Atlas Healthcare, a skilled nursing provider based in central New Jersey, acquired a portfolio of 3 senior care properties in the greater Hartford, Connecticut area. Evans Senior Investments represented them in the transaction.
Featuring one independent living community and two skilled nursing facilities in Manchester and Vernon, the portfolio totals 114 independent living units and 246 skilled nursing beds. Prior to the pandemic, the properties were 92%+ occupied and featured a strong post-acute rehab census mix within the skilled nursing portion. But operations took a hit, and the portfolio overall was losing money. Paul Liistro, CEO and administrator of the three properties, sold the portfolio for a combined $35 million, or $97,000 per bed/unit.
