Maryland Acquisition Update

Maryland Acquisition Update

We previously reported on the sale of two skilled nursing facilities in Maryland, but had few details. Now we do. Both facilities are located in Baltimore and have a total of 307 beds, one with 225 beds with a 16-bed ventilator care unit which was built in 1990 and 1996, and the other with 82 beds, which was built in 2004. All things considered, these can be considered to be fairly new. The seller, Brinton Woods Management Company, did a very good job operating these facilities, which had a four-star and five-star CMS rating. In addition, overall occupancy was 92.5%, and they operated with a 13.4% margin in 2018, not too bad in today’s environment. Actually, quite good. Revenues in 2018... Read More »