Marx Development Group Acquires Four Nursing Homes In West Virginia For $140 Million

The transaction involved four nursing homes located at 150 Hopemont Drive, 105 South Eisenhower Drive, 401 Guffy Street, and 11522 Ohio River Road within the markets of Terra Alta, Beckley, Fairmont, and West Columbia, WV. The total sale price for the properties was $140,000,000. The portfolio consists of 511 beds operated by Majestic Care, a subsidiary of the buyer Marx Development Group.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $140,000,000
• Buyer: Marx Development Group
• Broker: Laca Wong-Hammond - Lument
• Note: Lument Securities arranged the sale of the four West Virginia healthcare communities.

Marx Development Group will utilize its subsidiary, Majestic Care, to manage the newly acquired 511-bed portfolio, following the completion of the transaction arranged by Lument Securities. Laca Wong-Hammond represented Lument in this transaction.