$17.3M Refi for New Jersey SNF; $180M Redevelopment Includes 102 Skilled Units

Lancaster Pollard provided a $17.3 million loan insured by the Department of Housing and Urban Development to refinance Willow Springs, a skilled nursing facility in Brick, N.J. Tryko Partners was the borrower, having purchased the community from NuVision Management in 2013, REBusinessOnline reported. The facility had 148 skilled nursing beds and an assisted living (AL) […]

Dwight Capital’s $13M Bridge Loan in Ohio; Marquis & Tryko Expand in Maryland

Tryko Partners on Friday announced the acquisition of Collingswood Rehabilitation & Healthcare Center in the Washington, D.C. suburb of Rockville, Md. The Brick, N.J.-based private equity firm installed its health care affiliate, Marquis Health Services, as the new operator, with plans for $4.5 million in capital improvements and new programming at the site. The 160-bed […]

Private Equity Must Be Nimble, Innovative to Succeed in Skilled Nursing

Tempted by demographic trends and a new reimbursement system, private equity has taken a keen interest in the skilled nursing industry over the past year. But executives at these investment vehicles would be foolish to think they can plug their existing models into nursing home business and expect the same kind of success they may […]

As Underperforming Skilled Nursing Assets Sell, Private Equity Makes a Move

Amid all the shakeups in the post-acute and skilled nursing sector, private equity funds and others have seen an opportunity to move into the space — and they haven’t hesitated to take advantage. Much of the focus for private equity and institutional investors has been on senior housing, according to an August report from Fitch […]

Tryko Adds ManorCare Building in New Jersey; Sale-Leaseback in Chicago

Interra Brokers $6M Sale-Leaseback of SNF in Chicago’s West Loop Interra Realty brokered the sale-leaseback of Chicago skilled nursing facility Monroe Pavilion, located in the city’s West Loop, for $6 million, REBusinessOnline reported. The buyer, JK Equities, was represented by David Goss and Lucas Fryman of Interra. The seller, Symphony Post Acute Network, was represented by Jon […]

Tryko Partners Acquires Two Baltimore SNFs, Plans Multimillion Upgrades

Tryko Partners acquired two skilled nursing facilities totaling 254 beds and plans to launch renovations and programming expansions at both properties. Marquis Health Services, Tryko’s health care affiliate, has assumed operations of the facilities. Tryko is a private equity group based in Brick, N.J., while Marquis has 10 SNFs in the Mid-Atlantic region, with additional […]

Central Arkansas Gets First Green House; HUD Loan for Tryko Facility

Housing & Healthcare Finance Closes on HUD Loan for Tryko Facility in PA The Washington, D.C.-based Housing & Healthcare Finance closed on a 232/223(f) Department of Housing and Urban Development (HUD) loan for New Eastwood Healthcare & Rehabilitation Center. The 97-bed skilled nursing facility in eastern Pennsylvania is owned by Tryko Partners, which acquired it in […]

Maryland Nursing Home Sells for $15M, Developer Eyes Office Conversion in NJ

Pennsylvania ManorCare Facility Purchased by Tryko Partners Brick, N.J.-based private equity group Tryko Partners purchased ManorCare Health Services at Mercy Fitzgerald Hospital in Yeadon, Penn., The Philadelphia Inquirer reported. The 129-bed nursing home was renamed Providence Rehabilitation and Healthcare Center at Mercy Fitzgerald. The price was not disclosed, but Tryko said it is planning a $2.5 million renovation […]

In the Pipeline: Garden State SNF Completes $3.5 Million Facelift

Construction: Complete New Jersey SNF Unveils $3.5 Million Upgrade Private equity firm Tryko Partners and its operating affiliate Marquis Health Services have completed a multi-million dollar renovation of the 215-bed Oakland Rehabilitation and Healthcare Center in Oakland, New Jersey (pictured above). The work includes a newly renovated 3,500-square foot gym that includes a smart car […]

SNF Operator Inks Rehab Partnership to Drive ACO Success

Some skilled nursing providers have been wary of accountable care organizations (ACOs), payment and care delivery models that some fear will push more and more potential residents into home health care to save money. But one East Coast operator has found success under the ACO model, and entered into a partnership with a third-party rehabilitation […]

Transactions: Grand Healthcare Buys Ninth N.Y. SNF

Grand Healthcare System Buys SNF in Valatie, New York The Grand Healthcare System, based in Whitestone, New York, purchased the 236-bed Barnwell Nursing and Rehabilitation Center, the Times Union reported. Grand purchased the Valatie, New York facility from Cassena Care, bringing Grand’s SNF total in New York to nine. Documents from New York’s Health Department indicated that entities linked to […]

In the Pipeline: South Dakota Gets First New SNF Since 1988

Construction: In progress Illinois Community to Offer Short-Term Rehab A forthcoming senior living and nursing facility in Huntley, Illinois, will offer short-term rehab when it opens in December. The 110-bed Alden Estates of Huntley is part of a $51 million project from Alden Realty Services, the Northwest Herald reported. The project will also have independent living, assisted living […]

Skilled Nursing Transactions: Cascadia Now Largest Post-Acute Operator in Idaho

Cascadia Healthcare Becomes Largest Post-Acute Operator in Idaho Cascadia Healthcare announced several transactions that made the Eagle, Idaho-based post-acute health care company the largest such operator in the state. Cascadia of Nampa, a 99-bed transitional care facility in Nampa, Idaho, opened most recently. In addition, Cascadia expects to open a similar construction facility in Boise, Idaho, early next […]

In the Pipeline: Marquis Plots $5 Million SNF Upgrade in Boston

Construction: Announced Marquis Health Services Plans $5 Million Renovation at Boston SNF Marquis Health Services, the healthcare affiliate of Tryko Partners, is now operating North End Rehabilitation and Healthcare Center in Boston, according to a press release. The first order of business at the newly acquired skilled nursing facility (SNF) is a $5 million renovation […]