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Private Equity Investment Firm Acquires 120-Bed Facility in North Kingstown
NORTH KINGSTOWN, R.I., Sept. 20, 2021 – Tryko Partners has expanded its Rhode Island skilled nursing portfolio with the acquisition of Scalabrini Villa, a 120-bed facility in North Kingstown. Located at 860 N. Quidnessett Road, the bucolic property fronts on Narragansett Bay.
“The acquisition of Scalabrini Villa further grows our investment footprint in New England, specifically within the desirable Rhode Island marketplace,” said Tryko’s Uri Kahanow, director of acquisitions. “North Kingstown’s enviable demographics and deep regional hospital network added to this opportunity’s appeal. Within this context, Scalabrini Villa is well positioned to serve as a market-leading facility for decades to come.”
North Kingstown is situated in Washington County, 25 miles south of Providence. Notably, within a three-mile radius of Scalabrini Villa, the elderly population, median household income and median housing values are all well above the state and national averages. Referral hospitals include Kent County Memorial Hospital in Warwick, Rhode Island Hospital in Providence and South County Hospital in Wakefield.
Scalabrini Villa was constructed and opened in 1994. The one-story facility contains two 60-bed units, each with 12 private rooms and 48 semi-private rooms. The Ocean unit provides memory care services, and the Country unit features long-term and sub-acute care. According to Kahanow, a significant capital improvement campaign is planned under Tryko’s ownership.
The site, itself, has a deep history. In the mid-1800s, the land was owned by textile mill owner Crawford Allen, who gifted it to his daughter, Anne, when she married John Carter Brown, son of Nicholas Brown, Jr., the namesake patron of Brown University. The Browns donated it to Rhode Island Hospital, and the property was home to a children’s hospital for decades. In 1956, Bishop John Baptist Scalabrini purchased the property, opening The Bishop Scalabrini Home for the Aged, which has provided senior care services to the community ever since.
Founded in 1989 and based in Brick, N.J., Tryko Partners is a private equity investment firm that maintains a deep commitment to healthcare facility investment. Its growing portfolio currently including nearly 6,000 skilled nursing and assisted-living beds in New England and the Mid-Atlantic region. Locally, the firm also owns the 206-bed Elmhurst
Rehabilitation & Healthcare in Providence.
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.
1608 Rt. 88, Brick, New Jersey, 08724