Newspaper article THE JOURNAL RECORD

Sale of 2 Nursing Homes Held to November Meeting / 2 Others Sold

Newspaper article THE JOURNAL RECORD

Sale of 2 Nursing Homes Held to November Meeting / 2 Others Sold

Article excerpt

Applications by a California investment firm to buy two nursing homes for a total of $7.6 million were referred this week to the Oklahoma Health Planning Commission for consideration in November after the commission director could not approve the transactions because of deficiencies in the proposals.

However, Stephen B. Peter, health planning commission director, did approve the sale of two other nursing homes by separate entities for a total of $861,000.

The facilities which were proposed for acquisition by Health Care Investors Inc. of Costa Mesa, Calif., were referred for the health planning commission's consideration at its Nov. 19 meeting. Theyfacilities are:

- The 100-bed Bryant Nursing Center, 1100 E. 9th St. in Edmond, with a proposed acquisition offer of $4.2 million and a 12-year lease of $350,750 a year. The center, currently owned by Bryant Nursing Center Inc. of Denver, contains 60 intermediate care beds and 40 skilled nursing beds.

- The 100-bed East Moore Nursing Center, 325 N. Eastern Ave. in Moore, with a proposed acquisition offer of $3.4 million and a 12-year lease of $275,512 a year. All of the beds are intermediatecare beds in the facility, which is owned by Kingsbriar Development Co.

Applications for acquisition which were approved by the director are::

- River Oaks Estates Nursing Center, 201 48th Ave. SW, Norman. River Oaks Estates Nursing Center Inc. is buying the nursing home's equipment and fixtures from River Oaks Estates Inc. for $500,000 and will lease the building and land on a 20-year lease for $363,340 the first year and $490,800 in subsequent years.

- McCurtain Manor Nursing Center, Broken Bow. Evergreen Nursing Center of Idabel is buying the 38-bed nursing center from Southeastern Oklahoma Nursing Home of Idabel for $361,000 after a $150,000 expansion project enlarges the facility to 50 beds. …

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