Northern California’s Northgate Care Center Sells

Sept. 10, 2015 - PRLog -- Northgate Care Center, a 52-bed skilled nursing facility, has been sold to Reliant Management Group, LLC. The sale was facilitated by Shep Roylance, Senior Vice President of JCH Consulting Group.. Previously owned by Meridian Foresight Management, Northgate is located in the Northern California city of San Rafael, just north of San Francisco. A milestone in itself, the sale of Northgate marks one of Meridian Foresight’s eight skilled nursing facilities in its Northern California portfolio. It should also be noted that Roylance represented both buyers and sellers in the disposition of the Meridian portfolio.

No stranger to these types of transactions, Roylance had the following to say: “I am excited to be a part of Reliant Management Group, LLC skilled nursing and hospice growth strategy throughout Northern and Southern California.”

Northgate was sold to Reliant Management for $4,525,000, or $87019.23 per bed. The final purchase price was paid as a combination of cash, the assumption of Meridian’s QA fee liability from Northgate, and a new loan. The deal was structured as a lease purchase.  Reliant Management Group, LLC took over the operations of Northgate and corrected the critical OSHPD life and safety issues.  Reliant is now moving to close of the real estate.  As per Roylance, the sale of the senior living facility was beneficial to the landlord Meridian and Reliant.

In recent months, Meridian has completed the divesting of their skilled nursing portfolio, with the exception of Shasta View Nursing Center. While no specifics have been released, this dismantling is being done for personal reasons, according to a Meridian official. On the other hand, both Continuum Capital and Reliant Management were able to increase their presence in Northern California with the acquisition of Northgate. Roylance recently represented Reliant Management Group in the acquisition of a skilled nursing facility in Los Gatos and also one in Campbell California. Reliant Management Group is owned and operated by a group of Los Angeles-based investors who have developed a deep bench of skilled nursing professionals. They are actively looking to grow their Northern and Southern California skilled nursing portfolio.

“It has been a pleasure working with the principles of Reliant Management Group. We have worked closely with each other over the past couple years, and I am pleased to say we have become good friends”, says Roylance.

Shep Roylance, in his capacity as Senior Vice President of JCH Senior Housing Group, serves his valued clients in their acquisition and disposition of all types of senior living facilities.  His expertise and experience cover the entire spectrum of healthcare properties. For 15 years his main goal has been to improve the quality of care for our senior population.  Roylance hopes that his efforts in bringing a successful close of the Northgate Care Center transaction has contributed to this goal.