Champion Care Adds Four Facilities to its Portfolio; Cambridge Provides $5.3M Loan for Iowa Senior Care Center

Champion Care has added four new facilities to its growing portfolio.

Two of the facilities are located in Wisconsin and will be renamed The Bay at Muskego Health and Rehabilitation Center and The Bay at Beloit Health and Rehabilitation Center. The other two are located in Tennessee and will be renamed The Bay at Highlands Health and Rehabilitation Center and The Bay at Dyersburg Health and Rehabilitation Center.

“Champion Care remains committed to ensuring that the transition for each of these facilities moves as smoothly as possible with minimal (if any) impact on our patients, residents, and their families,” Mark Ruvel and Izzy Weinberg, Champion Care managing partners, said in the news release.

Started in 2017, Champion Care owns and operates 16 skilled nursing facilities, one home health center and one assisted living community throughout Wisconsin, Tennessee and New Jersey.

Cambridge Provides $5.3M Loan for Iowa Senior Care Center

Cambridge Realty Capital Companies announced it provided a $5,309,500 HUD Lean loan to refinance The New Homestead Senior Living Community, an 89-bed skilled care, assisted living and independent living facility located in Guthrie Center, Iowa.

The fully-amortized, 35-year loan was provided for using the HUD Section 232 pursuant to the Section 223(f) funding program.

The community offers nursing, therapy, and life-enrichment services for both long-term care and rehab-to-home, according to the news release.

VIUM Gets $15M Bridge Loan for Texas Facility

VIUM Capital announced it landed a $15,044,000 loan for a 124-bed skilled nursing facility in Texas.

The bridge-to-HUD loan will be used to fund the predetermined purchase option and acquisition of the SNF at $14.88 million, along with transaction costs.

Carnegie Capital Closes on 120-Bed SNF Outside of Boston

Carnegie Capital announced it closed on a $4 million bank loan for a 120-bed skilled nursing facility that is located 40 miles outside of downtown Boston.

The loan represented 82% of the purchase price and is fixed at a 4.25% interest rate for five years. It also includes a $1.5 million working capital line of credit.

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