Brick-based Tryko Partners LLC has acquired ManorCare Health Services-New Providence from Quality Care Properties Inc., with plans for immediate renovations of the property.
CIBC arranged financing for the deal.
Marquis Health Services, a health care subsidiary of Tryko, will begin immediate renovations of the property at 144 Gales Drive, which has been renamed Spring Grove Rehabilitation & Healthcare Center.
The multimillion dollar investment at the 34,380-square-foot skilled nursing facility will include the addition of a new rehab gym; updated patient rooms, common areas and hallways; the reopening of a currently unused wing of the building; and resurfacing parking lots.
Tryko’s addition of Spring Grove brings the private investment group’s number of New Jersey skilled nursing facilities to five.
Spring Grove is a 106-bed facility providing after-hospital care, short-term rehab services and long-term residential care.