Healthcare Transactions Group managed to sell not only the operations of a 230-bed skilled nursing facility in Washington, D.C., but also a home health agency and a nursing school too. Annual revenues for the combined business totaled about $25 million, and census at the SNF was nearly full, at 98%. Also based in D.C., the home health agency is licensed for both Medicare and Medicaid patients, and the nursing school primarily trains CNAs and home health aides. That must help with staffing, which in turn may help in maintaining that 98% occupancy.
The buyer, a Brooklyn, New York-based regional operator with several other skilled nursing facilities in Washington, D.C., did not purchase the real estate but will continue to lease from the city.