Portopiccolo Group Adds to Its Skilled Nursing Portfolio

The Portopiccolo Group has been one of the most active investors in the skilled nursing space in the last couple of years, with four acquisitions in 2019 and three in 2018. It looks like that growth is continuing in a big way into 2020, with the New Jersey-based private equity firm announcing the acquisition of three skilled nursing facilities in North Carolina (2) and Maryland. The acquisition consisted of a total of 450 skilled nursing and 50 assisted living beds. It did not disclose a purchase price, but Oxford Finance secured a $64.6 million term loan and a revolving line of credit. This was the second transaction between Oxford and Portopiccolo, and it may not be the last.

Just last year, Portopiccolo added a facility each to its North Carolina and Maryland portfolios, in addition to three others in Virginia and New Jersey.

 

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