SKOKIE, IL – February 4, 2018 – Cascade Capital Group announces the final closings of a skilled nursing portfolio located across six states throughout the Midwest and Pacific Northwest. In total, Cascade successfully transitioned more than 60 long-term care facilities with over 5,500 beds to five separate regional operators, making it one of the most substantial skilled nursing transactions of the past year.
Approached by a leading healthcare REIT searching to replace its existing operator, Cascade utilized its expertise as acquisition and operational specialists to successfully transfer the assets to regionally focused operators. “Cascade applied our unique understanding of the complexity of skilled nursing facilities to analyze the portfolio from the lens of an operator and not just a landlord,” explained Cascade Chief Financial Officer Ross Bottner. At the initial stages of the transaction, Cascade underwrote and assessed each facility, identifying key areas ripe for financial and operational growth.
Through a comprehensive vetting process, Cascade identified tenants with high-quality care and service standards. Cascade then paired the facilities to match the operators’ geographic footprint and operational approach. As part of its role, Cascade navigated the approval process required when working with the Department of Housing and Urban Development (HUD) as well as other governmental agencies unique to this transaction.
“Despite the various states and multiple parties involved, Cascade brought this large, complex matter to a timely closing and seamless hand-off to the facilities’ new operators.” said Bottner.
About Cascade Capital Group, LLC
Cascade is an independent, privately-held healthcare real estate investment and management company focused on acquiring underperforming/value-add skilled nursing, rehabilitation, post-acute, and transitional care facilities, leasing to quality tenant operators. Launched in January 2016 by the owners/operators and leadership team that built Legacy Healthcare, Cascade seeks operators who demonstrate a true, identifiable commitment to outstanding care, technological advancement, and personal service. Leveraging its prior experience in healthcare operations, Cascade offers an unmatched Asset Management platform resulting in a new and growing inventory of post-acute care facilities in over 20 states that are positioned to meet the demands of the medical community and more discerning healthcare consumers. For more information visit cascadellc.com.
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