Ensign Group Buys Skilled Nursing Facilities, Healthcare Campus In Texas

Ensign Group

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(RTTNews) - Ensign Group, Inc.(ENSG), a provider of skilled nursing and senior living services, and others, on Monday announced that its captive real estate company, Standard Bearer Healthcare REIT, Inc., exercised a purchase option to acquire the real estate of certain skilled nursing facilities and healthcare campus in Texas, effective as of January 31.

The deal includes skilled nursing facilities Beacon Harbor Healthcare & Rehabilitation, Pleasant Manor Healthcare & Rehabilitation, and Rowlett Health & Rehabilitation Center, as well as healthcare campus Crestwood Health & Rehabilitation Center, all in different parts of Texas.

Each of these operations have been operated by an Ensign-affiliated company under two third-party leases with purchase options since 2019.

Ensign noted that these facilities will continue to be operated by its independent operating subsidiaries, subject to long-term triple net leases with Standard Bearer.

In a separate deal, effective February 1, Ensign announced that it had acquired the real estate and operations to Mesquite Post Acute Care, a 120-bed skilled nursing facility located in Lubbock, Texas.

The real estate was acquired by a unit of Standard Bearer and will be operated by an independent operating subsidiary of Ensign, subject to a long-term triple net lease with Standard Bearer.

Ensign subsidiaries, including Standard Bearer, own 134 real estate assets.