The property associated with the Sanatoga Center skilled nursing and rehabilitation facility in Sanatoga, Penn., sold for more than $20.9 million, The Santoga Post reported Wednesday.
The deal closed on Jan. 28. The property was previously owned by DELM Nursing Inc. of Kennett Square, Pa.; it was sold to a company called Santoga RE, according to Montgomery County property tax records cited by The Post.
Santoga RE is directing contacts to Next Healthcare Group in Manhattan, N.Y., the publication noted. Next recently partnered with Genesis HealthCare (NYSE: GEN) to help the Kennett Square, Pa.-based operator purchase 15 SNFs from Welltower Inc. (NYSE: WELL) in a $204 million deal.
Both Sanatoga Court — a companion building to Sanatoga Center — and the SNF are apparently under Genesis’ management, the Post said.
Two SNFs Go to Regional Buyer in Wisconsin
Two skilled nursing facilities in Wisconsin, the Parkview Manor and Omro Care Center, were sold to a buyer seeking to grow its regional platform.
Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage, arranged the deal for a publicly traded real estate investment trust (REIT) and a national operator looking to exit Wisconsin.
The two facilities are licensed for a combined 250 beds, and were sold to an owner-operator looking to expand its presence in Packer County, Wis.
Strawberry Fields REIT Acquires Three Kentucky SNFs for $21M
Strawberry Fields REIT, which is based in South Bend, Ind., acquired three SNFs in Kentucky for a combined purchase price of $21 million — financing for which was provided by Oxford Finance, LLC. The 312-bed portfolio’s average occupancy is 73%, with a payer distribution of 21% Medicare, 60% Medicaid, and 19% private pay.
Landmark Group will serve as the operator.
Catholic SNF Sold to Private Operator
Catholic Charities New Hampshire (CCNH) is selling the Good Shepherd Rehabilitation and Nursing Center to MED Healthcare Partners, the New Hampshire Union Leader reported.
The announcement was made February 14 by Tom Blonski, president and CEO of CCNH, who told the Union Leader that the cost is not yet finalized. When the sale is final, CCNH will commit $1 million in resources — administered through a trust — that will make yearly distributions for services and care for vulnerable seniors in the Monadnock region of New Hampshire.
MED Healthcare Partners operates more than 100 nursing homes and rehabilitation facilities across the Northeast, Mid-Atlantic, and Midwest, Blonski said.
Senior Housing-Based SNF to Open in Florida
The Gardens at Terracina Health & Rehabilitation SNF in Naples, Fla., held an open house and is scheduled to formally open soon, Coastal Breeze News reported on Friday.
The facility is located on the Terracina Senior Living campus and will include 30 private rooms, offering physical, occupational, and speech therapy, as well as primary care services, diagnostic testing coordination, and skilled nursing care.
Companies featured in this article:
Blueprint Healthcare Real Estate Advisors, Catholic Charities New Hampshire, Coastal Breeze News, Genesis HealthCare, Landmark Group, MED Healthcare Partners, New Hampshire Union Leader, Next Healthcare Capital, Sanatoga Center, Strawberry Fields REIT LLC, The Sanatoga Post