Tryko Partners Buys Virginia Skilled Nursing Portfolio
- Feb 26, 2020
Tryko Partners has purchased a three-property skilled nursing portfolio totaling 563 beds in Virginia, as part of its strategic expansion in the Mid-Atlantic region. M&T Bank provided financing for the acquisition of Woodbine Rehabilitation & Healthcare Center in Alexandria, Lexington Rehabilitation & Healthcare in Richmond and Westmoreland Rehabilitation & Healthcare Center in Colonial Beach.
Former assets of the Cambridge Healthcare portfolio, the facilities provide post-acute care, short-term rehab and long-term residential care. Tryko intends to invest a total of nearly $9 million in renovations and programming upgrades at all three properties, having Marquis Health Services as operator.
Developed at 2729 King St. on a 4-acre parcel, the 307-bed Woodbine has Virginia’s largest licensed capacity. The 94,000-square-foot facility offers both private and semi-private rooms, as well as a dedicated ventilator unit, in two interconnected buildings.
Lexington, rebranded as Canterbury Rehabilitation & Healthcare Center, sits on 5 acres at 1776 Cambridge Drive. The 69,358-square-foot, 190-bed asset has three local area hospitals within a 10-mile radius.
The 66-bed Westmoreland is the only licensed nursing facility in Westmoreland County. Located at 2400 McKinney Blvd., the 25,000-square-foot building has three patient wings and one rehabilitation wing.