Tryko Partners acquired a 121-bed skilled nursing facility in Norristown, Pennsylvania, in the greater Philadelphia region and is planning a significant capital investment project to the 40-year-old building. Set on five acres, the four-star facility is located about 12 miles from downtown Philadelphia and is within a 10-mile radius of nine short-term acute-care hospitals. It had been previously owned by a faith-based not-for-profit for 50 years, and Timothy Bonjo has been the facility’s administrator for 36 years. It’s not often you see that kind of tenure in this industry.
Planned upgrades to the three-story building, which should cost around $2.5 million, will include physical plant renovations and specialty programming enhancements that will enable the facility to care for more clinically complex residents. Tryko’s subsidiary Marquis Health Consulting will help oversee the new programming. IDB Bank provided acquisition financing for the deal, which is the first closed between the bank and Tryko.
