Legacy Healthcare Buys Elgin, Ill., SNF for $5M, Plans Millions in Renovations
Legacy Healthcare purchased the Advocate Sherman West Court skilled rehabilitation and nursing facility in Elgin, Ill., and plans to invest $2 million in renovations, The Daily Herald reported. Most or all of the 75 staff members are expected to keep their jobs.
The renovations at the facility, now known as Avantara Elgin, will begin early next year. The 112-bed SNF was was the only one in the Advocate Health Care system.
Legacy Healthcare, which has 29 skilled nursing and rehabilitation facilities, officially bought the facility on October 1, with the gross sale totaling $5 million, according to Kane County Recorder documents cited by the Herald.
Former Skyline SNF Will Hit Market in Next Few Months
The Wyndmoor Hills Health Care and Rehabilitation Center, located in Wyndmoor, Penn., will likely be placed up for sale in the next few months, Chestnut Hill Local reported.
The facility, which includes the 77-bed Wyndmoor Hills Premier Subacute Center, 103 apartments in Springfield Senior Living, and the Evergreen Adult Day Program, was taken over by a court-appointed management company in May after Skyline Healthcare was unable to make payroll. Out of nine facilities that the company surrendered, the Wyndmoor is the only one that has not yet been sold to a new owner, Chestnut Hill Local reported.
The facility is currently being managed by the long-term care consulting company Long Hill Company of Shelton, Conn., which manages failing senior health care facilities placed in receivership by government agencies and advises managers looking to avoid failures.
Blueprint Announces Involvement in Dayton, Ohio, SNF Sale
Blueprint Healthcare Real Estate Advisors announced their involvement in the sale of the Forest View Center, an 87-bed skilled nursing facility located in Dayton, Ohio. The facility has a five-star rating from the Centers for Medicare & Medicaid Services (CMS), and Blueprint’s marketing strategy focused on the upside opportunities to reprogram operations and renovate a vacant floor to boost admissions and revenue.
The buyer was a newly formed investor-operator.
Connor Doherty and Michael Segal handled the transaction for Blueprint.
Written by Maggie Flynn