Ensign Makes Another Arizona Acquisition

Despite its stated strategy to own more of the real estate in its portfolio of over 230 healthcare properties, The Ensign Group shunned its recent practice and acquired just the operations of a 140-bed skilled nursing facility in Sun City West, Arizona. Reporting 87% occupancy at the time of the sale, the facility will be operated by Ensign’s Arizona-based subsidiary, Bandera Healthcare, while Ensign acquired the operations subject to a long-term lease. The deal brings The Ensign Group’s portfolio to 184 skilled nursing operations, 22 of which include assisted living services, and 51 AL/independent living operations. Of that total, Ensign currently owns the real estate at 67 of the 235 healthcare operations.

As recently as September of last year, the company also acquired two other skilled nursing facilities in Arizona, including an 88-bed facility in Mesa and a 115-bed facility in Tucson, with a combined occupancy of about 68%. Similar to the Sun City West sale, Bandera Healthcare took over operations, but that time Ensign had purchased the real estate too.

 

 

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