Greystone Real Estate Advisors Closes $6.3M Sale of Texas Skilled Nursing Facility

April 16, 2018

NEW YORK–Greystone, a leading commercial real estate lending, investment, and advisory firm, announced its Real Estate Advisors team closed the sale of Nazareth Living Care Center. Chicago-based Mozart Healthcare, LLC purchased the property from Nazareth Hall, a Texas non-profit corporation, for $6,300,000. Mike Garbers and Cody Tremper of Greystone represented the seller, orchestrating a successful outcome in a complex transaction.

Nazareth is a skilled nursing facility in El Paso, Texas comprising 124 licensed beds. Located on a 3.39-acre site, the community consists of two buildings: one operational building constructed in 2013 with 74 skilled nursing beds and one 50-unit, unused building with 50 inactive licensed beds. Paramount Healthcare is the current operator of the community.

The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.

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