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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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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