Skyline Healthcare Signs Leases at Nine AdCare Skilled Nursing Facilities in Arkansas

AdCare purchased West Markham Subacute & Rehabilitation Center, a 154-bed skilled nursing facility in Little Rock, Ark., in 2012. AdCare purchased West Markham Subacute & Rehabilitation Center, a 154-bed skilled nursing facility in Little Rock, Ark., in 2012.

ATLANTA — AdCare Health Systems Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA), a skilled nursing investor based in Atlanta, has leased nine of its properties in Arkansas to Skyline Healthcare.

Aria Health Group currently operates the communities. The transition will be effective March 1.

The master lease agreement, which is subject to licensure and lender consents, includes an initial term of 15 years with two five-year renewal options, monthly rental fees of $450,000 with 2.5 percent annual rent escalators, a two month cash security deposit, and a one-time, short-term option for the lessee to purchase the facilities.

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