AdCare Buys Three Ala. Senior Care Facilities for $9.5 Million

AdCare Property Holdings, LLC, a subsidiary of AdCare Health Systems, Inc., has agreed to purchase three Alabama senior care facilities for $9.5 million. 

AdCare will acquire Park Place Nursing & Rehabilitation Center located in Selma; Homewood of Selma; and Homewood of Greenville.  

In accordance with the agreement, AdCare Holdings deposited $250,000 into escrow, which will be retained by the sellers and applied against the purchase price.

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The closing of the Alabama portfolio is expected to occur Dec.  31, 2012. The deal is subject to customary closing conditions. 

Written by Jason Oliva

 

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