O&M Investments Acquires Three-Asset Skilled Nursing Portfolio in Metro Columbus, Ohio

LANCASTER, MARION and CIRCLEVILLE, Ohio — O&M Investments has purchased a three-property skilled nursing portfolio in Central Ohio. A publicly traded REIT and a national operator sold the portfolio for an undisclosed price. The properties are Homestead Center in Lancaster, Presidential Center in Marion and Circleville Center in Circleville.

 

The three facilities were built or expanded in the 1980s and most recently renovated in the early 2000s. The portfolio originally consisted of 302 licensed beds, however Blueprint advised on the decertification of five beds, resulting in 297 combined licensed beds that transferred to the buyer at closing.

“By decertifying a limited amount of licensed beds at each facility, the owner was able to change the facilities’ Medicaid reimbursement Peer Group classification from Large (L) to Small (S) translating to a higher Medicaid rate for the facilities, which is based on the median reimbursement rate of the other facilities within the areas of ‘S’ Peer Group,” explains Michael Segal, managing director with Blueprint.

Segal, Ben Firestone and Connor Doherty of Blueprint facilitated the transaction.