Ensign concludes SNF agreements in 3 states; White Oak completes $275 million financing for 6 deals


The Ensign Group announced a series of acquisitions and long-term leases from SNF earlier this month, including a facility in Arizona, two in South Carolina and six in Texas.

Ensign acquired the operations of Oak Harbor Healthcare, a 132-bed skilled nursing facility located in Mount Pleasant, SC and Oak View Health and Rehabilitation, a 190-bed SNF located in Conway, SC

Ensign CEO Barry Port said the company is “excited to expand into the state.

“These facilities represented an excellent geographic and strategic fit in South Carolina. We look forward to adding our experience to the exceptional team of caregivers at these facilities to enhance the care provided to residents,” said Adam Willits, president of Ensign subsidiary Hopewell Healthcare LLC, in a statement.

Ensign’s Standard Bearer Captive REIT also acquired the real estate and operations of Fountain Hills Post Acute, a 64-bed SNF located in Fountain Hills, Arizona.

Additionally, the retirement home operator’s subsidiaries entered into new long-term leases on six new operations in Texas, including facilities in San Antonio and Austin.

The agreements bring Ensign’s growing portfolio to 268 healthcare operations in 13 states.

White Oak completes $275 million financing in 6 transactions

White Oak Healthcare Partners, a subsidiary of White Oak Healthcare Finance, ended September with over $275 million in funding across six deals.

White Oak executed a $110.6 trillion recapitalization for the owner of a skilled nursing portfolio of more than 700 beds in Georgia. The proceeds were used to refinance existing bank debt, fund closing costs and pay a dividend to the ownership group, according to the company. Derek Whelan and Joe Munhall are behind the transaction.

The company also executed a $75.65 million financing for the acquisition of five California NFCs by a private investment firm. The three-year variable rate loan comes with two one-year extension options and was sized to meet HUD guidelines. Ross Holland and Munhall are behind the transaction.

Additionally, White Oak secured $45.68 million in financing for the acquisition and recapitalization of four nursing homes in California and Texas for an owner-operator who had “significant experience” in both areas. . The proceeds were used to purchase several facilities as well as to refinance existing bank debt and fund closing costs, according to the company. Holland is behind the transaction.

Finally, White Oak secured a $13 million recapitalization for the owner of a 120-bed SNF in Las Vegas. The proceeds were used to refinance existing bank debt, fund closing costs and provide liquidity to the ownership group. Grant Goodman and Munhall initiated the transaction for WOHP.

Boston Aged Care Facility Facilities Sale Plan

Blueprint facilitated the sale of Advocate Healthcare of East Boston.

The five-story, 165-bed licensed skilled nursing facility was originally built in 1952 and expanded in 1965. The outgoing owner-operator underwent a ‘substantial renovation’ of the day care wing for adults in addition to general improvements to the facility, according to Blueprint.

The building also received Needs Determination (DON) approval for another renovation project to reconfigure and reposition the property, including all private and semi-private resident bedrooms.

Revenues and occupancy reached $15 million and 90% respectively at the time of the sale.

The new owner-operator is a New York-based real estate investment firm with healthcare investments across New England.

VIUM Capital closes several acquisition loans

VIUM Capital closed four loans for 12 properties totaling $124 million in September.

This brings total volume for the third fiscal quarter to 17 transactions for 47 separate properties totaling over $422 million.

One of the transactions involved a portfolio of seven southwestern Colorado facilities totaling 558 beds. VIUM provided a bridge loan of $47,731,000 for an acquisition, according to the company.

VIUM also closed a $61,757,000 bridge loan for an acquisition involving a portfolio of three Northeast Florida NFCs.

Additionally, the company provided a $5.44 million bridge loan to Elevation Group, LLC in connection with the acquisition of a retirement home in Florida.

Plains Commercial is selling a retirement home in Oklahoma

Plains Commercial has announced the sale of a “vintage” Oklahoma skilled nursing facility.

Hobart Living Center was run by an Oklahoma operator looking to downsize its portfolio. The buyer is a regional operator with a presence in the region and looking to expand, according to Plains.

Daniel Morris of Plains Commercial managed the transaction.


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