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Brookville Health Center Acquired As Part Of $15M Deal

Posted On July 17, 2017

By Mike Perleberg

Image courtesy Brookville Health Center.

(Brookville, Ind.) – A local skilled nursing facility may soon have a new owner.

Nashville, Tennessee-based MedEquities Realty Trust Inc. has purchased two facilities from Indianapolis-based Magnolia Health Systems.

The $15 million deal includes the Brookville Health Center. The 34,302-square-foot center is licensed for up to 100 beds.

The other facility in the deal is Whitewater Common Senior Living Center in Liberty. It contains approximately 19,928-square-feet and is licensed for 60 beds.

As part of the deal, MedEquities will lease the facilities back to Magnolia for 15 years.

“This transaction is consistent with our stated objective of aligning MedEquities with solid, experienced regional operators,” said John McRoberts, CEO and Chairman of MedEquities. “Stuart Reed and Magnolia Health Systems meet that test. They are uniquely qualified to adapt and thrive in a rapidly changing healthcare environment, and these two facilities will be great additions to our growing, diversifying portfolio.”

The sale is expected to close within 30 days of the announcement made Friday, July 14.