Summit Healthcare REIT Acquires Interest in Four Skilled Nursing Facilities in Texas for $27M

by Jeff Shaw

GRANBURY, WOODVILLE, JACKSONVILLE and LONGVIEW, Texas — Summit Healthcare REIT Inc. has acquired a 10 percent interest in four skilled nursing facilities located in the cities of Granbury, Woodville, Jacksonville and Longview, Texas, for $27 million in a sale-leaseback transaction.

The facilities consist of a total of 483 licensed beds, and will be leased to a third-party operator.

The acquisition was made through a joint venture between Summit Healthcare Operating Partnership LP, which is wholly owned by the REIT, and Best Years LLC.

Summit is a publicly registered non-traded REIT that is currently focused on investing in seniors housing throughout the U.S.

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