Tryko’s commitment to investing in healthcare facilities with significant upside potential remains deep. Tryko-owned facilities are supported by Marquis Health Consulting Services, a highly skilled and vision-driven nursing home consulting company with deep experience; decades of practice; and a wealth of knowledge, ideas and best practices for adapting to the changing healthcare industry. With Marquis’ involvement as a comprehensive nursing home administrative consulting company, its client facilities have the resources to become market leaders.
Our portfolio includes nearly 6,000 skilled nursing and assisted-living beds.
Tryko Partners, Presbyterian Senior Living Enter Contract of Sale for Properties in Allentown, Pa., and Baltimore
Tryko Partners and Presbyterian Senior Living (PSL) have entered a contact of sale under which Tryko will acquire Westminster Village, a 178-bed, four-star-rated continuing care retirement community in Allentown, and Heritage Run, a 34-unit independent living rental community in Baltimore. Upon the anticipated summer 2021 closing, Tryko will launch a capital improvement program to fully modernize Westminster Village, supporting its future as a top destinations for sub-acute rehab, long-term care, personal care and independent living in the greater Allentown area. Heritage Run was constructed in 2014 in the Stadium Place master planned development, former site of Memorial Stadium. Heritage Run provides well-appointed senior housing apartment living for adults age 62 and over, at market rental rates to the surrounding Baltimore community.
“Presbyterian Senior Living has been honored to serve those who live and work in the Allentown and Baltimore communities. We appreciate the support of amazing staff and volunteers that have made Westminster Village and Heritage Run what they are today. Over its 94-year history, PSL has diversified our services and portfolio of offerings as the needs of older adults have changed. This sale to Tryko Partners is consistent with that direction and will assure a continued presence of service to seniors in the east Allentown and Baltimore communities.” Jim Bernardo, PSL president and chief executive officer
Tryko Partners Acquires Norristown, Pa., Skilled Nursing Facility
Tryko Partners has expanded its greater Philadelphia regional portfolio with the acquisition of the Regina Community Nursing Center, a 121-bed skilled nursing facility in Norristown. Renamed Markley Rehabilitation & Healthcare Center, the facility is slated for an immediate $3.5 million investment in physical plant renovations and specialty programming enhancements. Planned upgrades are expected to touch on every part of the three-story building. The facility, previously owned by a faith-based nonprofit organization for 50 years, maintains a four-star rating for quality measures from the Centers for Medicare and Medicaid Services (CMS). IDB Bank provided purchase financing for the Norristown acquisition; It is the first time Tryko has closed a deal with this new banking partner.
“We were very impressed with Tryko’s professionalism and commitment. The team’s focus on supporting progressive skilled nursing will take the facility to the next level and enable the care of more clinically complex residents.” Timothy Bonjo, who was the secretary on the nonprofit seller’s board of directors instrumental in the sale transaction
Tryko Adds Campus to Skilled Nursing/Personal Care Portfolio (Springfield, Pa.)
The acquisition of the Harlee Manor and Springfield Commons campus in Springfield has added 173 skilled nursing beds and personal care units to Tryko Partners’ greater Philadelphia regional portfolio. The purchase – at a time when the skilled nursing sector has borne significant impact from the COVID-19 crisis – punctuates Tryko’s commitment to the industry. Renamed Springfield Enhanced Senior Living, the campus and its facilities are being rebranded, including an immediate, $2.5 million investment in physical plant renovations and specialty care programming enhancements. The skilled nursing and personal care components will be known moving forward as Springfield Rehabilitation & Healthcare Center and Springfield Crossings, respectively. M&T Bank, a repeat partner for Tryko Partners, again provided purchase financing for the Pennsylvania acquisition.
“Given the current headwinds in the Senior Housing industry, it is even more critical for banks to align themselves with knowledgeable and well-seasoned management teams who understand and value partnerships. Tryko Partners continues to exercise a highly selective approach to expanding its Skilled Nursing and Senior Living portfolio, and we appreciate the opportunity to continue supporting them in executing on their growth plans.” Christian Montgomery, Vice President and Senior Healthcare Relationship Manager, M&T Bank
Numerous Tryko Partners healthcare properties receive five-star ratings in U.S. News & World Report’s annual Best Nursing Homes feature.