Two years after launching real estate investment and management firm Mozart Healthcare in 2016, co-founder Archie Shkop decided to start a skilled nursing operating company. “I started realizing that as much as I knew operations, I needed to be in the thick of it with my tenants to understand the challenges they were facing,” Shkop […]
Mozart Healthcare
Following several years of strong growth after its initial launch in 2016, Mozart Healthcare took what was supposed to be a temporary year-long pause on the acquisition market in 2019 but like many companies had to change plans in 2020 due to COVID-19. Now heading into 2022, the Skokie, Ill.-based long-term care provider plans to […]
As nursing homes continue to see a high turnover rate among registered nurses, licensed practical nurses and certified nursing assistants, operators continue to do anything they can to keep staff, including offering pay increases, incentives and educational benefits. Some leaders in the industry see the international staff pool as the sector’s best chance to get […]
Mozart Healthcare was going to be a different kind of skilled nursing landlord. This was in 2018, before the viability of the traditional setup for operators and their real estate investment trust (REIT) landlords started to come into question publicly. The goal was to work closely with operator tenants, rather than being a distant entity […]
CareTrust REIT (Nasdaq: CTRE) this week announced the $49.3 million acquisition of four skilled nursing facilities in California operated by Covenant Care, Inc. The 503-bed portfolio comes to the San Clemente, Calif.-based real estate investment trust (REIT) through a sale-leaseback arrangement, with initial annual cash lease payments of $4 million and a 15-year term. The […]
Mozart Healthcare acquired seven skilled nursing facilities in Texas with 1,004 beds, for $32 million, the Skokie, Ill.-based company announced this week, adding to its presence in the Lone Star State. The facilities were acquired from a national operator, which was not disclosed. The transaction is the fifth deal Mozart has closed in the state, as […]
Diversicare To Sell Three Kentucky Facilities for $18.7M Executives with the operator Diversicare Healthcare Services Inc. (Nasdaq: DVCR) signed an agreement to sell three Kentucky properties for a combined $18.7 million, Nashville Post reported. The sales are expected to close in the fourth quarter, and will cut Diversicare’s footprint in the state to 10 facilities. The […]
As multiple skilled nursing tenants struggle to pay their real estate investment trust (REIT) landlords, a Chicago-based real estate management company is looking to change the model of skilled nursing leases by getting its operators to see it as a partner. For Mozart Healthcare, the goal is to be “on the ground with our operators,” […]
Greystone Real Estate Advisors Closes $6.3M SNF Sale in Texas Greystone Real Estate Advisors closed the sale of Nazareth Living Care Center, which was purchased by Chicago-based Mozart Healthcare, LLC for $6.3 million. Nazareth Hall, a non-profit Texas corporation, was the seller. The skilled nursing facility in El Paso, Texas, has 124 licensed beds, and Paramount Healthcare […]
Ohio Skilled Nursing Facility Sold for $7.5M An Ohio skilled nursing facility (SNF) is under new management after being sold for $7.5 million by Kettering Health Network, a hospital system based in Dayton, Ohio, the Dayton Daily News reported. The former Greene Oaks Retirement Center, now called Harmony Center for Rehabilitation & Healing, was purchased by […]
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