The Utah-based skilled nursing operator Eduro Healthcare last week announced its expansion into Texas with a four-building pickup.
Eduro signed a long-term lease to manage the quartet of buildings in Beeville, Cleburn, Hurst, and Lockhart, Texas, with a total of 434 beds.
“We are excited about the opportunity to enter the Texas market,” Eduro managing partner Michael Bewsey said in a statement announcing the deal. “We have an outstanding leadership team with years of operating experience in Texas and this portfolio gives us a scalable footprint to grow in the Lone Star State.”
Founded in 2008, Eduro operates 23 facilities across 10 states, including eight added since July 2020.
“Our capital partners are confident in our ability to take on challenging opportunities and I think we have shown we have the local and corporate leadership to manage through difficult times,” Eduro vice president of investments Sam Bechthold said in the statement.
CommuniCare’s $6.3M Pickup in Ohio
The CommuniCare Family of Companies picked up a pair of nursing homes in Salem, Ohio for a total of $6.3 million, according to a report in The (Youngstown) Business Journal.
The Blue Ash, Ohio-based CommuniCare owns the Salem North and Salem West facilities as of March 26, the publication reported, citing local property records.
CommuniCare operates more than 80 facilities, with locations in Indiana, Maryland, Missouri, Ohio, Pennsylvania, Virginia, and West Virginia. The company in early March expanded its operations into the eastern part of Pennsylvania with the takeover of Silver Lake Healthcare Center in the Philadelphia suburb of Bristol.
Greystone Adds Morris to Skilled Nursing Acquisition Team
Real estate finance firm Greystone last week announced the hire of Andrew Morris as a director in its health care acquisitions group, with a particular focus on skilled nursing facilities.
Prior to joining the New York City-based Greystone, Morris served as director of investments for Hana2.0 Property Group, and held positions at Cascade Capital Group, Omega Healthcare Investors (NYSE: OHI), and GE Capital (NYSE: GE).
Morris will work from Greystone’s Chicago office, reporting to corporate executive vice president Arthur Hatzopoulos.
“Andrew’s expertise in the seniors housing industry will serve a vital role as we build a healthy acquisitions pipeline,” Hatzopoulos said in a statement. “We are excited to have him join a team as equally passionate about healthcare as he is, and we look forward to his contributions.”