ZEELAND, FREMONT, FENTON, OVID and WAYNE, Mich. — Marcus and Millichap has arranged the sale of five skilled nursing facilities in Michigan in three separate transactions. The prices were not disclosed.
In the first transaction, Providence Life Services sold Providence Healthcare & Rehabilitation Center of Zeeland, a 143-bed skilled nursing facility in Zeeland. Mark Myers, Charles Hilding and Joshua Jandris with IPA, a division of Marcus & Millichap, represented the seller. Illuminate HC acquired the property and will rename it SKLD, pronounced “skilled.”
Myers, Hilding and Jandris also represented the undisclosed seller for the remaining properties, located in Fremont, Fenton, Ovid and Wayne. The portfolio totals 393 beds.
A Michigan operator using REIT financing acquired the Fremont, Fenton and Ovid facilities. A local owner-operator from Detroit acquired the Wayne facility. All four properties are older and in need of capital improvements, so were sold as a value-add opportunity.