A skilled nursing portfolio comprising 5,000 licensed beds across seven states in the Midwest and Southeast has been sold for about $545 million.

“The ownership group was steadfast in its valuation expectations and highly selective in buyer engagement due to the portfolio’s operational intricacies, significant capital expenditure requirements and the rapidly changing reimbursement landscape,” an announcement from 3G Healthcare Real Estate stated. “Multiple deal structures were evaluated to ensure the best outcome for all stakeholders.”

The portfolio spans Illinois, Missouri, Tennessee, Louisiana, Mississippi, Alabama and Georgia.

The announcement from 3G did not disclose the identity of the seller or buyer by name.

Sources with knowledge of the deal told Skilled Nursing News that the facilities were previously associated with Tara Cares and were acquired by Skokie, Illinois-based Cascade Capital Group. Legacy Healthcare is the operating partner of Cascade.

Aurora Cares, which was doing business as Tara Cares, closed its office in western New York in late November, according to a report in Buffalo Business First. The article cited a prepared statement from Aurora Cares, which said:

“Aurora Cares LLC d/b/a Tara Cares is an administrative services provider with its primary clients being skilled nursing homes in the southeastern United States. Those nursing homes are undergoing a change in ownership that is expected to take place on Oct. 31, 2025.”

Nursing homes associated with Tara Cares in the Birmingham, Alabama-area were sold to “various companies associated with Legacy Healthcare,” the Birmingham Business Journal reported.

SNN reached out to Cascade Capital, which had not responded at the time of publication.

Cascade is a privately held health care real estate investment and management company. Last year, the firm acquired a majority of the properties of bankrupt Petersen Health Care. Cascade also acquired the skilled nursing and assisted living assets of ABCM; the deal, involving more than two-dozen facilities, was the largest SNF sale ever recorded in Iowa.

Regarding the seven-state portfolio deal that recently closed, 3G’s announcement stated: “The buyer worked closely with the sellers to design a collaborative transition strategy that ensured continuity of care, protected employee and resident interests, and optimized value for both parties.”