Excelsior Healthcare Group Acquires Nursing Home Portfolio From Shankh Mitra For $80.01M

The transaction involves a nursing home portfolio consisting of five properties with a total area of 30.7 acres, located at 375 Yamato Road, 3001 South Congress Avenue, 3600 Old Boynton Road, 16150 South Jog Road, and 7225 Boca Del Mar Drive in the Boca Raton, Boynton Beach, and Delray Beach markets. The sale price for the portfolio was set at $80,010,000.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $80,010,000
• Buyer: Excelsior Healthcare Group
• Seller: Shankh Mitra - Welltower
• Seller Financing: $160,000,000
• Market: Boca Raton, Boynton Beach & Delray Beach
• Number of Properties: Five
• Total Acres: 30.7

This transaction indicates a strategic move by Welltower, represented by Shankh Mitra, as the company continues to divest outpatient and senior care assets in favor of a focus on senior housing. The properties have transitioned to operators affiliated with Excelsior Care Group, highlighting a shift in ownership and operational management in the health care market of Palm Beach County.