A not-for-profit owner/operator of skilled nursing and senior care facilities in New Jersey recently acquired a 120-bed facility in Somerset for $12 million, or $100,000 per bed. The buyer, Francis E. Parker Memorial Home Inc., already owns and operates three other skilled nursing facilities in New Brunswick, Monroe Township and Piscataway (the latter two also including memory care services), as well as an assisted living community in Highland Park. The seller was the not-for-profit Saint Peter Healthcare System, which has long had a relationship with Parker. That should make for a smooth transition.
Soft landing for SNF
