CareTrust, Griffin-American among latest organizations with big financial shifts

This is a roundup of the latest financial news for long-term care facilities, according to Skilled Nursing News.

ESI Arranges $7.2M Sale of Pennsylvania SNF

Evans Senior Investments (ESI), a real estate brokerage firm with locations in Chicago and Boulder, Colo., represented the sale of the 66-bed Bloomsburg Rehab & Wellness Center, a skilled nursing facility in Pennsylvania for $7.2 million, or $117,000 per bed. The buyer and the seller were publicly traded real estate investment trusts (REITs).

Baton Rouge Nursing Home Sells for $8.6M

Northpoint Healthcare Center, located in Baton Rouge, La., was sold to Old Jefferson Holdings LLC of Winnfield for $8.6 million, The Advocate reported. The nursing home was purchased from Bluebonnet Healthcare.

The nursing home’s name will be changed, officials with Central Management Co. told the publication.

Central Management is a company of Teddy Ray Price, who leads Old Jefferson and serves as vice president of the Louisiana Nursing Home Association and chairman of the Louisiana Board of Examiners of Nursing Facility Administrators.

CareTrust REIT Acquires 464-bed SNF Portfolio in Michigan

CareTrust REIT, Inc. (NASDAQ: CTRE) acquired a five-property skilled nursing portfolio in the Grand Rapids, Mich. area that comprises 464 beds. Inclusive of transaction costs, the total investment was about $41.5 million, StreetInsider.com reported.

Read the full story and all the new acquisitions, mergers, and changes at Skilled Nursing News.


Topics: Executive Leadership , Finance , Operations , Uncategorized