Mid-Atlantic Health Care Makes An Exit

Mid-Atlantic Health Care Makes An Exit

Mid-Atlantic Health Care is exiting the skilled nursing market with the sale of its eight remaining facilities in Pennsylvania. The company was still growing its portfolio (which at one point numbered over 20 facilities) as recently as December 2015, so this move, and its sale of 14 skilled nursing facilities late last year, marks a precipitous divestment. Back to the June 2017 deal, while the real estate will continue to be owned and leased by Colony NorthStar (the REIT product of the merger between Colony Capital and NorthStar Asset Management Group), Mid-Atlantic sold the operations to Lakewood, New Jersey-based Mima Healthcare. Five of the facilities are located in Philadelphia (three... Read More »