Design Build Turn-Key delivery of a 120-bed Skilled Nursing Facility
THE SITUATION:
A successful SNF Operator desired to sell his existing 42-bed SNF and his CON to add 78 beds, as part of his exit strategy. The project therefore required a nursing home operator with expertise, and a construction and development team to execute the transaction.
THE ASSIGNMENT:
Congress was brought in by one of its banking relationships to provide a Design Build Turn-Key solution to add 78 beds to an existing 42-bed nursing home. This included Congress providing all permitting and zoning, state Department of Health redesigns, construction, furnishing, interiors, low-voltage and communications system, physical therapy spaces, including all equipment and a dedicated, secure ALZ wing and a dedicated short-term rehab unit.
THE PROGRAM:
Congress facilitated a new construction loan for its client and delivered a Design Build Turn-Key solution to an experienced operator capable of filling up and running the facility profitably.
During the planning process, Congress worked closely with this customer to determine their business model and strategy for the facility, to include the following elements:
- Addition of a dedicated and secure Alzheimer’s unit and oversized therapy space to the plan.
- The addition of extremely generous therapy spaces, with state-of-the-art physical therapy equipment to support the short-term rehab unit.
- Upscale finishes and amenities to attract the operator’s target census market.
- Dedicated ALZ unit, specially furnished, and with interiors and security systems specifically designed for Alzheimer’s care.
- A secure outdoor ALZ garden space for the Memory Care Unit.
THE FINAL RESULT:
The project was completed two months ahead of schedule and provided the Skilled Nursing Facility Operator with a new state-of-the-art facility with an extremely high quality census and one of the highest performing nursing homes in the state.
THE CONGRESS DIFFERENCE:
- Design Build Turn-Key expertise.
- Pre-construction and value engineering processes to facilitate required key updates and modifications to the original plan for the facility.
- Leveraging of Congress’ debt and equity relationships to facilitate the overall financing of the project.