Tryko Acquires Rock Glen Nursing and Rehabilitation Center
Baltimore Purchase Marks Firm's Entry into Maryland Skilled Nursing Market.
- Baltimore, MD (1888PressRelease) July 03, 2014 - Tryko Partners, LLC has expanded its skilled nursing portfolio into the Maryland market with the purchase of Rock Glen Nursing and Rehabilitation Center in Baltimore. The 120-bed asset is located at 10 North Rock Glen Road.
"We have been looking for opportunities in the Maryland market for some time, but with few quality assets coming online the barriers to entry are strong," noted Uri Kahanow, Tryko Partners' director of acquisitions. "We are thrilled with Rock Glen. This property offers newer construction and great aesthetics, and is located in the heart of a medical-rich market."
Kahanow added that Tryko Partners' established footprint in the Maryland multifamily market, where the firm owns and manages 2,000 apartment units, makes having a skilled nursing presence there a natural fit for the Brick, N.J., firm. The organization invests in multifamily properties, healthcare facilities, and tax liens throughout the Northeast and Mid-Atlantic states - with additional holdings in Massachusetts, Ohio, Pennsylvania, New Jersey and Virginia.
Financed by Chicago-based The PrivateBank, the Rock Glen purchase reflects Tryko's continued investment emphasis in the skilled nursing sector. Tryko Partners currently is involved in more than 2,000 skilled nursing beds. Several Tryko Partners nursing facilities received five-star ratings in U.S. News and World Report's 2013 "Best Nursing Homes" feature. This distinction recognizes excellence in three categories: state-conducted health inspections, nursing and physical therapy staffing, and quality medical care.
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