ROCKVILLE, Md. — Private equity investor Tryko Partners has acquired Collingswood Rehabilitation & Healthcare Center, a 160-bed skilled nursing facility in Rockville, for an undisclosed price.
Marquis Health Services, Tryko’s healthcare affiliate, has assumed operations of with plans to launch a $4.5 million renovation and programming expansion.
Collingswood provides post-hospital care, short-term rehab and long-term residential care, and maintains a five-star rating from the Centers for Medicare & Medicaid Services (CMS). It is situated on 4.8 acres in Montgomery County, approximately 18 miles northwest of Washington, D.C.
“We are well-established in Maryland, particularly the Baltimore area, and this acquisition is an ideal opportunity to enter the Montgomery County market,” says Uri Kahanow, Tryko’s director of acquisitions, who spearheaded the purchase with the firm’s Chris Welsh.
Marquis’ renovation of Collingswood Rehabilitation & Healthcare Center will focus on creating a modern, hospitality-focused environment for patients and staff. Anticipated improvements include the addition of approximately 30 private rooms and expansions of the therapy gym and common spaces, such as the dining areas and day rooms.
Collingswood was originally developed in 1973 and expanded in 2000. During the last four years, the previous owner invested $1.2 million in improvements including upgrades to a safety sprinkler system, HVAC units and flooring.
M&T Bank provided an undisclosed amount of acquisition financing for the transaction.