Fast-growing nursing home operator pays $5.35M for 108-bed Windsor facility
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A 108-bed, 64-room nursing home in Windsor recently sold for $5.35 million to a New Jersey-based nursing home operator with a rapidly growing portfolio.
In a deed recorded Nov. 4, Brooklyn, New York-based Rina Properties LLC sold the 34,612-square-foot, 1965-vintage nursing home building on 8.7 acres at 581 Poquonock Ave. to a limited liability company affiliated with Autumn Lake Healthcare, a Howell, New Jersey-based nursing home operator.
The property last sold for $3.4 million in 2018.
The principal of the buying LLC is Mark Schwartz, of Monsey, New York. Schwartz is also chief operating officer for Autumn Lake, according to a press release issued in October.
Raleigh, North Carolina-based First Citizens Bank announced in October that it provided $338 million in financing to Autumn Lake affiliates for the acquisition of 12 skilled nursing homes in Maryland.
At the time, Autumn Lake’s network included 66 skilled nursing facilities with more than 8,200 beds in Connecticut, Maryland, New Jersey, Wisconsin and West Virginia, according to the release.
An attempt to reach an Autumn Lake representative Wednesday morning was not immediately successful.
The limited liability company that recently acquired the Windsor nursing home also secured a $6.3 million mortgage on the property from New Jersey–based Amboy Bank. The mortgage was recorded on Nov. 4
