»Greystone refinances Long Island skilled nursing facility for $71.3 million

Greystone, a leading national commercial real estate lending, investment and advisory company, has provided a $71.3 million Department of Housing and Urban Development-insured loan to refinance Massapequa Center Rehabilitation & Nursing, a 320-bed skilled nursing facility in Long Island, NY. 

The $71,280,000 permanent Federal Housing Administration financing deal carries a 30-year term and 30-year amortization along with a low, fixed rate. The refinancing enables the borrower to exit initial bridge financing used for the purchase in November 2017, and to continue with large-scale renovations at the facility.

»Berkadia secures over $57 million in SNF financings

Berkadia’s Seniors Housing & Healthcare group announced at press time $57.2 million of loan closings in December for skilled nursing facilities located in Alabama, Illinois, New Jersey, Maryland and Washington.

The company refinanced a portfolio of three skilled nursing facilities in Washington state for $26.2 million, and secured a loan for a 146-bed SNF in western Maryland, utilizing HUD’s 232/223(f) program. 

The third transaction was a $15 million 12-month bridge loan for a portfolio of three skilled nursing facilities in Alabama, Illinois and New Jersey, using its Bridge Lending Program.

»Lancaster Pollard helps SNF obtain permanent financing

Lancaster Pollard, a division of ORIX Real Estate Capital, LLC, reports that it recently assisted Totally Kids Specialty Healthcare to obtain permanent financing for its 56-bed skilled nursing facility in Loma Linda, Calif.

The campus in Loma Linda includes a skilled nursing facility, 25-bed pediatric acute care hospital, intermediate care facility and pediatric day care facility. The organization was seeking long-term financing for the skilled nursing facility component of the campus after completing a bridge loan to acquire the real estate.

»Remedi SeniorCare to open two new facilities in early 2020

Baltimore-based Remedi SeniorCare recently opened its 12th 24-hour, unit-dose medication management pharmacy in Chicago. The 50,000-square-foot pharmacy will employ Remedi’s proprietary dispensing system PAXIT® and eventually employ more than 200 individuals.

In other news, the company named Michael Hovis, PharmD, as general manager of the company’s Huntsville (AL) Pharmacy as development progresses on the company’s thirteenth location. The 36,000-square-foot facility is scheduled to open in the first quarter of 2020.

»First meds delivered by drone

A retirement community resident recently became part of history as one of the first people in the United States to receive a medical prescription by drone under a program approved by the Federal Aviation Administration.

The resident’s delivery, in North Carolina, was the second revenue-generating drone delivery of a medical prescription from a CVS pharmacy directly to a consumer’s home.

»Seniors use Amazon AI device to manage meds

Some senior living residents and other users of Amazon’s Alexa virtual assistant are now able to review prescriptions and set medication reminders by using their pharmacy prescription information, as well as request prescription refills by voice command, using a new feature the company announced in partnership with Omnicell in late December.

Customers in 229 grocery pharmacies in five states are now using the service.

»‘Dump the fax’: EHR solutions provider

GPM Corp. is appealing to nursing homes to cease the arcane practice of faxing orders.

The company pointed to such wasteful practices as paper, time and maintenance. While a “technically HIPAA-compliant” means of transmitting sensitive information, faxes can and have wound up in the wrong hands, compromising privacy.