With most of its acquisitions located between Maryland and Massachusetts, New Jersey-based Tryko Partners has expanded its reach into Virginia with the purchase of three skilled nursing facilities with a total of 563 beds. They are located in Alexandria, Richmond and Colonial Beach, and represent the company’s first acquisition in the state.
No purchase price was disclosed, but historically Virginia has been a relatively high-priced market, with an average price per bed over the past five years north of $100,000. That kind of state details will be in our soon-to-be-published Senior Care Acquisition Report.
Tryko plans on investing close to $9 million across the three properties, which is something they have done with nearly every acquisition. At $16,000 per bed, we suspect that it will help reposition the facilities if that is needed. As usual, Tryko will have its affiliate Marquis Health Services operate the facilities. M&T Bank provided the purchase financing for Tryko, with Christian Montgomery leading the charge.
Tryko now operates nearly 4,500 skilled nursing and assisted living beds and more than 2,000 independent living units.
