Jeffrey Vegh and Joe Schiff of Forest Healthcare Properties were brought on by a not-for-profit in their divestment of a skilled nursing facility with an assisted living component. The facility comprises 99 SNF beds and 28 AL units in Cincinnati, Ohio, and at the time of marketing occupancy was hovering around 80%. The building is on the older side, but it has been renovated since opening. However, it was not performing well. Navigating this tough capital markets environment, Vegh and Schiff secured a local buyer. The for-profit, Ohio-based operator with several locations in the area has the opportunity to make several changes on the expense side to bring the facility to breakeven.
From Not-For-Profit to For-Profit
