Struggling nursing home operator Athena Health Care recently sold two Torrington facilities for $21.94 million.
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Struggling nursing home operator Athena Health Care recently sold two Torrington facilities for $21.94 million, continuing a spree of offloading assets that saw it sell at least 10 Connecticut properties last year.
In separate deeds recorded by the city on May 21, companies tied to Farmington-based Athena Health Care sold the 160-bed and the 151-bed Valerie Manor nursing facilities in Torrington to a Hewlett, New York investment company.
The limited liability companies that bought the facilities are both tied to Hewlett, New York-based Vantage Point Capital.
“We are experienced and active healthcare investors with an extensive and varied portfolio across the United States,” reads a portion of Vantage Point’s website. The company says its strategy focuses on acquisition and triple net leasing of purpose-built assets within areas of favorable demographics and supportive regulatory environments.
With average life expectancy at historic highs and continuing to rise, healthcare investments offer “stable and unparalleled returns,” Vantage Point reports.
According to land records, Vantage Point immediately leased the two Torrington facilities to Lakewood, New Jersey-based Havencare MT LLC.
Athena sold at least 10 of its Connecticut facilities last year and moved to close others.
Attempts to reach Athena and Havencare representatives were not immediately successful Monday.
Litchfield Woods is a three-story, 75,562-square-foot facility built in 1987 on 7.3 acres at 255 Roberts St. It sold for $11.63 million.
Valerie Manor is a two-story, 74,041-square-foot facility completed in 1984 on 7.6 acres at 1360 Torringford St. It sold for $10.31 million.
Both deeds were signed on April 21, but recorded a month later.
