CCN 505299 · Thurston County, Washington
Puget Sound Care
4001 Capitol Mall Dr Southwest, Olympia, WA 98502
Puget Sound Care is a 108-bed for-profit nursing home in Olympia, Washington, first certified for Medicare or Medicaid in 1985. CMS rates it 4 out of 5 stars overall in its September 2026 data, and it averaged 95.1 residents a day, about 88% of its certified beds. It has an active FHA-insured Section 232 loan: $21.6 million originally, at 6.18%, with $21 million outstanding as of September 30, 2026 and maturity in July 2054.
Facility facts
- Certified beds
- 108
- Average residents per day
- 95.1 (88.1% of beds)
- Ownership type
- For profit - Limited Liability company
- Certification
- Medicare and Medicaid
- Legal business name
- Puget Sound Healthcare-Olympia, LLC
- Certified since
- Sep 27, 1985
- Chain or affiliated group
- Caldera Care (6 facilities, chain average 3.0 stars)
- Location
- Urban
Ratings and staffing
Star ratings run from 1 to 5. Staffing is nurse hours per resident per day from CMS Payroll Based Journal data; turnover is the CMS annual nursing staff turnover rate. Occupancy is CMS's average daily census divided by certified beds.
| Measure | This facility | Washington median | US median |
|---|---|---|---|
| Overall rating | 4 of 5 | State spread: 22 at 1, 46 at 2, 36 at 3, 38 at 4, 50 at 5 | |
| Health inspections | 4 of 5 | ||
| Quality measures | 4 of 5 | ||
| Staffing | 3 of 5 | ||
| Total nurse hours per resident per day | 4.02 | 4.10 | 3.68 |
| RN hours per resident per day | 0.55 | 0.91 | 0.58 |
| Weekend nurse hours per resident per day | 3.38 | ||
| Nursing staff turnover | 56.0% | 43.1% | 44.9% |
| Occupancy (residents / beds) | 88.1% | 81.8% | 85.7% |
| Fines reported by CMS | 1 totaling $8,018 | ||
| Health deficiencies, latest standard survey | 9 (Jan 23, 2026) | ||
HUD 223(f) Express Lane: the CMS part
HUD gives 223(f) applications queue priority when the facility has CMS overall and health inspection ratings of at least 2 stars and no abuse icon, among other tests (ORCF criteria of March 31, 2026). Puget Sound Care meets that part today: 4 stars overall, 4 on health inspections, no abuse icon. The loan-to-value, coverage and operator tests depend on the deal. All the criteria.
Who owns and operates it
These are the owners and operators the facility reported to CMS: anyone with a 5% or greater direct or indirect stake, and any organization with operational or managerial control.
| Name | Role | Share | Since |
|---|---|---|---|
| Pnw Healthcare Holdings, LLCOrganization | Direct Ownership Interest | 100% | 06/30/2017 |
| Cornerstone 18 Operations Ajh LLCOrganization | Indirect Ownership Interest | n/a | 05/07/2021 |
| Cornerstone 18 Operations LLCOrganization | Indirect Ownership Interest | n/a | 05/07/2021 |
| Handler, AsherIndividual | Indirect Ownership Interest | n/a | 05/07/2021 |
| Wolmark, ChaimIndividual | Indirect Ownership Interest | n/a | 05/07/2021 |
| Chheda, NeelIndividual | Operational / Managerial Control | n/a | 05/07/2021 |
| Oscherowitz, RaphaelIndividual | Operational / Managerial Control | n/a | 05/07/2021 |
| Shepard, AddisonIndividual | Operational / Managerial Control | n/a | 05/07/2021 |
| Wolmark, ChaimIndividual | Operational / Managerial Control | n/a | 05/07/2021 |
Changes of ownership
| Effective | Buyer | Seller |
|---|---|---|
| Dec 1, 2017 | Puget Sound Healthcare-Olympia, LLC | Fmg Capitol Mall Drive Southwest Washington LLC |
HUD Section 232 loans
HUD's Office of Healthcare Programs lists these FHA-insured loans for a project we matched to this facility by name, city and bed count. Status, rate and balance come from HUD's insured-mortgage files as of September 30, 2026. Check the FHA number against the loan documents before relying on the match.
| Endorsed | Program | Original amount | Status | FHA number |
|---|---|---|---|---|
| Jun 5, 2024 | 223(f) refinance or purchaseHUD project name: Puget Sound Healthcare Center, 107 beds. Lender at endorsement: Capital Funding LLC | $21,576,000 | Active: 6.18%, $21,000,295 balanceMatures Jul 1, 2054. Servicer: Capital Funding LLC | 17122056 |
| Feb 15, 2012 | 223(f) refinance or purchaseHUD project name: ExtendicareC6-Puget Sound Healthcare, 108 beds. Lender at endorsement: Ziegler Financing Corp | $9,435,100 | Ended May 7, 2021Prepayment | 12722078 |
Sources and dates
Facility, rating, staffing and ownership data: CMS Provider Information and CMS Ownership, processing date September 2026. Private equity, REIT and mortgage-interest flags and changes of ownership: CMS Skilled Nursing Facility All Owners and Change of Ownership files (2026-10-01). FHA-insured loans: HUD Office of Healthcare Programs endorsement database, data run July 8, 2026. How we join them, and what the join can get wrong: methodology.
SNF Register is independent. It is not affiliated with or endorsed by CMS, HUD or FHA. Spotted an error? Write to hello@hudskillednursing.loan.