Mozart Healthcare Achieves Nursing Home Workforce Wins with ‘R&D’ Mentality, Owner-Operator Alignment

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 […]

As Stimulus Runs Dry, Mozart Healthcare Looks to Expand into New States

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 […]

Nursing Homes See Solutions Overseas to Continued Workforce Woes

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 […]

CareTrust’s $43.9M Deal in California; Invesque’s $70M Portfolio Sale in Georgia

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 Acquires Seven Texas SNFs for $32M in Lone Star Expansion

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 Divests Three Kentucky Properties; Greystone’s $20.9M HUD Financing

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 […]

Lancaster Pollard Secures $23.1M Refi; Drug Rehab Moves into Nursing Home

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 […]

Skilled Nursing Transactions: Strawberry Fields Picks Up Louisville SNF

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 […]