International Equity Partners (IEP) added nearly 400 beds to its portfolio of more than 100 care facilities across California through the acquisition of three California skilled nursing facilities: Eskaton Care Center Greenhaven, Eskaton Care Center Fair Oaks and Eskaton Care Center Manzanita. The deal was announced in March 2023, but the California Attorney General approved the sale at the start of September.
Greenhaven is located in Sacramento with 198 beds, Fair Oaks is in Fair Oaks with 149 beds and Manzanita is in Carmichael with 99 beds. IEP purchased the three facilities for $35.6 million, or $89,800 per bed. Cypress Healthcare Group, which operates nine facilities in the Sacramento area, will operate the facilities, with IEP serving as its capital partner. The deal represented Eskaton’s exit from its stand-alone skilled nursing facilities. Ziegler represented Eskaton in the transaction.
