Provisional Licenses Resolved
Our client was a sophisticated investor in post acute properties and understood the risk of regulatory distress to asset value. They were a Real Estate Investment Trust of over 1,000 facility holdings, with a management team who understood SNF operations and the significant regulatory risk of the portfolio.
“The regulatory distress of this portfolio was significant and involved State Department of Health and the Office of the Inspector General. Hostile relations between operating company, property company and regulators added to complications in the early days. Over time, we built trust among stakeholders and stayed true to the objective of improving outcomes. In the end, the entire portfolio was transferred to rent-paying tenants within a 12- month period.”
President and CEO, The Long Hill Company
Skilled Nursing Management
Significant regulatory distress
The facility on-site teams had been significantly diminished during the period that investors negotiated terms with its defaulted tenants. Upon arrival, The Long Hill Company took steps to utilize all resources available to manage a most contentious process with regulators and vendors of the portfolio. We managed through turnover of key staff, unstable liquidity sources, and concerned regulators to stabilize operations. We resolved the 100% evacuation of a building due to a burst sprinkler and achieved re-admissions withing a two-week time frame.
Achieved removal of five facilities with State appointed Facility Monitors
Graduated CMS special focus facility
Maintained compliance with existing Corporate Integrity Agreement
Achieved removal of OIG appointed facility monitors
Resolved regulatory distress and successful transfer of entire portfolio within a one-year period
Recovered the lost rental income of the portfolio