Private equity firm JLM Financial Investments, based in Austin, Tex., acquired a 10-property portfolio of senior care facilities last month for an undisclosed sum.
The portfolio consists of 1,553 beds in both skilled nursing and intermediate care facilities, all of which are located in Illinois. JLM acquired the portfolio from Irvine, Calif.-based Granite Investment Group.
“Using this transaction as a platform, JLM Financial Investments looks to continue their investment in the senior housing sector in both real estate and operations,” said Larry Meyer, JLM’s managing partner, in a statement.
The Austin Business Journal reports that the portfolio had a 90% occupancy rate at time of sale.
Written by Alyssa Gerace