Baltimore, Maryland — Skilled nursing deal activity isn’t slowing down. Even with economic uncertainty hanging over the broader healthcare sector, lenders and brokers closed a string of notable transactions last week — including a record-breaking sale in a state where deals of that size rarely happen.
Capital Funding Group (CFG) announced the closing of a $72.4 million bridge loan to support the refinancing and dividend recapitalization of a nine-facility skilled nursing portfolio spanning Georgia, North Carolina, and South Carolina. CFG President Erik Howard said the deal reflects continued demand from experienced operators looking to unlock equity and set their assets up for long-term growth.
Tim Eberhardt, who oversees bridge, HUD, and agency lending at CFG, said the team structured the financing to give the borrower immediate liquidity while maintaining flexibility for permanent execution down the road. “We aligned the bridge financing with a clear path to permanent execution, allowing the borrower to access liquidity now while positioning the assets for continued performance,” Eberhardt said.
A Record-Breaking Wyoming Sale
Elsewhere, Evans Senior Investments (ESI) facilitated the sale of a 128-bed nursing home in Sheridan, Wyoming for $20 million — or roughly $156,250 per bed. According to ESI, that’s a record-breaking price for a skilled nursing facility transaction in the state.
The facility was 61% occupied at the time of sale. The seller was a regional owner-operator looking to recycle capital, and the buyer was an unnamed REIT partnering with a regional operator. ESI helped navigate the regulatory environment and identify a buyer capable of capturing the asset’s full potential — including an identified path to more than $250,000 in annual savings on rehabilitation expenses and $87,000 in pharmacy costs.
The price was secured based on stabilized future potential rather than current performance, a reflection of how sophisticated buyers are increasingly underwriting deals in this space.
More Deals Across the Country
In New York, Marcus & Millichap arranged the sale of an 82-bed facility in Hoosick Falls — a single-story building about 30 miles northeast of Albany, originally constructed in 1954 and expanded through 1995. The sales price was not disclosed. Brokerage specialist Joseph Knapp called the deal a sign of “sustained demand from buyers focused on long-term value and operational stability.”
And in Iowa, brokerage firm SLIB sold Arbor Springs — a 56-bed memory care community in West Des Moines — for an undisclosed amount. The property was originally licensed as a skilled nursing facility but operates exclusively as memory care. The seller was a REIT that had owned the asset since 2019; the operator is not acquiring the real estate.
Separately, Greystone provided a $49 million HUD-insured refinance loan for two skilled nursing facilities totaling 219 beds in California, completing a full cycle after previously financing the acquisition with a bridge loan in early 2025.
What It Signals
Taken together, the transactions reflect a sector that continues to attract capital even as operators face pressure on multiple fronts. Deal activity surged 36% in the first quarter of 2026 compared to the prior year, and this week’s closings suggest that momentum hasn’t faded heading into May.
The Wyoming sale, in particular, stands out. Getting $156,000 per bed for a facility at 61% occupancy isn’t a routine outcome — it’s a signal that some buyers are willing to pay for upside, not just stabilized performance.
