Louisiana
Omega Buys Louisiana-Based CommCare’s 244-Bed Nursing Homes; Capital Funding Group Closes $19.8M Financing for Virginia SNF
Capital Funding Group (CFG) successfully closed a significant $19.8 million bridge-to-HUD loan, marking a strategic move in the acquisition of a 120-bed skilled nursing facility in Virginia.
“The successful closing of this financing underscores our leadership in the bridge-to-HUD lending industry,” said CFG Managing Director, Real Estate Finance, Tim Eberhardt, in a press release. “With more than 30 years of offering a one-stop-shop lending experience, we have a competitive edge and embrace our entrepreneurial approach to simplify the loan process, so our clients can seamlessly grow their businesses to reach their goals.”
The financial landscape of the acquisition was reshaped on December 28, 2023, with the completion of the bridge-to-HUD loan, CFG said in a press release. This funding played a pivotal role in activating an in-the-money purchase option, ensuring a smooth acquisition process.
This financial milestone comes on the heels of CFG’s recent announcement of the closure of a $9.5 million HUD loan, a move that supported the refinancing of an existing bridge loan executed by CFG. The refinancing transaction was instrumental in supporting a 173-bed skilled nursing facility in Pennsylvania.
Omega Healthcare REIT Acquires Louisiana-Based Skilled Nursing Facilities in All-Cash Transaction
CommCare, a Louisiana-based nonprofit organization, closed an all-cash transaction with Omega Healthcare REIT and operator Venza Care for a two-property bundle comprising 244 licensed skilled nursing beds.
The cash-flowing properties, located in Center Point and Jonesville, Louisiana, have been performing at stable levels with 244 licensed skilled nursing beds, Blueprint, which facilitated the transactions, said in a press release.
The transaction comes on the heels of the state of Louisiana’s Medicaid rates rebasing, which took effect on July 1, 2023, and resulted in consolidated EBITDAR across the two assets reaching $3 million.
PointClickCare Technologies Acquires American HealthTech, Expanding Its Footprint in Post-Acute Care
PointClickCare Technologies announced the acquisition of American HealthTech, Inc. (AHT), a subsidiary of Computer Programs and Systems, Inc. (CPSI).
CPSI, a community healthcare solutions company listed on NASDAQ under the ticker symbol CPSI, chose PointClickCare as the technology partner to continue supporting AHT customers after deciding to divest AHT as part of its ongoing business transformation. In a press release, they said this move aligns with CPSI’s vision to ensure a seamless transition for AHT customers and maintain their success in the evolving healthcare landscape.
Chris Fowler, President and CEO of CPSI, expressed confidence in PointClickCare.
“PointClickCare and AHT share similar cultures and values, making this an ideal fit for AHT, its clients, and employees,” he said in a press release.
Claire Stephens, Senior Vice President of Post-Acute Care at American HealthTech, emphasized the commitment to providing the best-in-class solutions for AHT customers.
“We are confident that PointClickCare is the right choice and trusted partner to guide AHT customers into the future, empowering them to deliver the highest quality of care,” she said in a press release.
Wisconsin Healthcare Portfolio Acquisition Bolstered by Favorable Reimbursement Rates
A Wisconsin-focused owner-operator acquired the Dove Healthcare portfolio. The portfolio, located throughout the State of Wisconsin, comprises eight assets with a total of 526 beds/units dedicated to skilled nursing and assisted living.
Blueprint, which facilitated the sale, said the acquisition positions the new owner as a dominant player in the region, with operational synergies and a significant market share.
The Dove Healthcare portfolio includes 304 licensed skilled nursing beds, 104 Residential Care Apartment Complex (RCAC) units, and capacity for 118 Community-Based Residential Facility (CBRF) residents.
Blueprint said the due diligence period for the acquisition coincided with significant statewide Medicaid reimbursement rate enhancements in Wisconsin, effective July 1st, 2023.
This development, coupled with rate increases for private pay RCAC/CBRF residents ranging from 8% to 15% as of October 1st, 2022, has generated substantial revenue upside for the acquirer. These favorable financial conditions have also facilitated the negotiation of attractive financing terms.
Louisiana
New Louisiana waterway cleanup initiative aims to start in September
Love Our Waterways, a new statewide waterway and shoreline cleanup initiative, will take place throughout Louisiana in September.
Under the auspices of Keep Louisiana Beautiful and Lt. Gov. Billy Nungesser, the program will involve volunteers, businesses, schools, civic organizations, and community groups in removing litter and debris from Louisiana’s rivers, lakes, bayous, beaches, and shorelines.
World Cleanup Day will take place on Sept. 20, with September globally recognized as Ocean Conservancy’s International Coastal Cleanup Month. Love Our Waterways will serve as a registered effort supporting both initiatives.
Registration is now open at LoveLaWaterways.org. Volunteers can register for a cleanup event or find opportunities to participate. Participants can clean shorelines, clean out drains and ditches, clean by paddle or motorized boat, promote on social media, and/or donate to amplify the impact. Keep Louisiana Beautiful will provide supply boxes for the first 200 groups to register.
Volunteers will also help collect important litter data by documenting the types of debris removed and identifying larger abandoned items, including derelict crab traps, abandoned vessels, and other marine debris. This information will be shared with partner agencies to support future removal efforts.
Louisiana
Saronic’s Louisiana shipyard helps drive a new wave of defense technology
Saronic Technologies is at the center of a major shift in naval warfare, a move toward autonomous vessels, artificial intelligence and faster defense manufacturing, The New York Times reports.
That shift gained attention after a June rescue mission near the Strait of Hormuz, when a Saronic-built Corsair unmanned vessel helped recover two stranded military aviators after their helicopter was downed. Navy officials said the mission demonstrated how autonomous systems can reduce risk and save lives.
For Louisiana, the larger story is Saronic’s decision to establish a major manufacturing presence in Franklin. The Austin-based defense technology company acquired the former Gulf Craft shipyard and is expanding the facility as it works to move from prototype development into higher-volume production of autonomous vessels.
Saronic is also competing for a role in the Navy’s roughly $2.1 billion effort to build a new fleet of medium-sized unmanned surface vessels. The company was among seven firms selected to continue in the competition, but the process has sparked controversy. Some competitors argue that the Navy gave Saronic preferential treatment, while the Defense Department denies any political favoritism and says the selections were based on technical capability and readiness.
The competition reflects a broader transformation in defense contracting. Traditional military shipbuilders are now competing with newer defense technology companies that combine software, artificial intelligence, autonomous systems and private investment. Saronic’s strategy has been to pair that technology approach with shipbuilding capacity, including its Louisiana facility.
The Franklin shipyard is a key part of that strategy. Saronic plans to expand the site to support production of larger autonomous surface vessels, including its Marauder platform, as the Pentagon increasingly looks for scalable systems that can complement traditional naval assets.
For Louisiana’s maritime industry, the investment highlights the state’s potential role in the next generation of defense manufacturing. The region’s existing shipbuilding workforce and industrial base provide a foundation for companies seeking to build advanced vessels, though expansion will depend on maintaining a pipeline of skilled workers such as welders, fabricators and marine technicians.
The New York Times has the full story.
Louisiana
Louisiana pastor Tony Spell ordered to stay 50 yards from alleged assault victim’s home as bodycam appears to shows him using slur
Louisiana pastor Tony Spell must stay 50 yards from his neighbor’s home unless he’s checking the mail after a protection order was issued against him – as shocking bodycam appears to show him using a homophobic slur to describe his alleged assault victim, just two days after he was arrested.
Spell, 48, is banned from speaking with the neighbor either online and in person, according to the order issued Friday, which has since been reported by The Advocate.
“Mr Spell may walk over and check his mailbox; other than checking his mailbox, he is to be 50 yards away from the protected person’s property,” a note on the order says.
Spell, the pastor of Baton Rouge’s Life Tabernacle Church, will appear in court in September after being charged with second degree battery over last month’s assault that unfolded opposite the church.
He claimed Scott Sherwin’s son had threatened to rape and kill his wife before delivering 35 blows.
But two days after the brawl Scott Sherwin reported Spell for allegedly mowing his lawn at 4 a.m., WBRZ reported.
“He’s doing this to intimidate my victim son,” Sherwin claimed in bodycam video seen by The Post.
“Do you cut your grass at 4 in the morning?” he asked the responding officer.
“You gotta get him to stop man,” the furious dad said.
Sherwin claimed his family was unable to sleep – alleging Spell was carrying out “psychological warfare.”
An enraged Sherwin then swore at his neighbor, allegedly flipping him off, according to the bodycam.
“I was asleep when this started at four in the morning,” Sherwin stressed, aggressively pointing at his phone.
The cop then went over to Spell, who was sitting on his lawnmower, before asking for his name.
“Everybody in the world knows my name,” Spell brazenly replied to the cop.
Spell, who faces up to eight years in prison if convicted, then labeled Sherwin’s son a “f—-t” and seemed to take pride in the now-viral beatdown.
“He’s just sore because I beat the crap out of his f—-t boy,” he said.
“And he’s next if he comes over here and harasses these boys,” Spell said, speaking while a group of teens gathered nearby.
Spell then started his lawnmower up and told the boys “get to work,” essentially ordering them to clear off.
Spell strongly defended his actions after being released from jail over the assault.
“Number one, I’m a husband, number two, I’m a father, and number three, I’m a pastor who shepherds his flock,” he said. “I will not allow a man to murder my children when I’m gone,” he told reporters.
He revealed what Sherwin’s son allegedly said, which prompted the beatdown.
“He said, ‘Tony, I’m going to rape your wife, I’m going to rape all your grandchildren, and the next time you go out of town, I’m going to kill them,’” Spell said.
He addressed the altercation to his congregation and compared it to “domestic terrorism.” He also cited a Bible passage from Mark 16:18, WAFB reported.
“In my name, they shall lay hands on the sick. And they shall recover,” he said.
“So today, I fulfilled the scripture. I laid hands on the sick. I don’t know how much recovery they’re going to have, but I laid hands on the sick.”
Spell has been in a longstanding feud with Sherwin; the pastor filed a lawsuit during the pandemic in 2020 over surveillance cameras that were installed.
During the COVID-19 pandemic, Spell was ticketed for holding in-person church services, defying Louisiana’s social distancing restrictions.
Spell claimed the cameras were installed to monitor him.
In April 2020, Spell was accused of attacking a protester outside his church. Police alleged that Spell backed his church bus in the direction of the protester, who was identified as Trey Bennett, according to news station WAFB-TV.
He was arrested for aggravated assault but never formally charged.
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