Bon Secours sells four assisted living facilities, including in Suffolk
Published 8:31 pm Monday, January 31, 2022
Bon Secours Mercy Health has sold four of its five assisted living facilities in the Hampton Roads region, including the Maryview Nursing Care Center off of Bridge Road in Suffolk, to a New Jersey-based private equity and investment management company for more than $20 million.
Suffolk Propco LLC is listed as the new owner, according to Suffolk online property records, purchasing the 9.38-acre property for $6.5 million. However, the LLC, with a listed address of 980 Sylvan Ave. in Englewood, N.J., is operated by the Portopiccolo Group, which operates from the same address and has been snapping up assisted living facilities over the past six years, with the four Bon Secours sites its latest grab.
The Portopiccolo Group operates more than 100 assisted living facilities under numerous names, including Accordius Health, which will be operating the four Hampton Roads facilities.
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Accordius Health already operates Nansemond Pointe, a 182-bed skilled nursing facility off of West Constance Road near downtown Suffolk. Portopiccolo purchased the 13-acre property from Eagle Realty XII LLC for nearly $28.7 million in September 2019.
The other facilities the Portopiccolo Group bought include the 12-acre St. Francis Nursing Care Center in Newport News for about $9.1 million and the four-acre Providence Place of DePaul in Norfolk for $6.8 million, according to online property records, along with the 3.2-acre Providence Place of Maryview in Portsmouth. Its purchase price was not listed in Portsmouth online property records, though the property was assessed for about $8.7 million in 2021.
“In December we transitioned ownership of our Hampton Roads post-acute and long-term care facilities to Accordius Health,” said Bon Secours spokeswoman Jenna Green in a statement. “Accordius Health has extensive experience in long-term care and a long history of providing compassionate care to residents and facilities within their facilities.”
The Southampton Medical Center’s Skilled Nursing and Assisted Living facility in Franklin, was not part of the transaction, Green said.
The Portopiccolo Group has been making inroads in the Hampton Roads and Western Tidewater nursing home market for several years, also acquiring facilities in Courtland in Southampton County and Sussex County in 2020 under the Accordius Health umbrella, and it received approval in 2020 to open a 157-unit senior housing facility on a 9.2-acre property in York County.
While not disclosing a reason for the sale, Green said Bon Secours continuously looks at ways to adapt to changing issues in healthcare.
“Bon Secours has a long history of providing a variety of high-quality senior-focused programs and services across its ministry,” Green said. “It has been our privilege to care for thousands of patients and residents. Health care continues to be dynamic, and we are continuously talking with health care providers, both inside and outside our current footprint, to share best practices and better understand how we can provide the highest level of care, including for post-acute services.”