Healthcare Transactions Group Facilitates Sale of 9 Illinois LTC Facilities

Healthcare Transactions Group, Inc., based in Baltimore, Md., announced that it closed the sale of an Illinois long-term care facility portfolio on Dec. 30, 2011.

The portfolio includes eight skilled nursing facilities and one assisted living facility, located mainly in the greater Chicagoland area and in Central Illinois, for a total of 1,540 beds. The sale also included a licensed renal dialysis center and 38 residential retirement apartments, with a total portfolio price ranging between $95 million and $100 million, plus undisclosed contingent considerations.

The seller is Morton Grove, Ill.-located Kensington Management Group, LLC and its affiliates, represented by Mark Davis, president of Healthcare Transactions Group. The buyer encompasses affiliates of Formation Capital, LLC, based in Alpharetta, Ga., who will lease the facilities to an affiliate of Nucare Management Corporation, based in Lincolnwood, Ill. Kensington Management Group had both owned and operated the facilities prior to the sale.


The facilities include Aspen Ridge Care Centre, in Decatur; Countryside Care Centre, in Aurora; Crestwood Care Centre, in Crestwood; Deerbrook Care Centre, in Joliet; Maple Crest Care Centre, in Belvidere; Maple Ridge Care Centre, in Lincoln; McKinley Court, in Decatur; Northwoods Care Centre, in Belvidere; and Sycamore Village, in Swansea. At the time of the transaction, the overall occupancy rate was 86%.

Written by Alyssa Gerace