WAYNE, N.J.—Private equity investment firm Tryko Partners has acquired Oak Ridge Rehabilitation and Nursing Center in Wayne, expanding its local skilled nursing portfolio. Renamed Arbor Ridge Rehabilitation & Healthcare Center, the facility will soon offer enhanced specialty care programming, including the introduction of a Korean cultural offering.
Located at 261 Terhune Drive, Arbor Ridge sits just three miles from Oakland Rehabilitation & Healthcare Center, another Tryko Partners-owned facility.
“Oak Ridge is a natural fit for us geographically,” noted Tryko’s Uri Kahanow, director of acquisitions, who spearheaded the purchase. “Plans are underway to modernize—and perhaps potentially expand—the physical plant and create market-specific programs that will complement what Oakland Rehabilitation & Healthcare Center already has in place. Ultimately, these facilities present two top regional choices for skilled nursing care.”
The 120-bed Arbor Ridge provides post-hospital care, short-term rehab and long-term residential care, and maintains a four-star rating from the Centers for Medicare & Medicaid Services (CMS). The property offers comfortable common and lounge areas, including a sunroom and a living room with fireplace. Outside, its attractive grounds feature gardens, courtyards, and scenic views of the Ramapo River.
Arbor Ridge Rehabilitation & Healthcare Center has retained the services of Marquis Health Services, Tryko Partners’ healthcare affiliate. The highly skilled and vision-driven nursing home administrative services company currently supports Mid-Atlantic and New England facilities totaling nearly 4,500 skilled nursing and assisted living beds, as well as more than 2,000 independent living residences. Together with a carefully assembled team of clinical, compliance, and financial consultants, Marquis and Arbor Ridge will create specialized programming to better meet local healthcare needs.
Among the immediate plans for Arbor Ridge is the establishment of a dedicated Korean cultural program. This offering will center on a culturally authentic environment for the care and comfort of Korean seniors. With the support of caregivers and medical professionals who share their values and speak their language, residents will enjoy familiar traditional décor, ethnic cuisine prepared in-house, and special cultural programming and recreational activities.
About Marquis Health Services
Marquis Health Services is a recognized leader in providing subacute rehabilitation and skilled nursing care. The company in 2018 marked a milestone year of record growth and currently operates 13 skilled nursing properties in the Mid-Atlantic region – including locations in New Jersey, Pennsylvania and Maryland. The organization’s growing portfolio also includes 10 facilities in New England. With three generations of skilled nursing involvement, Marquis Health Services has distinguished itself among a competitive field of skilled nursing facility operators by investing in its physical buildings to create modern, comfortable environments suited for the delivery of progressive rehabilitative services. The company builds on each facility’s distinct identity, developing specialty programming that meets the specific needs of the surrounding community. Marquis Health Services facilities consistently achieve high scores in state health inspections; today 75 percent of the Marquis Health Services portfolio has received four- and five-star ratings for outstanding care. Marquis Health Services is the healthcare affiliate of Tryko Partners, LLC, a private equity investment group that also purchases multifamily properties and tax liens in the Mid-Atlantic and Midwest regions.
About Tryko Partners
Tryko Partners, LLC is a private equity investment group based in Brick, N.J. The organization purchases multifamily properties, healthcare facilities and tax liens in the Mid-Atlantic and Midwest regions. Tryko maintains a long and respected track record as a property owner and operator. Founded in 1989, the company has established successful, long-term partnerships with both individual and institutional investors, as well as a wide network of relationships with financing entities. Today Tryko owns more than 7,200 residential units, including market-rate, affordable housing and age-restricted properties. The firm maintains an emphasis on healthcare investment opportunities, and 2018 marked a milestone year of record growth in this sector. Marquis Health Services, Tryko’s healthcare affiliate, now operates more than 3,000 beds at 23 Mid-Atlantic and New England skilled nursing facilities.
