Brick-based investors buy New Providence skilled nursing facility

By Eric Strauss
New Providence | Sep 12, 2018 at 7:00 am

Tryko Partners LLC has acquired 106-bed ManorCare Health Services-New Providence, adding it to its New Jersey skilled nursing portfolio, it announced Tuesday.

Brick-based Tryko said the 34,380-square-foot property at 144 Gales Drive has been renamed Spring Grove Rehabilitation & Healthcare Center. Tryko’s Marquis Health Services affiliate will launch an immediate, multimillion-dollar upgrade.

“Tryko Partners maintains a strong, longtime presence in central and northern New Jersey, and we are pleased to continue the expansion of our regional skilled nursing portfolio,” Uri Kahanow, director of acquisitions for Tryko, said in a prepared statement. “Our immediate renovation will take this property to a new level, an we are confident the local market will appreciate the high standards Marquis Health Services maintains for both physical plants and delivery of care.

Improvements will include a new rehab gym and an overhaul of patient rooms, common areas and hallways. Marquis also plans to reopen an unused wing of the building and resurface parking lots and driveways.

“We take pride in our well-established partnerships with New Jersey’s top health care systems, and our relationships with state agencies, as well,” Norman Rokeach, Marquis’ CEO. “At Spring Grove, we look forward to aligning our programming with the region’s needs specific to subacute care and related areas of specialization.”

Tryko bought the property from Quality Care Properties Inc. Financial terms were not disclosed. Marquis’ 11 skilled nursing properties in the Mid-Atlantic region include four in New Jersey, in Mount Laurel, Oakland, Neptune City and Brick.

Eric Strauss | estrauss@roi-nj.com | acerimrat