MedEquities Purchases 9 Skilled Nursing Facilities for $133.4M
MedEquities Realty Trust Inc purchased nine skilled nursing facilities in Texas from Gruene Pointe Holdings LLC for $133.4M. Gruene Pointe is a subsidiary of US Freedom Capital and OnPointe Health Management, which will lease back the facilities.
The facilities are spread across the state and include the St. Teresa Nursing & Rehabilitation Center in El Paso and the River City Care Center in San Antonio.
Gruene Pointe plans to close on a 10th location in Graham that will be included in the deal, bringing the total sale price to $145M. The company also owns the Adora transitional care brand. [GS]