- Archway Nursing Facility and Related Property to be Sold for
The Seller and Purchaser entered into the PSA on
Prior to the Inspection Period’s expiration, the Purchaser shall have the right to terminate the PSA for any reason or no reason by delivering written notice to the Seller. In the event of termination, the Purchaser shall receive a full refund of the initial
Following completion of the transaction, the Company and its wholly owned affiliates will continue to own and operate its
Remaining Facilities Post-Transaction
Facility | Beds | Facility Type | State |
141 | Skilled Nursing | AR | |
100 | Skilled Nursing | GA | |
101 | Skilled Nursing | GA | |
Providence of | 71 | Skilled Nursing | GA |
110 | Skilled Nursing | GA | |
99 | Skilled Nursing | OH | |
86 | Skilled Nursing | OK | |
29 | Skilled Nursing | OK | |
106 | Skilled Nursing | OK | |
Southern Hills Assisted Living Facility2 | 24 | Assisted Living | OK |
106 | Skilled Nursing | OK | |
Southern Hills Retirement Facility2 | 90 | Independent Living | OK |
1 Leased facilities operated by third parties.
2 All located on the same campus in
For more information on the transaction, please see the Company’s associated Form 8-K disclosure, as filed on
About
For more information, please visit www.selectis.com.
Forward Looking Statements
This press release contains statements that plan for or anticipate the future. In this press release, forward-looking statements are generally identified by the words “anticipate,” “plan,” “believe,” “expect,” “estimate,” and the like. These forward-looking statements include, but are not limited to, statements regarding the following:
* | strategic business relationships; | |
* | statements about our future business plans and strategies; | |
* | anticipated operating results and sources of future revenue; | |
* | our organization’s growth; | |
* | adequacy of our financial resources; | |
* | development of markets; | |
* | competitive pressures; | |
* | changing economic conditions; and, | |
* | expectations regarding competition from other companies. | |
* | the duration and scope of the COVID-19 pandemic | |
* | the impact of the COVID-19 pandemic on occupancy rates and on the operations of the Company’s facilities. | |
* | Actions governments take in response to the COVID-19 pandemic, including the introduction of public health measures and other regulations affecting our properties and our operations. | |
* | The effects of health and safety measures adopted by us in response to the COVID-19 pandemic. | |
* | Increased operational costs because of health and safety measures related to COVID-19. | |
* | Disruptions to our property acquisition and disposition activities due to economic uncertainty caused by COVID-19. | |
* | General economic uncertainty in key markets as a result of the COVID-19 pandemic and a worsening of global economic conditions or low levels of economic growth. | |
Although we believe that any forward-looking statements, we make in this press release are reasonable, because forward-looking statements involve future risks and uncertainties, there are factors that could cause actual results to differ materially from those expressed or implied. For example, a few of the uncertainties that could affect the accuracy of forward-looking statements, besides the specific factors identified above in the Risk Factors section of this press release, include:
* | changes in general economic and business conditions affecting the healthcare industry; | |
* | developments that make our facilities less competitive; | |
* | changes in our business strategies; | |
* | the level of demand for our facilities; and | |
* | regulatory changes affecting the healthcare industry and third-party payor practices. | |
Investor Relations Contact
(949) 574-3860
selectis@gateway-grp.com
Source:
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