Birchwood Health Care Properties Acquires Alabama Memory Care Facility and Oklahoma Portfolio

Chicago, IL (July 6, 2016)

In two separate transactions, Birchwood Health Care Properties, LLC (“Birchwood HCP”) is pleased to announce the acquisition of a 64 unit memory care facility located in Montgomery, AL and a portfolio of four nursing homes, a hospice company and a home health company located in eastern Oklahoma.

The Memory Care facility was independently owned and operated by a family in Montgomery for many years prior to the acquisition. The facility had approximately $3.1MM of revenue at time of Closing, which occurred on June 16th.

The portfolio in eastern Oklahoma had been independently owned by a group of owner/operators for 20+ years. The portfolio consists of 361 nursing home beds and two ancillary companies which produce approximately $24MM of annual revenue. The portfolio closed on June 30th.

All facilities were stable at time of closing with attractive physical plants and no deferred maintenance. Additionally, clinical performance of all buildings are strong, with deep roots in their local markets due to previous ownership. With these acquisitions, Birchwood increased its portfolio to 18 facilities and 2 ancillary companies in 5 states with 6 operators – all but one facility were purchased in the last 15 months.