Adventist HealthCare Sells Six Skilled Nursing Facilities

Our client, Adventist HealthCare, Inc., and a number of its subsidiaries recently closed on the sale of six skilled nursing facilities, one of which was jointly owned by Frederick Memorial Hospital, to Genesis HealthCare and its affiliates. Four of the facilities are located in Montgomery County, and the remaining two are located in Prince George’s County and Frederick County. The multi-million dollar transaction, which took the better part of a year to complete, involved the sale and lease of real estate, the sale of the ongoing business operations of the nursing facilities, defeasance of bond financing, and various ancillary issues. Robby Brewer, Cindi Cohen, Paul Alpuche and Dave Kay worked closely with in-house counsel and a number of other representatives of Adventist HealthCare to negotiate the sales contracts, satisfy due diligence requirements and successfully complete the transfer.