Twenty-nine skilled nursing facilities in Iowa are under new ownership following the closing of a transaction this month.
Officials with ABCM of Hampton have sold their facilities to the Chicago-based private equity firm, Cascade Capital Group. The price tag for the sale is $85 million. The transaction represents the largest nursing home sale ever recorded in Iowa. The $85-million price equates to $36,000 for each of ABCM’s 2,346 skilled nursing beds and 326 assisted living units. In 2023, the ABCM firm employed more than 3,000 people at its care facilities in Iowa.
The 29 homes involved include those in: Allison, Aplington, Belmond, and Hampton in the broadcast area.
