Nursing home company sells four Central Mass. properties for $40M
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Parsons Hill Rehabilitation & Health Care Center in Worcester
Athena Health Care Systems, a Connecticut-based healthcare management company, has sold the properties housing four of its six facilities in Central Massachusetts for a total of more than $40 million, according to the Worcester South District Registry of Deeds.
In the first week of January, the company sold the land for its elder healthcare centers in Marlborough, Webster, and Worcester to entities registered to the address and two senior vice presidents of Vantage Point Capital, LLC.
Vantage Point Capital is a New York-based healthcare real estate management and acquisition firm. The $40 million worth of transactions only accounted for the land and doesn't necessarily cover if Athena sold the businesses to Vantage as well, which could be a separate private transaction.
Webster Manor Rehabilitation & Health Care Center on 745 School St. in Webster sold for $12.3 million. It was last assessed by the town at $4 million. Down the road at 751 School St. in Webster, Lanessa Extended Care also sold for $7.3 million. That property is assessed at $2.8 million.
Parsons Hill Rehabilitation & Health Care Center on 1350 Main St. in Worcester sold for $11 million. The center is a roughly 43,000-square-foot facility assessed by the city at $3 million.
Marlborough Hills Rehabilitation & Health Care Center at 121 Northboro Road East in Marlborough sold for $9.8 million. The 43,500-square foot facility is assessed at $3.2 million.
Athena Health Care Systems owns another Worcester facility on Providence Street, Worcester Rehabilitation & Health Care Center, whose property was not sold, according to the deed registry. Athena bought that property in 2012 for $9.6 million. Its other Central Massachusetts facility, Southbridge Rehabilitation & Health Care Center, has also not been sold since 2012, when Athena bought it for $13.6 million.
Athena was not available for comment.
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