Tryko Partners acquires Little Egg Harbor skilled nursing and assisted living assets
Tryko Partners of Brick said last week that it acquired Seacrest Village and the Terraces at Seacrest Village in Little Egg Harbor, expanding its Jersey Shore regional skilled nursing/assisted living real estate portfolio.
Located at 1001 Center St., Seacrest Village, a 171-bed, three-story skilled nursing facility, was developed in 1985. It carries a five-star designation from the Centers for Medicare & Medicaid Services for both overall quality and quality of resident care. The Terraces, located at 281 Mathistown Road, built in 2013, is a two-story, Class A assisted living and memory care community.
“Seacrest Village and the Terraces are desirable — and fitting — extensions of our regional real estate investment portfolio,” said Uri Kahanow, director of acquisitions for Tryko, which has an established, longtime 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 comfortable with Tryko Partners,” noted Brian Holloway, who had operated Seacrest Village and the Terraces at Seacrest Village with his wife, Patty Holloway. “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 improvement program is planned for Seacrest Village — which has been renamed Seacrest Rehabilitation & Healthcare Center — and the Terraces.
“Our investment will further modernize the facilities, helping to meet the evolving health care needs of area residents,” he noted. “Demand for skilled nursing and assisted living in Ocean County — which has New Jersey’s largest per capita 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.”