Healthcare

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.

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Tryko Partners Expands Northern New Jersey Assisted Living/Skilled Nursing Portfolio

Tryko Partners has expanded its northern New Jersey skilled nursing and assisted living real estate portfolio with the acquisition of The Allendale Community for Senior Living, a 299-bed facility had been family owned for more than 50 years. The two-story, 146,000-square-foot Allendale Community for Senior Living building includes three sections: Allendale Nursing Home (skilled nursing), Carlton Court (memory care) and The Atrium (assisted living). The facility’s primary referral source for short-term residents is The Valley Hospital in Ridgewood. In addition, Allendale draws admissions from Hackensack University Medical Center in Hackensack and Hackensack University – Pascack Valley Medical Center. A significant capital improvement program is planned for The Allendale Community for Senior Living. This facility sits in the heart of one of New Jersey’s most affluent communities, and the planned renovation will focus on creating a luxurious, hospitality-focused environment in keeping with the location.

“Allendale is a well-respected, legacy-owned property – one poised to remain a regional market leader. The sale process was highly amicable and enjoyable, thanks to the Giancarlo family, which built this property in the late 1960s and has a sterling reputation in the industry. We look forward to supporting Allendale’s next chapter.” Uri Kahanow, Director of Acquisitions, Tryko Partners

Tryko Partners Expands Rhode Island Skilled Nursing Portfolio

Tryko Partners has expanded its Rhode Island skilled nursing portfolio with the acquisition of Scalabrini Villa, a 120-bed facility in North Kingstown. Located at 860 N. Quidnessett Road, the bucolic property fronts on Narragansett Bay. The site, itself, has a deep history. In the mid-1800s, the land was owned by textile mill owner Crawford Allen, who gifted it to his daughter, Anne, when she married John Carter Brown, son of Nicholas Brown, Jr., the namesake patron of Brown University. The Browns donated it to Rhode Island Hospital, and the property was home to a children’s hospital for decades. In 1956, Bishop John Baptist Scalabrini purchased the property, opening The Bishop Scalabrini Home for the Aged. Scalabrini Villa was constructed and opened in 1994. The one-story facility contains two 60-bed units, each with 12 private rooms and 48 semi-private rooms. The Ocean unit provides memory care services, and the Country unit features long-term and sub-acute care. A significant capital improvement campaign is planned under Tryko’s ownership.

“North Kingstown’s enviable demographics and deep regional hospital network contributed to this opportunity’s appeal. Scalabrini Villa is well positioned to serve as a market-leading facility for decades to come.” Uri Kahanow, Director of Acquisitions, Tryko Partners

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

Numerous Tryko Partners healthcare properties receive five-star ratings in U.S. News & World Report’s annual Best Nursing Homes feature.