Investment Firm Continues Expansion of Jersey Shore-Region Portfolio
LITTLE EGG HARBOR, N.J., Jan. 6, 2022 — Tryko Partners has acquired Seacrest Village and The Terraces at Seacrest Village in Little Egg Harbor, expanding its Jersey Shore regional skilled nursing/assisted living portfolio. Located at 1001 Center Street and 281 Mathistown Road, 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 designation 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 community.
“Seacrest Village and the Terraces are desirable – and fitting – extensions of our regional investment portfolio,” said Uri Kahanow, director of acquisitions for Brick, N.J.-based Tryko, which has an established, 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 comfortable with Tryko Partners,” noted 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 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 healthcare 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.”
Founded in 1989, Tryko Partners maintains a deep commitment to healthcare facility investment. Its growing portfolio currently includes nearly 6,000 skilled nursing and assisted living beds in New England and the Mid-Atlantic region – including four additional properties in Ocean and Monmouth counties. Tryko-owned facilities are supported by Marquis Health Consulting Services, a highly skilled and vision-driven nursing home consulting company with deep experience; decades of practice; and a wealth of knowledge, ideas and best practices for adapting to the changing healthcare industry.
Tryko Partners also purchases multifamily assets – including market-rate, age-restricted and affordable-housing properties.
About Tryko Partners
1608 Rt. 88, Brick, New Jersey, 08724