Greystone Brokers Sale of TX Skilled Nursing Facility
- Apr 20, 2018
Led by Managing Directors Mike Garbers and Cody Tremper, Greystone’s Real Estate Advisors’ team has arranged the sale of Nazareth Living Care Center, a skilled nursing facility in El Paso, Texas, on behalf of the seller. Chicago-based Mozart Healthcare LLC—a senior-living real estate management firm—bought the asset from Nazareth Hall, a Texas nonprofit firm, for $6.3 million.
Spread across a 3.4-acre site, the property is a 124-licensed bed facility comprising two buildings located at 1475 Raynolds St.: one operational building constructed in 2013 with 74 skilled nursing beds and one 50-unit, unused building with 50 inactive licensed beds. Paramount Healthcare is currently managing the community, which features the following services: fast-track recovery, long-term care, recreational therapy and spiritual care.
Interstate 10, Interstate 110 and Patriot Freeway are all easily accessible from the property. University Medical Center Foundation and Candlelighters of West Texas & Southern New Mexico are also located nearby.
Photo via Google Street View