Grace Healthcare Exits Western Markets with $15.3M Sale of Three Colorado Skilled Nursing Facilities

by Jeff Shaw

PAONIA, GLENWOOD SPRINGS and ROCKY FORD, Colo. — Seniors housing owner/operator Grace Healthcare has officially exited all Western U.S. states with the $15.3 million sale of its final three skilled nursing communities in Colorado.

Evans Senior Investments negotiated the sale to an undisclosed California-based investor. The price equates to $67,700 per bed. The new owners will lease the properties to a new operator that already has a presence in Colorado.

The three properties are Paonia Care and Rehab Center in Paonia, Grace Healthcare & Rehab in Glenwood Springs and Pioneer Health Care Center in Rocky Ford.

Located on the Western Slope in Colorado, Paonia Care and Rehab Center is approximately 70 miles from the city of Grand Junction. The facility features 60 beds in a 16,424-square-foot, single-story building.

Located 80 miles southwest of Aspen, Grace Health & Rehab is located on 1.5 acres and features 54 skilled nursing beds and 16 assisted living beds.

Pioneer Health Care Center community features 94 beds on 4.1 acres. The 36,842-square-foot community offers memory care and rehabilitative care.

In June, Grace announced it had sold all its remaining California and Arizona properties in a $14.7 million deal, also negotiated by Evans Senior Investments.

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