BRICK, NJ—Locally-based Tryko Partners LLC has added five skilled nursing facilities in Massachusetts to its portfolio. The two acquisitions and lease deal for three more properties with Chicago-based Ventas, Inc. adds 470 beds to its growing portfolio.
The three facilities leased by Tryko from healthcare REIT Ventas will continue to be operated by Tryko. The deals now bring the company's skilled nursing bed assets to more than 2,000 in the state of Massachusetts. No financial terms of the purchase and lease transactions were released. Financing for the two property acquisitions was provided by The PrivateBank.
"These properties are a great addition to our skilled nursing portfolio,” says Uri Kahanow, director of acquisitions for Tryko Partners. “We have been building our senior management team with seasoned operations, financial and marketing professionals with the goal to take on portfolios of assets. Today, we have the people and resources in place to grow exponentially. This is an exciting time for our company.”
The acquired properties include the 88-bed Hammersmith House Nursing Care Center in Saugus, MA, which will be renamed Chestnut Woods Rehabilitation and Healthcare Center; and the 87-bed Hillcrest Nursing and Rehabilitation Center in Fitchburg, Ma, which will be renamed Valley Stream Rehabilitation and Healthcare Center.
Ventas-owned properties to be operated by Tryko include the 132-bed Blueberry Hill Skilled Nursing and Rehabilitation Center in Beverly, MA; the 82-bed River Terrace Rehabilitation and Healthcare in Lancaster, MA; and the 81-bed Oak Wood Rehabilitation and Nursing Center in Webster, MA, which will be renamed Brookside Rehabilitation and Healthcare Center.
Last fall, Tryko acquired the Brentwood Rehabilitation and Healthcare Center in Danvers, MA from Ventas.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
