Search
 

JER, Formation Capital Acquire Tandem for $620M

MCLEAN, VA—There are 77 facilities in Tandem's portfolio, which the consortium plans to reposition as skilled nursing and other senior housing facilities.

By Erika Morphy | Updated on July 12, 2006

MCLEAN, VA-JER Partners, the private equity investment arm of J.E. Robert Cos., has strengthened its hand in the healthcare real estate asset class with the $620-million acquisition of Tandem Health Care, Inc., a provider of long-term healthcare services in Maitland, FL.

JER Partners acquired the 77-facility portfolio from Behrman Capital, a private equity investment firm in New York and San Francisco, under a consortium relationship with Formation Capital LLC, an operator and investor in senior housing based in Alpharetta, GA, and Jenkintown, PA.

JER and Formation plan to restructure Tandem into an owner of skilled nursing and other senior housing facilities. Tandem’s senior management will maintain operational control of the facilities through a joint venture formed between Joe Conte, Tandem’s president and COO, and CFO Gene Curcio, called Consulate Healthcare.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.