The Ensign Group acquired the underlying real estate of a portfolio of 15 Wisconsin assisted living communities nearly a year and a half after taking over the operations under a lease. Formerly owned by Harmony Living Center, LLC, these communities feature a total of 687 units and a combined occupancy of 83%. Ensign financed the purchase with cash from its revolver, and Ziegler handled the transaction, which did not come with a disclosed price. This move reflects a desire of Ensign to own a larger share of its operating portfolio, especially after it spun off many of its real estate assets into CareTrust REIT in 2014. Now, Ensign owns the underlying real estate in 50 of its 209 operations. We expect to hear much more from Ensign, already a prolific buyer, throughout 2017.
Ensign Expands
