Home youth program budget Cambridge offers $ 12 million HUD loan; 120 SNF beds sold in Florida

Cambridge offers $ 12 million HUD loan; 120 SNF beds sold in Florida

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Cambridge Realty Capital Companies announced last month that it has provided a loan of $ 12,722,300 to the Department of Housing and Urban Development to refinance a 249-bed skilled nursing facility in Cicero, Illinois.

The facility, Alden Town Manor, offers a wide range of health care services and programs, including orthopedic, cardiac, pulmonary and stroke rehabilitation, as well as short-term rehabilitation and on-site dialysis for patients. medically complex care.

The fully amortized 35-year loan was given to the owner, an Illinois limited liability company.

SLIB finalizes sale in Florida

Senior Living Investment Brokerage has announced the sale of a 120 bed community of trained nurses in Lakeland, Florida.

Located between Tampa Bay and Orlando, the assisted living and skilled nursing center has gone through a few rough years.

It was downgraded by the state in 2017, reopened to accommodate COVID-19 residents in early 2020 but was nearly vacant when the owner, a publicly traded real estate investment trust, decided to sell, according to the press release. .

AL and SNF now operate as a campus owned by Mainstay Senior Living.

“It was a great opportunity for the buyer to recreate the original vision for the campus offering assisted living, memory care and skilled nursing services on one site,” said Bradley Clousing, Managing Director of SLIB, in the press release.

Clousing and Senior Vice President Daniel Geraghty managed the transaction for SLIB.

Blueprint helps sell Massachusetts SNF

Blueprint Healthcare Real Estate helped Salmon Health and Retirement move out of an assisted living and skilled nursing facility in Northbridge, Massachusetts.

The community, which includes 154 specialized nursing beds and 26 assisted living units, comprises more than 93,000 square feet after expansions in 1995 and 2005.

Salmon Health wanted to move away from the majority community of trained nurses and focus on the predominantly senior housing communities in its portfolio.

Blueprint targeted local and regional investors and received several competitive offers before the seller selected a regional operator in the deal.

Contract negotiations failed and after approaching the pool of bidders again, a Massachusetts-based buyer stepped in to close the deal.

Tryko Partners expands to Rhode Island

Brick, New Jersey-based private equity firm Tryko Partners has acquired Scalabrini Villa, adding 120 skilled nursing beds to its Rhode Island portfolio, according to a statement announcing the deal.

The establishment comprises two units of 60 beds, with 12 private rooms and 48 semi-private rooms.

“The acquisition of Scalabrini Villa further increases our investment footprint in New England, particularly in the desirable Rhode Island market,” said Uri Kahanow, Tryko’s director of acquisitions, in the press release. “North Kingstown’s enviable demographics and its extensive regional hospital network added to the appeal of this opportunity. In this context, Scalabrini Villa is well positioned to serve as a leading establishment in the market for decades to come.

A major capital improvement campaign is planned for the facility.

The facilities owned by Tryko are supported by Marquis Health Consulting Services.