SLIB Facilitates Sale of Indiana Nursing Home; CFG Secures $17.2M Bridge-to-HUD Loan for 2 SNFs

Vincennes, Ind.-based skilled nursing facility GentleCare of Vincennes was sold to The Strategies, an Indiana based owner/operator with other communities in the state, Senior Living Investment Brokerage announced.

The 60 licensed bed, with 52 currently functional, facility reportedly has one of the longest running five-star designations in the state, according to SLIB.

The seller, a private mom and pop organization, was looking to retire and SLIB procured multiple offers for the facility before The Strategies was selected, according to a news release.

“This transaction presented an opportunity for the private owner to sell and retire,” SLIB Managing Director Ryan Saul said in the news release. “After years of contemplating a potential sale, the time and circumstances were right when The Strategies came along.”

Capital Funding Group Gets $17.2M in Bridge-to-HUD Financing

Capital Funding Group announced it closed $17.2 million in financing for the acquisition of two skilled nursing facilities in Arizona totaling 232 beds.

A “nationally recognized borrower” used the bridge-to-HUD financing to purchase the real estate that it had previously operated — allowing them to continue growing their portfolio of facilities they own and operate.

In the first financial quarter of 2022 CFG financed more than $840 million across 10 bridge loans and 11 HUD loans for CFG’s long-term care and assisted living industry clients.

CFG Group Vice President Tommy Dillon originated the transaction.

Ziegler Closes $193M for Virginia Nonprofit

Ziegler announced it closed more than $193 million in Series 2022A, 2022B and 2022C bonds for Westminster Canterbury Richmond.

Westminster is a nonprofit that owns and operates a life plan community in Richmond, Va. known as Westminster Canterbury Richmond.

One of the first life plan communities to open in Virginia, Westminster Canterbury has become one of the largest single-site campuses in the country with 809 total units including 487 independent living units, 164 assisted living units, 158 nursing units, according to Ziegler.

The bonds will be used in part to expand the campus’s independent living offerings and fund a new fitness and wellness center.

Helios Arranges $14.2M Bridge Loan for Texas SNF

Helios Healthcare Advisors announced that HACO Health Solutions landed a $14.2 million acquisition loan for a 120-bed skilled nursing facility located in Rockwall, Texas.

At the time the facility was leased from a third-party landlord and maintained an excellent clinical reputation as well as a robust rehabilitation program.

Helios suggested a bridge-HUD structure and arranged a non-recourse product from a national specialty lender.

“It was [Helios’s] guidance that allowed us to purchase the real estate and realize all the equity that our hard work has created as operators,” HACO Health Solutions Owner Gracen Hawley said in a news release.

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