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Sun Healthcare Buys 4 Nursing Facilities for $20.6M

Nationwide Health Removes 401 Beds From Portfolio
By Hansen Padmore
February 27, 2008 | 3:58 P.M.

Sun Healthcare Group Inc., of Albuquerque, NM, doing business as Harborside Massachusetts LP, purchased four skilled-nursing facilities from Nationwide Health Properties Inc., of Newport, CA, for $20.6 million. The properties totaled 120,142 square feet with a combined total of 401 beds. The sale was equivalent to approximately $51,372 per bed or $171.50 per square foot.

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