SoCal Sees New Sale in Skilled Nursing Facilities

These days, with Covid-related news still top-of-mind, the persistent need for skilled nursing staff remains prevalent. To that end, three properties in Southern California are part of a seven-property deal, via Walker & Dunlop as well as The Cascades Portfolio and Torrance, Calif.-based Rollins-Nelson.

Walker & Dunlop’s Kevin Giusti, Brian Neal, and Andrew Westling helped construct a tailored  capital solution for each portfolio.

The Cascades Portfolio, located throughout Utah, totals seven properties and 693 units. The Rollins-Nelson Portfolio includes three properties and 155 units located in Englewood, Long Beach, and Perris, CA.

Each of the transactions resulted in debt service savings, as well as cash back for repairs to the facilities, according to a news release.

“We were pleased to secure over $77 million in proceeds for our clients, helping to ensure that these skilled nursing facilities continue operations throughout the pandemic,” said Giusti in a news release. “The protracted underwriting timelines that resulted from COVID challenged us to think outside of the box to find the best solutions for our clients, and we are thrilled with the result.”