AdCare Property Holdings, LLC, a subsidiary of AdCare Health Systems, Inc., agreed on Jan. 17 to acquire a 141-bed skilled nursing facility located in Lonoke, Ark. for an aggregate purchase price of $6,486,000, subject to the terms and conditions of the ConvaCare purchase agreement.
The purchase is expected to close on March 1, 2012, although AdCare may extend the closing until March 31, as it is subject to customary closing conditions, indemnification provisions and termination provisions.
The seller is Gyman Properties, LLC.
Written by Alyssa Gerace