Healthcare Transactions Group Advises on and Closes Sale of 9 Long-Term Care Facility, 1,533 Bed Portfolio

Healthcare Transactions Group, Inc. advised on and closed the sale of a portfolio of nine long-term care facilities, including eight skilled nursing facilities and one assisted living facility, all located in Illinois, within the greater Chicagoland area or central Illinois, totaling 1,533 licensed beds. The transaction also included a licensed renal dialysis center affiliated with one of the skilled nursing facilities and 38 residential retirement apartmentsTerms of the transaction remain undisclosed.

Healthcare Transactions Group, Inc. represented the seller, Kensington Management Group, LLC, Morton Grove, Illinois and its affiliates, the owner and operators of the facilities, one of the most respected, highly esteemed and well-recognized long-term care operators in Illinois. The principal of Kensington has been a longtime active leader in Illinois Health Care Association and is considered the dean and gold-standard of Illinois nursing home providers by his peers. The buyer encompasses affiliates of Formation Capital, LLC. , Alpharetta, Georgia.  Formation Capital will lease the facilities to Nucare Management Corporation, Lincolnwood, Illinois. The transaction closed on December 30, 2011.

The Illinois facilities included Aspen Ridge Care Centre, Decatur; Countryside Care Centre, Aurora; Crestwood Care Centre, Crestwood; Deerbrook Care Centre, Joliet; Maple Crest Care Centre, Belvidere; Maple Ridge Care Centre, Lincoln; McKinley Court, Decatur; Northwoods Care Centre, Belvidere; and Sycamore Village, Swansea.

Formation Capital, LLC invests in senior housing and care and currently is invested in over $3 billion of assets. For more information, go to http://www.formationcapital.com.

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