12C — January 21 - February 17, 2022 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
L Real estate investment firm continues expansion of Jersey Shore-region portfolio Tryko Partners acquires Little Egg Harbor, NJ, skilled nursing and assisted living assets ITTLE EGG HAR- BOR, NJ — Tryko Partners has acquired
ignation from the Centers for Medicare &Medicaid Services (CMS) for both overall quality and quality of resident care. The Terraces, built in 2013, is a two-story, class A assisted living and memory care com- munity. “Seacrest Village and the Terraces are desirable – and fitting – extensions of our re - gional real estate investment portfolio,” said Uri Kahanow , director of acquisitions for Tryko, which has an estab- lished, long-time Jersey Shore presence. “Seacrest Village and The Terraces are highly
reputed within the close-knit Little Egg Harbor community and surrounding area, thanks to the Holloway family. We are pleased to support the next chapter for these exceptional properties.” “We have known Uri for years and felt very comfort- able with Tryko Partners,” said Brian Holloway , who had operated Seacrest Village and The Terraces at Seacrest Village with his wife, Patty. “When it came time for us to sell our special communities, we knew Tryko was the best fit. Uri and his team were a pleasure to work with, and the entire acquisition process went smoothly.” According to Kahanow, an immediate capital improve- ment program is planned for Seacrest Village – which has been renamed Seacrest Reha- bilitation & Healthcare Cen- ter – and The Terraces. “Our investment will further mod- ernize the facilities, helping to meet the evolving healthcare needs of area residents,” he noted. “Demand for skilled nursing and assisted living in Ocean County – which has New Jersey’s largest per capi- ta senior population, at 22.8% – remains high. The county’s strong population growth also makes this a desirable market to expand Tryko’s presence for the long term.” MAREJ Larken As soc s . inks 11,824 s/f lease renewal with Saint Clare’s Health at ParsippanyCommons PARS IPPANY , NJ — Larken Associates announced a lease renewal with Saint Clare’s Health for 11,824 s/f of medical office space at Parsip - pany Commons located at 3219 Rte. 46 East in Parsippany. Parsippany Commons is a three-story building offering over 54,000 s/f of medical, dental, and professional office space. With units starting at 688 s/f, the property features a wide range of configurations and amenities that make it a highly flexible space able to cater to both medical and professional tenants. With Larken Associates’ comple- tion of a full exterior and interior renovation in 2019, Parsippany Commons fea- tures modernized lobbies and hallways. MAREJ
Seacrest Village and The Ter- races at Seacrest Village in Little Egg Harbor, expand- ing its Jersey Shore regional skilled nursing/assisted living real estate portfolio. Located at 1001 Center St. and 281 Mathistown Rd., respectively, the assets had been family owned and operated for more than three decades. Seacrest Village, a 171-bed, three-story skilled nursing facility, was developed in 1985. It carries a five-star des -
Seacrest Village
QUALITY COMMITMENT PERFORMANCE
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