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Owen Hammond

Family Matters – Cascadia Ground Breaking

By Boise Development
Skilled Nursing Development

Cascadia Development

With a brisk  fall bite in the air, we had our ground breaking ceremonies yesterday morning for our Transitional Care Facility at our Boise location.  We are grateful for all of the local support, special thanks to both the St. Alphonsus and St. Luke’s representatives, the city of Boise, the Department of Health and Welfare, the Governors office and many other friends and colleagues who showed support and to those who also attended. We feel very blessed to have the support of the community and definitely felt it yesterday.

 

We continue to be amazed at the many talents our Cascadia partners have, Marlene and Dee, from Shaw Mountain of Cascadia, cooked and displayed an amazing spread of ordoeuvres and drinks from their own facility. Many others stepped up and help with decorations, marketing and setup. Thank you!

 

Lastly, one of our core values at Cascadia is Family, not just in our homes but the family units that we create in our respective facilities and our home office. These are essential to the growth of our culture, the support of our mission and our pursuit of  building a lasting legacy in the industry. It was touching to see children from many of our Cascadia Principals and other partners within Cascadia as they had their very own unscripted shovel ceremony after all the old folks stepped aside.

 

Nothing touches my heart more than to know that the next healthcare generation of kids are getting the opportunity to be a part of Cascadia’s growth and the development of our culture.

 

Thank you for all your support!

Please take a virtual tour of our Transitional Care Facility,  Click Here.

 

New Virtual Tour

By Development, Uncategorized

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Dirt is moving on our Nampa location and we are getting very close to announcing our Ground Breaking for our Boise location. We have some new material to share with everyone, the links below are for a virtual tour of how these facilities will flow. The fixtures will be different but in general this will give you an idea of how the layout and flow will be.

Virtual Tour
Entrance and Elevation

Thanks for Coming!

By Nampa Development

ground-breaking-nampa_orig

We had a great ground breaking ceremony for our Transitional Rehab Center in Nampa, Idaho. Mayor Henry from Nampa was there along with many leaders from the community. We will continue to update our progress at the site over the next few months.  A big thank you to everyone that shared their well wishes and those who showed up for this event. We are grateful for all of the support on this project.

Moving Dirt

By Uncategorized

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Our Nampa Location is active and we are moving dirt!  We are excited to start work on our new Transitional Rehab Facility! We will keep you posted as we make progress at the site.  Currently we are hoping for a 13 month build time and should be opening fall of next year.  Grateful for all the support and partnerships we have formed to make this all happen.

Cascadia Partners with CareTrust REIT on Triple Net Lease Back in Boise, Idaho.

By Development, Uncategorized

05/03/165604922_orig

http://investor.caretrustreit.com/releasedetail.cfm?ReleaseID=968642

CareTrust REIT Acquires Idaho Skilled Nursing Facility

SAN CLEMENTE, Calif., May 03, 2016 (GLOBE NEWSWIRE) — CareTrust REIT, Inc. (NASDAQ:CTRE) today announced that it has acquired Shaw Mountain at Cascadia, a 98-bed skilled nursing facility located in Boise, Idaho, for $8.9 million.  In connection with the acquisition, CareTrust entered into a triple-net lease with Cascadia Healthcare, LLC, which took over operations effective May 1, 2016.
The asset acquisition was sourced by Cascadia, who sought out CareTrust for sale-leaseback financing.  Owen Hammond, Cascadia’s co-founder and CEO, explained their desire to partner with Care Trust. “Their operator-focused philosophy and deep understanding of skilled nursing operations really attracted us to them,” he said, adding that, “We know and trust the CareTrust team as a strategic ally, and look forward to a long and successful partnership with them.”
Greg Stapley, CareTrust’s Chairman and Chief Executive Officer, noted, “We have long known and respected Cascadia’s principals, dating back to our Ensign days together, and are excited to see Cascadia become a major player in the post-acute care delivery throughout Idaho and beyond.”
The Boise investment generates initial annual rental revenue of approximately $0.85 million to CareTrust under the terms of the Cascadia master lease, which carries an initial term of 15 years with two five-year renewal options and CPI-based rent escalators. The acquisition was funded with proceeds from CareTrust’s recent 8.5 million share equity offering, which took place on March 21, 2016.

In separate transactions on the same day, CareTrust also acquired a two-property, 67-unit senior housing portfolio in North Carolina for $11.8 million, which has been leased to Premier Senior Living at an annual rental of approximately $1.0 million. In addition, CareTrust acquired a 175-unit senior housing property located in Bedford, Virginia, in a sale-leaseback from 20/Twenty Management, at a cost of $10.0 million. The property was added to CareTrust’s existing master lease with 20/Twenty, and generates additional annual rental revenue of approximately $0.83 million.

About Cascadia Healthcare

Cascadia Healthcare is a growing post-acute healthcare company, based in Eagle, Idaho. Cascadia’s principals bring a deep understanding of healthcare operations at both the facility and regional levels, having worked in different capacities over many years at one of the nation’s most highly-respected publicly-traded post-acute care providers.
About CareTrustTM
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust that is engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 140 net-leased healthcare properties and three operated seniors housing properties in 19 states, CareTrust is pursuing opportunities nationwide to acquire additional properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust is available at www.caretrustreit.com.

Contact Information CareTrust REIT, Inc. (949) 542-3130, ir@caretrustreit.com

March 24th, 2016

By Uncategorized

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Cascadia Healthcare LLC, a Boise based skilled nursing operator and development company, announced today that it will break ground on two new Transitional Care Facility developments beginning in the summer of 2016.Cascadia’s projects will be state-of-the-art, 99-bed Transitional Rehab and skilled long-term care focused facilities. Each of the Facilities will be comprised of three distinct buildings consisting of nearly 52,000 total square feet. One side will have up to 30 private rooms with private baths and showers. The facilities will provide residents with cutting edge rehab gyms. Included in the design will be separate occupational therapy areas uniquely designed to simulate a homelike environment. These gyms will ensure residents are ready to safely transition back to their prior living arrangements. Another wing will boast 30 semi-private rooms with private showers and open and inviting living spaces where residents can thrive in a community setting. First class activities and dining spaces will allow the residents the maximum quality of life experience, while providing all necessary care. At the heart of these developments will be a state of the art service building delivering restaurant style food, hospitality style cleaning services and accommodations and nearly 5,000 square feet of indoor/outdoor open and innovative therapy space.
Cascadia’s principals have a wealth of experience in the industry, with a mission to “Be a Force for Good” in delivering quality outcomes in community based settings. “We see an industry that is currently operating in severely outdated 50 to 60-year-old frameworks. Most new construction is focused on the “skilled only” rehab market. This reality leaves the long term care population underserved within the new space. Our intent is to focus on both long term care and transitional, caring for each segment with dignity and individualized services while raising the bar for care within our local communities,” President & CEO Owen Hammond said in describing Cascadia’s driving focus.
In addition to the slated developments, Cascadia is actively looking at opportunities to develop and operate, within Idaho and throughout the western states. Hammond noted that, “The team at Cascadia is looking to utilize the unique combination of our experience, and strength as operators and developers to transform industry norms. We can’t think of a better place to start than our home state of Idaho.”
“Our two developments will bring nearly 250 skilled jobs to the Treasure Valley over the next few years, not to mention the jobs that will be created during the construction phase of these facilities,” said Owen Hammond in regards to the impact of this announcement on job creation in the valley.
About Cascadia Healthcare LLC
Cascadia Healthcare is a skilled nursing operator and development company that looks to both build state of the art skilled nursing buildings and acquire, lease and or manage existing skilled nursing operations in states west of the Mississippi. For more information on Cascadia Healthcare LLC., visit the Company’s website at www.cascadiahc.com.