IPA Brokers Sale of Skilled Nursing Facility for $18M

by Jeff Shaw

LAKEWOOD, Colo. — Institutional Property Advisors (IPA), a division of Marcus & Millichap Inc. specializing in serving institutional and private real estate investors, has brokered the sale of Bethany Rehabilitation Center, a skilled nursing and short-term rehabilitation facility in Lakewood. The $17.95 million sales price equates to $105,600 per licensed bed


CareTrust, the buyer, entered into a triple-net lease with Eduro Healthcare LLC, which took over operations on Feb. 1.

The 56,502-square-foot Bethany Rehabilitation Center is located at 5301 West 1st Ave. in Lakewood, approximately five miles southwest of Denver and within five miles of the 393-bed Denver Health Medical Center. The property was built in 1969 on four acres, has 170 active beds and is licensed for 50 additional beds.

IPA executive director Mark Myers, IPA senior director Joshua Jandris, and IPA associate director Charles Hilding advised the seller. Richard Bird, vice president and regional manager of Marcus & Millichap’s Denver office is the firm’s broker of record in Colorado. 

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