Tryko Partners will pay $14.5 million for Hopkins Manor, a 200-bed skilled nursing facility in North Providence, R.I.
Partnering with Marquis Health Services, the company will purchase the asset which fell into receivership due to COVID-19-related issues and rebrand it as Lincolnwood Rehabilitation & Healthcare Center.
Located on 4 acres at 610 Smithfield Road, the two-story building came online in 1974. Hopkins Manor provides short-term rehabilitation, long-term care, Alzheimer’s and dementia programs, as well as hospice and respite services. After the acquisition closing, Tryko will invest approximately $5 million in property renovations and programming upgrades. Marquis Health Services will serve as the facility’s operator.
The property is roughly a mile north of the city center, within walking distance of Twin Rivers Beach. Our Lady of Fatima Hospital is a mile south of the facility.
In February, Tryko purchased a three-property skilled nursing portfolio totaling 563 beds in Virginia that were former assets of the Cambridge Healthcare portfolio. Marquis Health Services operates those facilities as well.