Baltimore firm pays $3M for Worcester nursing home property
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Vero Health & Rehab of Worcester
The property on which a 160-bed nursing home sits off Lincoln Street in Worcester has sold for more than $3 million to a Baltimore financing firm working with the healthcare industry.
The site at 25 Oriol Drive rebranded this summer as the Vero Health & Rehab of Worcester when it became part of Vero Health Care of Columbia, Md. The facility was previously known as the Worcester Health Center and Autumn Village Skilled Nursing and Rehabilitation Center. Vero Health Care has seven Massachusetts centers in all.
The buyer is Capital Funding Group of Baltimore, which provides financing for the healthcare industry and multifamily developments, among other services. The seller was KCP Advisory Group of Billerica, a financial advisory and corporate restructuring firm. The sale closed Oct. 8.
The Worcester center did not return a call seeking comment on the transaction.
The site, which includes a 40,000 square-foot building, last sold in 2014 for $10.7 million. It was last assessed by the City of Worcester at nearly $3.6 million.
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