Capital Funding Group (CFG) recently hit a big goal by getting a $9.5 million loan from the Department of Housing and Urban Development (HUD). This loan helped a 173-bed skilled nursing facility in Pennsylvania by refinancing a previous loan. They finished this deal on December 20, 2023. It shows that CFG cares about helping its clients grow, as Craig Casagrande, Managing Director of Long-Term Care, said.
Dove Healthcare Portfolio Sale
Dove Healthcare, a well-known player in Wisconsin's healthcare scene, recently sold its portfolio with the help of Blueprint, a top healthcare real estate advisor. This sale, completed on January 2, 2024, included eight facilities across Wisconsin. They have 526 beds/units for skilled nursing and assisted living. The focus is on Eau Claire, Wisconsin, where the hospitals are located.
Key Highlights of the Dove Healthcare Portfolio
Dove Healthcare's portfolio stands out with its five-star rated communities and closeness to big hospitals like HSHS Sacred Heart, Marshfield Clinic, and Mayo Clinic-Eau Claire. This helps the portfolio offer excellent healthcare services to people in the area.
During the checks before the sale, the portfolio made more money, mainly because of better Medicaid rates in Wisconsin from July 1, 2023. People paying directly for care also paid more starting October 1, 2022. This helped make the sale terms better. The buyer is focused on Wisconsin and saw the good parts of Dove Healthcare's work, which matched what they wanted.
The Transition of Iowa Masonic
Senior Living Investment Brokerage (SLIB) helped change ownership for Iowa Masonic, which has both skilled nursing and independent living near Davenport, Iowa. It has 79 beds for skilled nursing and 40 villas for independent living. The previous owner was a local group, and the new owner had other facilities in Iowa.
Conclusion
These recent moves show how things are changing in healthcare real estate. Big loans help nursing facilities, companies sell their portfolios, and facilities change owners. Everyone is focused on giving good care to people who need it.
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