Another SNF in LifeHouse’s Portfolio Done

March 1, 2016 - PRLog -- Riverside Healthcare Center was sold to Reliant Management Group in a lease with the option to purchase once the facility graduates off the special facility focus list. Reliant’s option price is $12.5 million. The 188-­bed skilled nursing facility (SNF) was one of nine SNF communities throughout California that had been operated by Lifehouse Healthcare Services.

With the assistance of Shep Roylance of JCH Senior Housing Group, Lifehouse has been diversifying their portfolio over the last several months. Riverside, in particular, has had a troubled past, finding itself on the Specialty Facility Focus (SFF) list for 43 months and under a Systems Improvement Agreement (SIA). The transaction closed on February 1, 2016 with a lease purchase agreement. The terms of the agreement created a 15 year lease with the option to extend for two additional 5 year periods.

Located in Riverside, California, this facility is situated on nearly 4 acres and features several one­ story buildings, all of which have served different purposes in the past. Over the years, the site has grown to span nearly 40,000 square feet. Constructed in 1969, Riverside provides a full range of nursing care, rehabilitation care, social services, and support services.

It should be noted that Roylance represented both Lifehouse and Reliant Management during this transaction. Reliant Management focuses on skilled nursing facilities, long-­term acute care hospitals, rehabilitation hospitals, and continuing care communities throughout the United States. With the acquisition of Riverside, they will add another prominent California facility to their ever­-expanding West Coast portfolio.

In regards to the transaction, Roylance had this to say, “Riverside Healthcare Center was on the verge of being decertified.  I am pleased we were able to bring in Reliant Management Group before the community was closed down.”

In his capacity as Senior Vice President of JCH Senior Housing Group, Roylance specializes in the acquisition and disposition of skilled nursing, assisted living, Alzheimer's care, and continuing care residential facilities. Roylance’s knowledge and expertise covers the entire spectrum of the senior housing market. Furthermore, his knowledge and experience in the intricacies of the bankruptcy court is invaluable in his execution of transactions of facilities in bankruptcy. Although Roylance services individual owner/operators and regional and nation healthcare providers alike, he specifically targets the representation of institutional investor’s health care portfolios in part or in entirety. His judicious representation of both buyers and sellers in the senior housing market has earned him an outstanding nationwide reputation.

Shep Roylance

EFax:   (805) 392­5171

Email: Shep@shepjch.comWeb: www.shepjch.com