A real estate investment trust has sold three skilled nursing and assisted living communities in South Dakota to a national group that already has a strong presence in the state.
The communities, previously operating as Health Quest, have a total of 377 beds.
SunQuest Village and SunQuest Health Care Center are on the same 9.5-acre campus in Huron. The healthcare center is licensed for 163 skilled nursing beds across approximately 45,500 square feet; SunQuest Village features 55 assisted living beds in 46,000 square feet.
Southridge Health Care Center, located in Sioux Falls, is licensed for 159 skilled nursing beds. The building sits on more than six acres of land and features 33,300 square feet.
“This was an excellent opportunity for the buyer to increase their portfolio in South Dakota and allow the operator to retire from the industry,” said Jason Punzel, managing director of sale facilitator Senior Living Investment Brokerage.
The sale price was not disclosed.
The unidentified buyer picked up another 16-property senior living portfolio in July, the brokerage firm reported.