Genesis Healthcare may be exiting Texas right now, but Chicago-based Mozart Healthcare doubled down in the Lone Star State, acquiring a 124-bed skilled nursing facility in El Paso to complement its three existing SNFs (located in Winnsboro, Kennedale and San Augustine) in the state. The new addition is the company’s first in West Texas, and it is in need of an operational turnaround. The facility consists of two buildings: one with 74 beds built in 2013, and a vacant building built in 1960 with 50 inactive licensed beds. The not-for-profit seller maintained census around 90% based on operational beds, but cash flow was negative.

Mozart and incoming operator, Dallas-based Paramount Healthcare, will look to change that, planning on renovating and re-opening the vacant building to start. The facility sold for $6.3 million, or $50,800 per licensed bed and $85,100 per operational bed, with Mike Garbers and Cody Tremper of Greystone Real Estate Advisors representing the seller in the transaction.