American Health Properties, Inc. invests in two skilled nursing facilities.DENVER--(BUSINESS WIRE)--June 14, 1995--American Health Properties, Inc. (NYSE NYSE See: New York Stock Exchange :AHE) announced that it has completed an $8,900,000 purchase of two skilled nursing facilities skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. located in Denver, Colorado. The two skilled nursing facilities have a total of 264 beds and are leased pursuant to 10-year leases to affiliates of Signature HealthCare Corporation of Denver. Inclusive of this transaction, Signature operates nine nursing homes located in Colorado and Arizona with a total of 886 beds. Joseph P. Sullivan, President and Chief Executive Officer of the Company, stated that: "These investments are consistent with the Company's stated intention to expand its investment portfolio into other health care sectors, including assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. and skilled nursing facilities. Signature is a privately held operator run by executives with over 25 year's experience managing multiple facility long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. operations in the Western states. We are particularly pleased to begin building a lasting relationship with Signature." AHE is a real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) specializing in quality health care facilities. The Company's investments include twenty-seven acute care, rehabilitation, psychiatric, medical office and long-term care properties located in fourteen states. CONTACT: American Health Properties, Inc., Denver Joseph P. Sullivan or Victor C. Streufert, 303/796-9793 |
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