The Charles 1994 Family Grantor Trust has established itself as the largest skilled nursing facility operator in Virginia, according to the latest Centers for Medicare & Medicaid Services (CMS) data. The trust currently operates 43 skilled nursing facilities across two states, with a significant concentration in Virginia.
Portfolio Overview
Analysis of the most recent CMS data reveals that the trust controls 35 skilled nursing facilities in Virginia and 8 in North Carolina. This substantial footprint makes it the dominant player in Virginia’s skilled nursing sector, where it has focused the majority of its operations. This specialized focus suggests a strategic commitment to the skilled nursing space, potentially positioning the trust to leverage economies of scale in operations and compliance.
Ownership Structure
The ownership structure of the Charles 1994 Family Grantor Trust reveals an interesting pattern. Of the 43 facilities in its portfolio, 42 involve ownership stakes between 5% and 50%, with none showing full ownership or majority control between 50% and 100%. This minority ownership approach may indicate a strategic investment model that spreads risk while maintaining significant influence across multiple properties.
Limited public information is available about the trust itself, which appears to be a private entity likely established for estate planning or asset management purposes. The private nature of the trust makes it difficult to identify key executives or C-suite leadership.
Market Implications
The trust’s concentrated presence in Virginia positions it to navigate the state’s complex regulatory environment, which includes Certificate of Public Need (COPN) laws and a Value-Based Purchasing program that ties Medicaid reimbursements to quality metrics. Virginia’s minimum staffing requirements, which link higher Medicaid reimbursements to facilities providing at least 3.08 hours of daily care per resident, represent a challenge and opportunity for large operators like the Charles 1994 Family Grantor Trust.
In North Carolina, where the trust operates 8 facilities, Certificate of Need laws create barriers to entry that may benefit established operators. For investors and industry stakeholders, the trust’s significant market presence and specialized focus on skilled nursing facilities make it a notable player to watch in the ongoing consolidation of the long-term care sector.
