Latest news with #SNFs
Business Wire
29-07-2025
- Business
- Business Wire
Dwight Capital and Dwight Mortgage Trust Finance $650.7MM in Seniors Housing During Q2 2025
MIAMI--(BUSINESS WIRE)-- Dwight Capital and its affiliate REIT, Dwight Mortgage Trust (DMT), closed $650.7 million in seniors housing financings during Q2 2025. The transactions featured a mix of bridge and HUD loans for assisted living facilities (ALFs) and skilled nursing facilities (SNFs) across several states, highlighting Dwight's continued nationwide leadership in the seniors housing sector. The transactions featured a mix of bridge and HUD loans for assisted living facilities (ALFs) and skilled nursing facilities (SNFs) across several states, highlighting Dwight's continued nationwide leadership in the seniors housing sector. Share DMT financed a $230 million bridge loan to facilitate the acquisition of a 19-property skilled nursing/assisted living portfolio located throughout Ohio. These facilities comprise a total of 1,896 beds. To support the portfolio's ongoing operational needs, Dwight Healthcare Funding provided a $12 million working capital line of credit in conjunction with the bridge loan. The loan was originated by Adam Offman, Managing Director of Healthcare Finance, and Yossi Benish, Vice President. Additionally, DMT provided an $80 million bridge acquisition loan for a five-property skilled nursing portfolio located throughout central Florida. These facilities comprise a total of 518 beds. Dwight Healthcare Funding also provided a $12 million working capital line of credit to help fund the portfolio's operations. This transaction was originated by Josh Sturm, Managing Director of Senior Housing and Healthcare. Other notable Q2 2025 seniors housing closings included: HUD Financings $68.0MM HUD 232/223(f) Loan: 480-bed portfolio of four SNFs in Florida. $20.8MM HUD 232/223(f) Loan: Southview Acres Healthcare Center, a 220-bed SNF in West Saint Paul, MN. $15.2MM HUD 232/223(f) Loan: St. Sophia Health and Rehabilitation, a 240-bed SNF in Florissant, MO. $13.1MM HUD 232/223(f) Loan: 117-bed non-profit ALF in the Southeast. The loan also benefited from a Green Mortgage Insurance Premium (MIP) reduction. $10.6MM HUD 232/223(f) Loan: Edenbrook of Edina, an 85-bed SNF in Edina, MN. Bridge Financings $31.5MM Bridge Acquisition: 306-bed portfolio of two SNFs in Norwalk and Stamford, CT, including a $9.0MM revolving line of credit. $26.9MM Bridge Acquisition: 318-bed portfolio of two SNFs in Smithfield and Woonsocket, RI, including a $7.0MM revolving line of credit. $21.0MM Bridge Refinance: 217-bed portfolio of two SNFs in East Bridgewater and Milford, MA, including a $8.0MM revolving line of credit. $20.0MM Bridge Refinance: Bria of Palos Hills, a 207-bed SNF in Palos Hills, IL. $11.0MM Bridge Acquisition: Northridge Health Center, a 96-bed SNF in North Ridgeville, OH, including a $5.5MM revolving line of credit. About Dwight Capital Dwight Capital LLC is a leading commercial real estate finance company in the United States, with a loan servicing portfolio exceeding $13 billion. Our services encompass a wide range of commercial lending options, including Balance-Sheet Bridge & New Construction Loans, FHA/HUD Insured Loans, C-PACE Financing, Mezzanine Financing, and Preferred Equity. For more information about Dwight Capital, please visit: Dwight Mortgage Trust LLC ('DMT' or the 'Fund') is an actively managed real estate investment trust specializing in the origination and financing of commercial mortgages across a range of real estate asset classes. DMT works in conjunction with affiliate firm Dwight Capital to source and evaluate lending opportunities nationwide. The Fund partners with experienced sponsors on projects in major markets, focusing on investments with a clearly defined exit strategy.
Yahoo
29-04-2025
- Business
- Yahoo
CoreCare introduces Pre-Admit to assess skilled nursing referrals
AI-powered workflow platform CoreCare has launched Pre-Admit, a product that accelerates and improves the way Skilled Nursing Facilities (SNFs) process referrals. This solution can deliver assessments within one minute. Pre-Admit has been launched in collaboration with Creative Solutions in Healthcare, which has more than 160 SNFs. The new fully web and mobile-enabled solution aims to streamline the decision-making process for admissions teams. Creative Solutions in Healthcare CEO Gary Blake said: 'We've partnered with CoreCare for over five years, and we didn't adopt their AI because it's trendy. We did it because CoreCare's technology helps our teams work together to make smarter decisions. 'Pre-Admit is the next step in our partnership. It shows our staff what matters, breaks down silos, and helps us get to yes with more referrals - faster and with increased confidence.' Traditionally, clinical reviews could take upwards of 20 minutes, with nearly 67% of admissions proceeding without complete financial verification. This exposes providers to potential financial losses and recoveries. Pre-Admit addresses this issue by quickly identifying clinical and financial risks, allowing admissions teams to act swiftly, increase patient intake, and safeguard their financial margins. CoreCare co-founder and CEO Dennis Antonelos said: 'Pre-Admit redefines how SNFs evaluate and act on referrals. 'It's built to embed expert-level clinical and financial evaluations across every facility, team, and shift - regardless of who's on the floor or in the office. We're proud of our partnership with Creative Solutions in Healthcare, and proud of our team for strengthening CoreCare's platform, giving providers more functionality in one system.' Pre-Admit expands the functionality of CoreCare's Collaborative Revenue Management platform, which already includes products for admissions, reimbursement, and revenue cycle workflows. The platform aids in the optimisation of billing processes, tracking of compliance across PASRR and management of Medicaid applications. "CoreCare introduces Pre-Admit to assess skilled nursing referrals" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
26-02-2025
- Business
- Yahoo
Massachusetts nursing homes, RegalCare, allegedly billed patients for unnecessary care
BOSTON (WWLP) – The United States Attorney's Office and the Massachusetts Attorney General's Office have filed a joint complaint against 19 skilled nursing facilities (SNF) in Massachusetts and Connecticut for alleged fraudulent billing. The complaint was filed on Tuesday under the federal and Massachusetts False Claims Act against these SNFs and their present and former management companies, RegalCare Management Group, LLC, and RegalCare Management 2.0. SNFs serve as inpatient facilities providing transitional care to patients following a hospital stay. Federal healthcare programs like Medicare or Medicaid reimburse providers for medically necessary services provided to patients. Mass. man charged in connection with $30 million healthcare fraud scheme This joint complaint alleged that between 2017 and 2023, RegalCare fraudulently submitted claims to Medicare and Medicaid under the direction of owner Eliyahu Mirlis and executive Hector Caraballo. The claims were allegedly submitted for medically unnecessary and unreasonable services to RegalCare's SNF patients. The documents also state that Stern Therapy Consultants, who works for RegalCare, allegedly aided the company as a co-conspirator. usa_v._regalcare_et_al_-_complaint_and_exhibits-1Download The scheme allegedly resulted in millions of dollars of damages to the Medicaid and Medicare programs as a result. RegalCare, at Mirlis' direction, was alleged to have caused Medicare to be billed for the highest level of skilled rehabilitation therapy services at these SNFs in Massachusetts and Connecticut, despite the patients not needing those services. Caraballo allegedly altered and amended records to ensure that patient records matched the billing. The United States further stated that Stern Therapy Consultants scheduled therapists to provide unnecessary services for RegalCare patients and that Stern managers would threaten therapists if they refused to comply with the scheme. 'I am proud of our team's partnership with the USAO in this case, which advances elder justice and safeguards crucial nursing home funds,' said Massachusetts Attorney General Andrea Joy Campbell. 'My office will continue to work aggressively to protect our elders and hold companies accountable that seek to harm them or violate our false claim laws.' The U.S. and Massachusetts governments filed the complaint in a lawsuit originally filed by a whistleblower under the qui am provisions of the False Claims Act, which allows a private citizen to sue on behalf of the United States or Mass. and share in any recovery. In Massachusetts, RegalCare has facilities in Amesbury, Danvers, Greenfield, Harwich, Holyoke, Lowell, Quincy, Saugus, Taunton and Worcester. WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
