TAMPA, Fla. — Atlanta-based seniors housing investment company AdCare Health Systems Inc. (NYSE MKT: ADK) has agreed to purchase a 55-bed skilled nursing facility in Tampa for approximately $4.8 million. The name of the facility and seller were not disclosed.
The facility will be AdCare's first in Florida, and is also the company’s first acquisition since the transitioning from an owner/operator to a healthcare property holding and leasing company.
As part of the transaction, AdCare will assume the existing HUD debt associated with the property.
The purchase is expected to close in the first quarter of 2016.