Sabra Health Care REIT (Nasdaq: SBRA) on Wednesday announced the $18.4 million sale of a skilled nursing and transitional facility leased to operator Genesis HealthCare (NYSE: GEN), formally concluding a long-term disposition plan that began in 2017.

The August 1 transaction also saw the unnamed buyer assume $17.6 million in mortgage debt, backed by the federal Department of Housing and Urban Development, on the property.

The deal comes after the Irvine, Calif.-based real estate investment trust (REIT) sold a pair of Genesis-operated properties earlier in the second quarter of 2020.

“This sale marks the completion of the dispositions identified in our 2017 memorandum of understanding with Genesis,” Sabra reported. “As a result of these dispositions, Genesis’s new annual rental obligation to us is approximately $21.8 million and our annual interest expense will decrease by approximately $1.1 million.”

The REIT and the Kennett Square, Pa.-based skilled nursing giant had been in the midst of a lengthy decoupling — which Sabra had dubbed the “Genesis Exodus” — since 2017. All told, the REIT reduced its exposure to Genesis by selling more than 70 properties under the operator’s management.

Ensign’s Portfolio Grows to 226

The Ensign Group acquired the real estate and operations of a post-acute care campus in Tempe, Ariz., that includes the 62-bed skilled nursing facility Tempe Post Acute and the senior living center Desert Marigold Senior Living of Tempe.

“We are very excited to add this well-respected health care campus to our mature operations in the greater Phoenix market,” Ensign CEO Barry Port said in a press release announcing the deal. “As our first transaction since the COVID pandemic arrived at our doorsteps, our local leadership team in Arizona has taken extra precautions and have implemented a care plan to meet the needs of patients while closely following local and state guidelines.”

With the acquisition, Ensign’s portfolio grew to 226 health care operations, 24 of which include assisted living, across thirteen states.

“This is a unique time to add an operation but our local team of clinical and operational leaders are amongst our most experienced transition teams that have participated in many acquisitions in Arizona,” Forrest Peterson, president of Ensign’s Arizona-based subsidiary Bandera Healthcare LLC, said in the press release.

Saber Healthcare Group Buys Several Senatara Life Care Sites in Virginia

Saber Healthcare Group purchased several Sentara Life Care nursing ] and assisted living facilities in Virginia, The Gazette-Virginian reported.

Saber is purchasing Sentara Woodview in South Boston, Sentara MeadowView Terrace in Clarksville, Sentara Windermere in Virginia Beach, the Sentara nursing and assisted living campus in Virginia Beach, the Sentara Rehabilitation and Care Residence in Chesapeake and the Sentara Nursing and Rehabilitation Center in Hampton, the publication reported.

The sales price was not disclosed, and all Sentara Life Care employees are expected to transition to Saber with years of service recognized, or stay on with Sentara.

Saber currently operates 27 long-term care facilities in Virginia, according to the publication. It has more than 127 skilled nursing and assisted living facilities in seven states including Ohio, Indiana, Pennsylvania, Delaware, Virginia, North Carolina, and Florida. The sale is expected to be concluded by Nov. 1.

“This is a strategic decision by Sentara to focus our clinical efforts on our hospitals and outpatient services,” Paul Gaden, corporate vice president for Sentara Healthcare and president of Sentara’s western region, said of the sale.

SLP Operations Acquires Two Houston-Area SNFs

SLP Operations, LLC acquired two new SNFs, the 111-bed Pinehurst Nursing and Rehabilitation Center in Orange, Texas, and the 107-bed Seabreeze Nursing and Rehabilitation Center in Texas City, Texas, bringing its total number SNFs in Texas to 41 centers.

SLP started operating the centers on August 1; Akeeta Thomas, regional vice president of operations, will lead operations at the facilities.

Both SNFs offer skilled nursing, physical therapy, post-acute care, long-term care, rehabilitation services, respite care, and memory care.