"We are excited about this property and what the improvements will achieve, specifically," says Norman Rokeach, director of nursing home operations for Marquis Health Services. "We will be bundling a first-class environment with our trademark customer service and the outstanding patient care already in place at Coral Harbor."

Rokeach, who for many years served as a skilled nursing home administrator in the local market, says Marquis Health Services' existing relationships within the regional healthcare community will be instrumental in the expansion and new development of programs at Coral Harbor.

The acquisition was financed through Chicago-based Private Bank.

"This is our eighth skilled nursing facility financed with Private Bank," says Tryko's Chad Buchanan, chief investment officer. "This organization has become a valued partner of ours – one that continues to support our strategic portfolio growth."

The purchase reflects Tryko Partners' active expansion strategy. "We have been aggressively seeking opportunities in New Jersey and feel strongly about growing Tryko's presence in our home state," says the firm's Chris Welsh, who was instrumental in sourcing the Coral Harbor transaction. "We look forward to targeting additional acquisitions here in 2016."

Tryko Partners owns more than 2,000 skilled nursing beds, and also invests in multifamily properties (its portfolio includes more than 7,200 rental units) and tax liens along the Eastern Seaboard and in the Midwest.