Tryko Adds to SNF Portfolio with New Providence Facility
Tryko Partners is expanding its New Jersey skilled nursing facility portfolio and its affiliated Marquis Health Services platform with the acquisition of ManorCare Heath Services-New Providence in New Providence, NJ. Marquis will launch an immediate multi-million-dollar upgrade of the 106-bed facility, which has been renamed Spring Grove Rehabilitation & Healthcare Center.
“Our immediate renovation will take this property to a new level, and we are confident the local market will appreciate the high standards Marquis Health Services maintains for both physical plants and delivery of care,” said Uri Kahanow, director of acquisitions for Tryko.
Tryko purchased Spring Grove Rehabilitation & Healthcare Center from Quality Care Properties in a deal financed by CIBC. Terms were not disclosed.
The acquisition brings Tryko’s Mid-Atlantic SNF portfolio to 11 properties; it also operates 10 across New England. Spring Grove is close to six area hospitals, although two of them provide 90% of its referrals.
For comments, questions or concerns, please contact Paul Bubny