Hats off to Vita

Already with three skilled nursing facilities in the state of New York, Vita Healthcare Group (which is based in New Jersey) has in the past seven months worked to grow its presence in the Mid-Atlantic region. Back in June 2015, the company purchased two facilities with 256 total beds in the towns of Columbia and Elizabeth, Pennsylvania for $18.3 million, or $71,445 per bed. Now, Vita has acquired a 140-bed facility in Hatboro (Philadelphia MSA) for an undisclosed price. Both transactions featured strikingly similar facilities. The Columbia and Elizabeth facilities were built in 1978 and 1968, respectively, and were 86% and 79% occupied, respectively. Meanwhile, the Hatboro facility was built in 1976/77 and was 83% occupied. Also, in both cases, Vita purchased the last senior care assets (or the last Pennsylvania assets of the June 2015 seller) of the owner/operator sellers.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *