» Berkadia’s Seniors Housing & Healthcare Group closed a $76.8 million financing deal for the acquisition of nine skilled nursing facilities. The buildings have a total of 1,167 beds and average occupancy rate of 85.8%. The facilities are in Florida, Maryland, Michigan, Tennessee and Virginia. The buyer is a Tennessee-based owner and operator of skilled nursing and assisted living facilities.
» Tender Loving Care Management is teaming up with Propero Seniors Housing Equity Fund III LLC on a $41.4 million development in Brooksville, FL. The Cortez Oaks Health and Rehabilitation will be a 170-unit facility. It will include 109 skilled nursing beds, 41 assisted living beds and 20 memory care units.
» Premier Health Care Management, Inc. sold five Detroit-area properties to Optalis Healthcare Inc., a leading skilled nursing and senior living company based in Novi, MI. The facilities comprise 1,062 beds and employ more than 2,000 people. The transistion closed in September. Optalis CEO Raj Patel said the deal was “strategically a perfect fit to the [its] growth plan in the Southeast Michigan market.”
From the November 2019 Issue of McKnight's Long-Term Care News
