Formation Capital and Safanad Limited acquire 14 SNFS

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Formation Capital and Safanad Limited have bought 14 skilled nursing facilities for around $150 million.

The portfolio is 11 facilities in Virginia, two in Maryland and one in Pennsylvania, with a total of 1,658 beds. They are operated by Consulate Health Care.

“We are very pleased to announce the close of this transaction as it represents another step in the multiyear strategic partnership between Formation Capital and Safanad,” said Vincent Pica, managing partner and president of Safanad Inc., the US subsidiary of Safanad Ltd.