Yuma Skilled Nursing Facility
Category: Full-Cycle Investments
Yuma Skilled Nursing Facility is a single-story, 143-bed facility originally built in 1964 and currently undergoing a multi-million dollar renovation to improve the approximately 40,000-square-foot building’s façade, lobby and flooring, as well as add services to the facility, including a newly constructed rehabilitation center. The renovation, which is expected to cost approximately $3.5 million, is being paid for by Kissito Healthcare, the operator of Yuma Skilled Nursing Facility, which has agreed to a new lease that will run through April 30, 2026 with two additional ten-year renewal options.
Kissito Healthcare is the same operator of the five skilled nursing facilities that comprise the Virginia Skilled Nursing Facility Portfolio, which Griffin-American Healthcare REIT II purchased in September 2010. As a result of the Yuma acquisition, the REIT was able to extend through 2026 the leases of the facilities in the Virginia portfolio.