Evans Senior Investments (ESI) has successfully arranged the sale of Holmes Lake Rehabilitation and Care Center, a prominent nursing home located in Lincoln, Nebraska. The financial details of the transaction remain undisclosed.
Transition for Independent Owner-Operator
The sale was carried out on behalf of an independent owner-operator who, after years of dedicated service to the community, decided it was time to exit the industry. Holmes Lake Rehabilitation and Care Center, initially constructed in 1974, spans seven acres and includes 97 skilled nursing beds across 51 rooms.
Challenges Faced by the Facility
At the time of the sale, Holmes Lake was facing significant challenges. The occupancy rate had dropped to 61%, a decline from its previous rates of 70% to 85% in earlier years. Additionally, the facility had received a 1-star rating from the Centers for Medicare & Medicaid Services (CMS), reflecting ongoing operational difficulties and the impact of increasingly stringent regulations.
Strategic Marketing and Sale
Despite these challenges, ESI emphasized Holmes Lake's potential during the marketing process. This strategic approach attracted a regional owner-operator buyer with the necessary expertise and resources to revitalize the facility and improve its operations.
Ignite Medical Resorts Breaks Ground on New Facility in Missouri
In other industry news, Ignite Medical Resorts has commenced construction on its latest skilled nursing facility near St. Louis, Missouri. The groundbreaking ceremony took place on Wednesday, marking the beginning of a significant project expected to significantly impact the local economy and healthcare landscape.
Economic and Community Impact
The new, state-of-the-art facility is slated to open in the summer of 2025. The construction phase will generate over 200 jobs, and once operational, the facility is expected to create 150 healthcare and facility positions in the greater St. Charles County area. Conveniently located near Barnes Jewish St. Peters Hospital, the new facility aims to enhance local healthcare services.
Tim Fields, CEO and co-founder of Ignite Medical Resorts, expressed his excitement about the project, stating, "We are thrilled to break ground on this state-of-the-art project in partnership with Leo Brown Group. We look forward to bringing LuxeRehab to the city of St. Peters and serving greater St. Louis."
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