Nursing home company sells four central Massachusetts properties for $40 million
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 aged care centers in Marlborough, Webster and Worcester to entities registered at and two senior vice presidents of Vantage Point Capital , LLC.
Vantage Point Capital is a New York-based healthcare real estate management and acquisition company. The $40 million in deals was for land only and doesn’t necessarily cover whether Athena also sold the businesses to Vantage, which could be a separate private transaction.
The Webster Manor Rehabilitation and Health Care Center at 745 School St. in Webster sold for $12.3 million. It was last valued by the city at $4 million. Down the street at 751 School St. in Webster, Lanessa Extended Care also sold for $7.3 million. This property is valued at $2.8 million.
The Parsons Hill Rehabilitation and Health Care Center at 1350 Main Street in Worcester has sold for $11 million. The center is an approximately 43,000 square foot facility valued by the city at $3 million.
The Marlborough Hills Rehabilitation and Health Care Center at 121 Northboro Road East in Marlborough has sold for $9.8 million. The 43,500 square foot facility is valued at $3.2 million.
Athena Health Care Systems has another Worcester facility on Providence Street, Worcester Rehabilitation & Health Care Center, the property of which has not been sold, according to the Deeds Register. Athena purchased this property in 2012 for $9.6 million. His other central Massachusetts facility, Southbridge Rehabilitation & Health Care Center, also hasn’t been sold since 2012, when Athena bought it for $13.6 million.
Athena was unavailable for comment.