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May 21, 2024

8 CT nursing home properties sell for $60M

Contributed The iCare Health Network recently purchased the Manchester property, at 333 Bidwell St., of Touchpoints at Manchester, a rehab and skilled nursing facility it already manages.

A portfolio of eight Greater Hartford nursing home and healthcare properties recently traded hands for $60 million, property and land records show. 

The buyer was Manchester-based iCare Health Network, which was already managing the properties, located at: 

  • 333 Bidwell St., Manchester
  • 345 Bidwell St., Manchester
  • 151 Hillside Ave., Hartford
  • 25 Lorraine St., Hartford
  • 33 Roy St., Meriden
  • 140 Park Ave., Bloomfield
  • 171 Main St., East Windsor
  • 96 Prospect Hill Road, East Windsor

According to its website, iCare Health Network provides management, operating and consulting services to skilled nursing facilities and other healthcare providers, mostly in Connecticut. It also operates facilities in Holyoke, Mass., and Bennington, Vermont. 

ICare said it manages 10 care centers in Connecticut including three Touchpoints Rehab centers, six Greater Hartford memory care centers as well as 60 West, a skilled nursing facility in Rocky Hill. 
The company also says it specializes in healthcare real estate transactions and skilled nursing turnarounds. 

In a statement about the recent real estate transaction, the company said: “2024 marks iCare Health Network’s 25th anniversary in operation, having purchased our original group of care centers out of receivership in 1999. Our model was and has been distressed asset turnarounds that bring quality care and value to our residents and the community. This transaction will allow iCare Health Network to continue to provide quality care and enrich the lives of the residents we serve in a seamless way.”

The properties were sold by California-based Summit Healthcare REIT Inc., which disclosed the transaction in a recent U.S. Securities and Exchange Commission filing. 

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