February 1, 2019 — SKOKIE, IL – Cascade Capital Group, a private healthcare real estate investment firm, announces the transition of two separate skilled nursing facilities located in the Chicago metro area. The facilities, Avantara Evergreen Park and The Grove of Berwyn, are comprised of more than 380 licensed beds, with a combined revenue of $28.5 million dollars.
Cascade leased the facilities to its strategic operational partner, Legacy Healthcare, a recognized premier operator, headquartered in Skokie, IL. Legacy now operates over 30 Cascade skilled
nursing facilities, primarily in Chicagoland. The transition of these two new facilities comes on the heels of another Cascade/Legacy acquisition in October of two other facilities in the local
“Cascade is continuing our goal of identifying and acquiring strategic assets and pairing them with best-in-class local operators,” explained Ben Shibe, Cascade’s Chief Investment Officer. “We believe these facilities have great upside potential and Legacy’s local relationships and deep understanding of the market make them the perfect fit to unlock that potential.” “The transition of these two facilities will allow Legacy to continue to grow our presence in the region expanding into a new sub-market, the city’s south suburbs,” said Moti Ninio, Legacy’s Chief Financial Officer. “This expansion will also help grow our already extensive clinical services, with an advanced wound care clinic at Avantara Evergreen Park, and the addition of a dialysis program at The Grove of Berwyn.”
About Cascade Capital Group, LLC
Cascade is an independent, privately-held healthcare real estate investment and management company focused on acquiring underperforming/value-add skilled nursing, rehabilitation, post-acute, and transitional care facilities. Launched in January 2016 by the owners/operators and leadership team that built Legacy Healthcare, Cascade seeks operators who demonstrate a true, identifiable commitment to outstanding care, technological advancement, and personal service. Leveraging its prior experience in healthcare operations, Cascade offers an unmatched Asset Management platform resulting in a new and growing inventory of post-acute care facilities in over 20 states. These facilities are well positioned to meet the demands of the medical community and more discerning healthcare consumers. For more information visit cascadellc.com.
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