$30M Facility to Open in Miami; Kentucky SNF Sells for $6.5M

Greystone Healthcare Management Announces New $30M Facility in Miami

Greystone Healthcare Management announced the opening of a skilled nursing facility in Miami this fall. The center will feature various medical services and specialized orthopedic, cardiac, and stroke rehabilitation programs.

Greystone, which manages 28 facilities in Florida, invested $30 million into the 150-bed Kendall Lakes Health and Rehabilitation Center. The new SNF is expected to have a staff of about  250 medical professionals and administrators when it opens.

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Minnesota Nursing Home Sold to Monarch Healthcare Management

The Pleasant Manor Nursing Home and Pleasant View Estates in Faribault, Minn., were sold to Monarch Healthcare Management, the Faribault Daily News reported.

The nursing home portion of the campus has 65 beds, 42 of which are long-term skilled and 23 of which are transitional care rehabilitation units.

Strawberry Fields REIT Buys Kentucky SNF for $6.5M

Strawberry Fields REIT LLC, based in South Bend, Ind., purchased the 92-bed Landmark Rehabilitation and Nursing Center of River City in Louisville, Ky., for $6.5 million. The facility was 81% occupied at the time of the sale, according to Strawberry Fields, the Commercial Property Executive reported.

The SNF was acquired from Christian Care Centers; Landmark Group currently leases and manages the asset.

Written by Maggie Flynn

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