Tryko Partners acquires three Va. nursing facilities
The company plans to invest $9M in renovations and programming at the nursing homes.
New Jersey-based property management company Tryko Partners LLC has acquired three Cambridge Healthcare Services nursing facilities in Virginia and plans to invest approximately $9 million in renovations and programming at the facilities, Tryko announced Monday.
Financial terms of the transaction were not disclosed.
The facilities include the 307-bed Woodbine Rehabilitation & Healthcare Center in Alexandria, the 190-bed Canterbury Rehabilitation & Healthcare Center in Henrico County and the 66-bed Westmoreland Rehabilitation & Healthcare Center in Colonial Beach. Each facility offers post-hospital care, short-term rehabilitation and long-term residential care and employs Tryko Partners’ healthcare affiliate Marquis Health Services for nursing home services. Marquis offers skilled nursing beds, assisted living beds and independent living units.
The Woodbine facility located at 2729 King St. is 94,000 square feet and sits on approximately four acres. The two interconnected buildings of the Woodbine facility have private units, semi-private units and a ventilator unit.
The Canterbury facility is located at 1776 Cambridge Dr. in Henrico County. The two-story building is 69,358 square feet on five acres. It has private and semi-private rooms.
The Westmoreland facility is located at 2400 McKinney Blvd. in Colonial Beach. The one-story building is 25,000 square feet and has three patient wings with private rooms, semi-private rooms and a rehabilitation wing.
“This purchase marks our foray into Virginia, and the combined, 563-bed count has enabled us to immediately establish a significant footprint in this desirable market,” Uri Kahanow, Tryko Partners’ director of acquisitions, said in a statement. “For us, this region is a natural progression, given that we have a well-established skilled nursing presence in Maryland and other key mid-Atlantic markets to the north.”
Buffalo, New York-based M&T Bank provided purchase financing for the acquisition.
Tryko Partners was founded in 1989 and purchases multifamily properties and tax liens on the Eastern Seaboard and the Midwest.