|
7/16/15
|
Irvine-based Granite Investment Group purchased five skilled nursing facilities in South Texas via two separate off-market transactions that totaled $90.1 mil. With these acquisitions, Granite Investment Group now manages a portfolio of senior care facilities valued at approximately $540 mil, including 4,442 licensed beds.
Totaling 684 beds, the five properties just acquired are leased on a long-term triple net basis to Dallas-based Senior Care Centers LLC, one of the largest skilled nursing home operators in Texas. Four of the properties were built within the past three years.
The facilities collectively offer: long-term care, respite services, short-term therapy, ventilator care, open and closed tracheotomies, dialysis, orthopedic and stroke/cardiac recovery, a re-hospitalization reduction program and wound care. They also provide rehabilitation services, including occupation, physical, speech, respiratory and IV therapy.
Together, the skilled nursing facilities provide a range of amenities, including activity rooms, Wi-Fi, flat-screen televisions, selective dining menus, and onsite beauty and barber shop services. Each facility features an outdoor courtyard.
HUD bridge financing for the deal was provided by GE Capital's Healthcare Financial Services business and Greystone Servicing Corporation Inc. Springfield Consulting Services LLC acted as advisor for the transactions.
|
|
Return to the Archive page
|
|
|
|
|