Continuing Healthcare Solutions, a network of senior living communities based in Middleburg Heights, Ohio, took over seven skilled nursing facilities and an assisted living property that used to be operated by Zanesville, Ohio-based Zandex as of December 28, 2018.
The Times Recorder reported the news.
Zandex reached a purchasing agreement with CHS after almost three years of seeking a buyout, the publication reported in August 2018. Continuing Healthcare has grown to 33 properties throughout Ohio after six years in operation; it started with nine SNFs.
Every former Zandex employee was retained during the transition, Carrie Horst, assistant director of operations for CHS, told the Times Recorder.
Greystone Closes Two-Property Senior Living Portfolio in Rhode Island
Greystone Real Estate Advisors closed the sale of a two-property senior living portfolio in Rhode Island: Chapel Hill in Cumberland and Smithfield Woods in Smithfield. They have 272 assisted living, memory care, and skilled nursing units.
The seller was a publicly traded real estate investment trust (REIT), while the buyer was a partnership between New York-based private equity firm GMF Capital and Meridian Senior Living, the latter of which will operate the properties.
Mike Garbers and Cody Tremper of New York-based Greystone represented the seller in the transaction.
$22.4M Skilled Nursing, Senior Housing Project to Open in Wisconsin
The new Waupun Christian Home, a 104,784-square-foot, $22.4 million facility offering skilled nursing, assisted living, and memory care in Waupun, Wis., will hold a grand opening on January 13, the Daily Citizen reported.
The facility is replacing the Christian Home & Rehabilitation Center, and includes 50 private rooms, long-term and short-stay rehabilitation wings, a rehabilitation gym, and apartments.
$6M SNF to Open in Harlingen, Texas
Momentum Skilled Services, an Austin-based company with nursing and rehabilitation facilities in the Houston area, will open a $6 million SNF in Harlingen, Texas, the Valley Morning Star reported.
The SNF will have about 125 beds and employ 100 to 120 people, John Ballard, Momentum’s vice president of operations, told the publication. Momentum will have five facilities in Houston by the end of 2019, with the Harlingen SNF as the company’s sixth, Ballard also said.
Construction will likely be completed in a year, with Momentum hoping to open the facility in February or March of next year, Ballard told the Valley Morning Star.