Interra Brokers $6M Sale-Leaseback of SNF in Chicago’s West Loop
Interra Realty brokered the sale-leaseback of Chicago skilled nursing facility Monroe Pavilion, located in the city’s West Loop, for $6 million, REBusinessOnline reported. The buyer, JK Equities, was represented by David Goss and Lucas Fryman of Interra. The seller, Symphony Post Acute Network, was represented by Jon Morgan and Colin O’Malley of Interra.
JK Equities plans to repurpose the building but has not revealed specific plans.
Tryko Partners Adds ManorCare SNF in New Providence, New Jersey
Tryko Partners LLC acquired ManorCare Heath Services-New Providence in New Providence, N.J., and plans to launch an immediate multi-million-dollar upgrade via Marquis Health Services, Tryko’s health care affiliate.
The 106-bed facility, which was purchased from Quality Care Properties, has been renamed the Spring Grove Rehabilitation & Healthcare Center. It provides post-hospital care, short-term rehab, and long-term residential care, and has a five-star rating from the Centers for Medicare & Medicaid Services.
The planned upgrades include adding a new rehabilitation gym and an overhaul of patient rooms, common areas, and hallways. Marquis also plans to reopen a wing of the building that is currently not being used.
The acquisition was financed by CIBC, and brings the Marquis Health Services Mid-Atlantic portfolio to 11 SNFs.
Healthcare Transactions Group Arranges Sale of Maryland SNF
Healthcare Transactions Group facilitated the sale of the 118-bed Transitions Healthcare at Sykesville in Sykesville, Md. The transaction closed on Aug. 31; terms and other details were not disclosed.
The seller is a private real estate investor in Lakewood, N.J.; Mark Davis of Healthcare Transactions Group served as the mergers and acquisitions advisor on the sell side. The buyer was a Maryland-based operator of six other SNFs in the state.
Written by Maggie Flynn