Mozart Healthcare is on the move in the Old Northwest. Last month, the company acquired a 145-unit mid-rise independent living community last month in Allen Park, Michigan (Detroit MSA), in a transaction led by Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors. Now, the firm, which is headed by Benjamin and Archie Shkop, has added two more skilled nursing facilities in Ohio to its portfolio. These recent deals were the fifth and sixth acquisitions for Skokie, Illinois-based Mozart, which was founded in 2016.
The Ohio facilities were built in the 1990s in major metro areas and feature good physical plants. They were, however, deemed to be non-core by the not-for-profit seller, which decided to focus on its core businesses outside of the skilled nursing market. In an all-cash transaction, Mozart paid approximately $65,000 per bed for the two facilities, which will be leased to an Ohio-based operator. Chad Elliot and Kevin Laidlaw of Lancaster Pollard handled the Ohio transaction.
