By Kate Snyder
A nursing home in Des Moines traded hands in a show that investors are continuing a streak of sales activity in the Puget Sound region. The nursing home, called Stafford Healthcare, was sold by an entity affiliated with Stafford Health Services for $18.2 million, or approximately $110,303 per unit, according to King County property records. The buyer was an entity affiliated with The Ensign Group.
Located at 2800 S 224th St., the nursing home totals 165 units, according to property records. The two-building campus is positioned on nearly two acres of land, west of Interstate 5 and east of Pacific Highway S. In the surrounding area are local businesses, municipality services and several apartment buildings.
Through its independent operating subsidiaries, The Ensign Group, Inc., provides services in nursing and senior living as well as physical, occupational and speech therapies and a multitude of other rehabilitative and healthcare offerings across the country, according to the firm’s website. Each of these operations is operated by a separate, independent operating subsidiary that has its own management, employees and assets. As part of its investment strategy, the company also acquires, leases and owns healthcare real estate. The firm is based in San Juan Capistrano, Calif.
Stafford Health Services has operated since 1945 in providing assisted living communities to municipalities throughout the Puget Sound area. The firm has operations in Kent, Port Orchard and Sumner. The company is based in Federal Way.
The recent trade is not Stafford’s first in the region.
Several years ago, Stafford sold The Lunde Center Industrial Park in Bellevue for $12.5 million, or roughly $200 per square foot, according to previous reporting from The Registry. The buyer was Olympia-based Koelsch Senior Communities, a family care facility. The property comprised three buildings located at 2110, 2112 & 2120 116th Ave NE, totaling about 62,379 square feet.
