» Gulf Coast Healthcare, LLC will acquire 25 skilled nursing facilities in Alabama, Mississippi and Florida, using a $168.8 million five-year term loan. After this acquisition, Gulf Coast will operate a total of 69 SNFs, all in those three states. Capital One Bank led the financing by providing a $63.8 million secured loan.
» Platinum Healthcare sold six skilled nursing facilities in the area around Peoria, IL, in a $48.5 million deal financed by a private bank and handled by Senior Living Investment Brokerage Inc. The SNF portfolio represents 224,000 square feet and 822 beds.
» Methodist Retirement Communities secured $7.6 million in pre-finance capital, to be used for development of expansion plans for The Crossings, a continuing care retirement community near Houston. Two dozen memory support suites and 28 skilled nursing units are planned. The financing came in the form of bond anticipation notes, which MRC plans to repay by the third quarter of 2014.
» LTC Properties announced it will build a 143-bed SNF on 11.2 acres in northern Kentucky for $2.1 million.
From the March 01, 2013 Issue of McKnight's Long-Term Care News
