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124-Bed Parklane West Sells to Ensign Group
California-based Ensign Group Inc. acquired the real estate and operations of Parklane West Healthcare Center, a 124-bed skilled nursing, and 17-bed assisted living facility at 2 Towers Park Lane in San Antonio. The seller was American Retirement Corp., which is headquartered in Brentwood, TN. The sales price was not disclosed, with Bexar County assessing the asset at $3.9 million.
Parklane West, which is subject to a long-term ground lease, was 34% occupied at acquisition. “Parklane represents an ideal turn-around opportunity because it combines outstanding physical facilities with a solid core of providers that truly care about the residents and their families,” said Barry Port, Ensign’s COO.
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