Virginia Skilled Nursing Facilities Portfolio
Category: Skilled Nursing Facilities
The Virginia Skilled Nursing Facility Portfolio is comprised of seven skilled nursing facilities located throughout Virginia. Totaling approximately 230,000 square feet, the portfolio offers an aggregate of 563 beds. Six of the buildings are dedicated skilled nursing facilities, while the seventh building devotes two-thirds of its beds to skilled nursing patients and the remaining beds to assisted living.
As the U.S. population continues to age, demand for skilled nursing facilities should continue to grow. Additionally, significant regulatory hurdles create barriers to entry in this sector and a resulting constrained supply of competitor facilities.
Laurel Health Care Company and Kissito Healthcare operate the facilities which were constructed between 1989 and 2004 and are under long-term absolute net leases.