New Jersey-based private equity firm Tryko Partners, just added a third Pennsylvania property to its portfolio in a deal handled by Toby Siefert and Ryan Saul of Senior Living Investment Brokerage. Located near Philadelphia, the 129-bed skilled nursing facility was built in 1995 but recently received $1 million in capital improvements while under management by a national operator. In those projects, a new 1,500-square foot therapy space was added. Operations were solid, with an operating margin above 10%, a 95% occupancy rate and a quality mix above 35%.
Like in all of its senior care transactions, Tryko will have its in-house operating company, Marquis Health Services, manage the facility. The purchase price, which was not disclosed, did not include the underlying real estate, which was leased from a local hospital.