Four-Building Portfolio Sells for $35M; Centers Adds Kansas City Facilities
Liberty Village of Rochelle to Hold Groundbreaking for New Facility
Liberty Village of Rochelle in Illinois will hold a groundbreaking ceremony for its new Manor Court Skilled Nursing and Rehabilitation Center on June 20, the Rochelle News-Leader reported. The skilled nursing facility is planned for 64,000 square feet and 92 beds, and is scheduled to open in December 2019. Construction is expected to start in July.
The facility is expected to offer short-term rehabilitation and long-term care, as well as memory care.
Centers Health Care Acquires Three SNFs in Kansas City Area
Centers Health Care officially acquired three former Serenity Care Group locations in the Kansas City, Mo. market.
The facilities — which account for all of the former Serenity SNFs in the area — include the 145-bed Serenity Rehabilitation and Nursing Overland Park, the 180-bed Serenity Rehabilitation and Nursing Kansas City, and the 98-bed Serenity Rehabilitation and Nursing Butler.
The facilities’ names will be changed to the Overland Park Center for Rehabilitation and Nursing, the Kansas City Center for Rehabilitation and Nursing, and the Butler Center for Rehabilitation and Nursing, respectively.
Centers has 45 skilled nursing facilities in five states and offers services such as long-term care (LTC), home care, and various specialty care services such as ventilator care.
MDG Real Estate Global Acquires Four Indiana Sites for $35M
Boulevard Health, an affiliate of MDG Real Estate Global, purchased four skilled nursing facilities in Sheridan, North Vernon, Connersville, and Fort Wayne, Indiana, for $35.4 million.
Cascade Capital Group, a private health care real estate investment firm based in Skokie, Ill., sold the portfolio, which has a total of 432 beds.
Oxford Finance provided a $29.86 million bridge loan that was arranged by Meridian Capital Group. The Indiana-based Majestic Care will manage the facilities.
Written by Maggie Flynn