Multiple skilled nursing facilities changed hands across the country over the past week, with deals closing in Oklahoma, New York, Iowa, Illinois, Nevada, and Kansas — a sign that transaction activity in the sector remains strong even as operators navigate a choppy economic environment.
506-Bed Oklahoma Portfolio Sold Off-Market
A five-building, 506-bed skilled nursing portfolio in Oklahoma was acquired in a direct, off-market transaction brokered by Plains Commercial Real Estate, an Oklahoma City-based firm. The buyer, described as a Northeast-based private equity firm already active in the skilled nursing space, was looking to expand into new states.
The seller was a second-generation skilled nursing operator nearing retirement. After initial discussions, both sides agreed on pricing that worked for the buyer’s acquisition criteria and met the seller’s exit goals. It was the buyer’s first entry into Oklahoma, and the deal involved navigating the state’s Certificate of Need transfer process.
New York Deals: $21.43M Buffalo Sale and a Troy Transaction
In Buffalo, Waterfront Land Associates — a New York City-based firm led by Daryl Hagler — sold Ellicott Center to 200th Seventh SNF Realty for $21.43 million. The facility, originally acquired in 2013 as Waterfront Healthcare Center, will continue operating under Centers Health Care, which manages more than 35 nursing and rehabilitation facilities across New York and New Jersey.
The buyer appears to be connected to Emerald Group, which has recently acquired several nursing home properties from Hagler in transactions totaling more than $300 million.
In upstate New York, real estate tied to a skilled nursing facility in Troy sold separately for $7 million.
Iowa: Cedar Rapids SNF Changes Hands
Blueprint arranged the sale of a 60-bed skilled nursing facility in Cedar Rapids, Iowa. The facility had strong occupancy and a steady census pipeline built on established referral relationships, making it an attractive target. A regional owner-operator with a track record in skilled nursing acquired the property, with ownership specifically seeking a buyer committed to preserving the facility’s culture.
Financing Closes for Illinois, Nevada, and Kansas
CIBC Bank USA closed several financing transactions across the sector. The bank provided a $51.5 million acquisition term loan — along with a $2.5 million capital expenditure line and an $8 million working capital revolver — for a four-facility skilled nursing portfolio in Illinois totaling 586 beds. Occupancy at those facilities is expected to run in the high-70% range with continued margin improvement.
CIBC also provided a $34 million acquisition loan and a $2 million working capital revolver for a 144-bed nursing home in Nevada, where the operator plans a 24-bed expansion. A separate $24 million term loan closed for a 200-unit continuing care retirement community in Kansas.
Deals Keep Flowing Despite Uncertainty
The flurry of activity echoes broader industry trends. According to industry reports, skilled nursing deal activity surged 36% in the first quarter of 2026, even as tariff uncertainty and potential Medicaid cuts kept operators cautious. That momentum appears to be carrying into the second quarter.
Private equity firms continue to see skilled nursing as a durable asset class, particularly in states where competition is limited and Certificate of Need requirements protect existing operators from new market entrants.
