HOUSTON (GlobeSt.com) – California-based Granite Investment Group has acquired five skilled nursing facilities in South Texas via two separate off-market transactions totaling $90.1 million.
The five properties, totaling 684 beds, are leased on a long-term, triple-net basis to Senior Care Centers LLC from Dallas. Four of the facilities were built within the last three years.
HUD bridge financing on the portfolio was provided by GE Capital's Healthcare Financial Services business. Greystone Servicing Corp. Springfield Consulting Services LLC acted as advisor for the transactions.
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