Marcus & Millichap Sells Bankrupt Nursing Home Portfolio

Marcus & Millichap recently announced the sale of the Highgate LTC Portfolio, a portfolio of skilled nursing facilities with approximately 500 beds located in Central New York State.  The $22.7 million dollar deal consisted of four facilities: Northwoods at Cortland, located in Cortland; Northwoods at Hilltop, located in Niskayuna; Northwoods at Rosewood Gardens, located in East Greenbush; and Northwoods at Troy, located in Troy.


“We are pleased to have finally brought resolution to this complex bankruptcy sale,” said Jacob Gehl of Marcus & Millichap in a statement. “The Highgate portfolio fulfills an important mission in Central New York not only providing care for the elderly but also providing pediatric programs that save the lives of very ill children. We are hopeful that the conclusion of the bankruptcy sale will enable the staff and residents to get back to the important work of caring for the residents both old and young.”