 million in funding throughout seven offers, three of which concerned expert nursing services, that have been accomplished from July 15 by way of the tip of October.

In August, Berkadia supplied a $10.5 million mortgage to refinance expert nursing and help a dwelling neighborhood in western North Carolina by way of HUD’s 232/223a7 program. The refinancing resulted in financial savings of over $270,000 per yr.

In September, Berkadia supplied a $10.95 million mortgage to refinance excellent financial institution and related-party debt in a 200-bed New York nursing dwelling. Whereas SNF occupancy recovered to its lowest degree to the mid-Nineties in mid-2021, employment remained a battle.

The interest-only time period of 24 months permits the proprietor/operator to lock in efficiency previous to refinancing with HUD.

In October, Berkadia secured $12.98 million in a 232/223f HUD mortgage to the proprietor and operator of a nursing dwelling in Utah. The 38-bed 100% medical care facility serves residents in want of short-term rehabilitation.

“These closures display the unimaginable breadth and experience of the Bercadia senior housing and well being care staff,” stated Steve Irvin, senior vice chairman and president of FHA housing and housing finance for seniors in a press launch. “We’re in a position to present personalized options to landlords by offering a wide range of financing choices throughout a broad spectrum of the senior housing and healthcare trade.”

Managing Administrators Bianca Andogo, Ed Williams, Jay Healy, Raphael Nobu and Chris Kane accomplished the financing.

Scheme facilitates the sale of two expert nursing services in Atlanta

Blueprint has introduced the sale of two Atlanta-area expert nursing services totaling 333 licensed beds.

Promoting on behalf of a public actual property funding belief (REIT) and its working associate, this transaction is an element of a bigger portfolio with staggered closings.

The nursing houses, situated in Buckhead and Marietta, are shut to 2 regional hospitals and different referral sources. Each services have seen steady enchancment in census and income coming in from Covid.

Finally, Blueprint chosen an East Coast acquisition and operator firm that’s actively in search of to increase its presence in Atlanta.

Lument Securities advises promoting nonprofit nursing houses within the Philadelphia space

Lument Securities has suggested the sale of a nonprofit nursing dwelling in Philadelphia to a regional non-public operator.

Saunders Home is a 180-bed SNF in Wynnewood, Pennsylvania, that gives short-term rehabilitation, conventional nursing care, reminiscence care, correctional care and respite care.

Advising the nursing dwelling’s board of administrators, Lument secured letters of intent from 10 completely different locations. The deal formally closed on October 3 and phrases weren’t disclosed.

Saunders Home opened as an previous man’s dwelling in Philadelphia in 1864. The present facility opened in 1973 and underwent a $3.5 million renovation in 2016.

Not like many suppliers, the impartial operator has confronted vital recruitment and operation challenges throughout Covid.

The Board of Administrators determined to make use of the proceeds from the sale to fund a basis that helps housing for seniors and well being care suppliers whose residents could lack monetary help.

“With the numerous transaction proceeds generated by the sale, we’re in a greater place to advance our mission of serving seniors within the larger Philadelphia space for many years to come back,” stated former CEO Kevin Ross.

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