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New York & Tri-State  + Tri-State  + Healthcare  | 

VestraCare Buys Upstate SNF

New York-based VestraCare has acquired James Square Health and Rehabilitation Center, a 440-bed skilled nursing facility in Syracuse, NY. The facility has been renamed Bishop Rehabilitation and Nursing Center.

Arbor Realty Trust’s Alexander Kaushansky originated a $41.65-million bridge loan on VestraCare’s behalf. Evan Goldenberg of EBEX Holdings provided assistance to all parties involved, and Ari Dobkin, managing director at Meridian Capital Group, represented VestraCare to Arbor.

In other news, Arbor announced the appointment of Frank Lutz as EVP, chief production officer. He’ll oversee all of Arbor’s agency lending platforms in terms of business development, as well as Arbor’s national production network and originations team.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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  • ◦Sale/Acquisition