Two Former Senior Care Centers SNFs Sell for $20.5M; Ensign Group Grows Again in Idaho

Two skilled nursing facilities in Texas formerly operated by Senior Care Centers, which declared bankruptcy last year, were purchased by a New York-based owner-operator group for $20.5 million.

The facilities, located in New Braunfels and in Round Rock, Texas, were each built in 2008 and have 128 licensed beds. The SNF in New Braunfels was almost 75% occupied at the start of marketing, while the Round Rock facility was almost 64% occupied.

The seller was a local real estate owner, and the buyer assumed an existing Department of Housing and Urban Development (HUD) loan.

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Matthew Alley of Senior Living Investment Brokerage facilitated the transaction.

Ensign Adds New Idaho SNF

The Ensign Group (Nasdaq: ENSG) acquired the real estate and operations of the 119-bed Temple View Transitional Care Center in Rexburg, Idaho, effective September 1.

With the acquisition, Ensign’s portfolio grew to 202 skilled nursing operations, 57 assisted and independent living properties, 26 home health agencies, 28 hospice agencies, and nine home care businesses in 16 states.

“We are excited about our continued growth in Idaho, a market where we have become a leading provider of post-acute care,” Ensign CEO Barry Port said in a press release announcing the deal.

Ensign acquired the real estate and operations of the 40-bed McCall Rehabilitation and Care Center in McCall, Idaho, in July, and two other SNFs in the state in November 2018.

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