Another SNF in Lifehouse's Portfolio Sold to Reliant Management Group
The Deal for the Skilled Nursing Facility Closed on July 1, 2016
Agoura Hills, CA -- (SBWire) -- 07/19/2016 --Riverside Healthcare Center was sold to Reliant Management Group in a lease purchase transaction for $13.1 million. The 188-bed Skilled Nursing facility (SNF) was one of nine communities throughout California that had been operated by Lifehouse Healthcare Services.
With the assistance of Shep Roylance of JCH Senior Housing Group, Lifehouse has been diversifying their portfolio over the last year. Riverside, in particular, has had a troubled past, finding itself on the Specialty Facility Focus (SFF) list for over 47 months. Reliant Management Group successfully graduated Riverside Healthcare Center off the SFF list and exercised its option to purchase the facility in early June 2016. The transaction closed on July 1, 2016.
Located in Riverside, California, this facility is situated on nearly 4 acres and features several one-story buildings, all of which have served different purposes in the past. Over the years, the site has grown to span nearly 40,000 square feet and has 188 licensed beds. Constructed in 1969, Riverside provides a full range of nursing care, rehabilitation care, social services, and support services.
It should be noted that Roylance represented both Lifehouse and Reliant Management Group during this transaction. Reliant Management Group focuses on skilled nursing facilities, long-term acute care hospitals, rehabilitation hospitals, and continuing care communities throughout the United States.
In his capacity as Senior Vice President of JCH Senior Housing Group, Roylance specializes in the acquisition and disposition of skilled nursing, assisted living, Alzheimer's care, and continuing care residential facilities. Roylance's knowledge and expertise covers the entire spectrum of the senior housing market. He commented on the acquisition of Riverside, saying "Adding another prominent California facility to our ever-expanding West Coast portfolio is a great step in the right direction, and we are excited to see what will come down the pipeline next."
Furthermore, his knowledge and experience in the intricacies of the bankruptcy court is invaluable in his execution of transactions of facilities in bankruptcy. Although Roylance services individual owner/operators and regional and nation healthcare providers alike, he specifically targets the representation of institutional investor's health care portfolios in part or in entirety. His judicious representation of both buyers and sellers in the senior housing market has earned him an outstanding nationwide reputation.
About JCH Senior Housing Group
The JCH Senior Housing Group team specialize in providing comprehensive financial, investment, and portfolio analysis of all types of senior housing facilities, from residential care facilities to nursing homes and assisted living facilities. For those interested in putting a senior living property up for sale, JCH will provide a detailed analysis of the facility, including the potential upside of selling, as well as a sales price range and exit strategy. They also offer access to qualified buyers currently in the market, allowing customers to find the right individual(s) to sell their facility to. As nursing home brokers, they will act as an intermediary to facilitate agreements between both parties.
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Owner and Founder
JCH Senior Housing Group
View this press release online at: http://rwire.com/706543