The Ensign Group Purchases Two Facilities in Washington
Rhea-AI Summary
The Ensign Group (ENSG) has announced multiple strategic acquisitions across Washington and California. Through its real estate subsidiary Standard Bearer Healthcare REIT, the company acquired Emilie Court Assisted Living (60 units) in Spokane, WA and Mother Joseph Care Center (152 beds) in Olympia, WA. These properties will be operated by third-party operators under long-term triple net leases.
In separate transactions, ENSG acquired Pacific Haven Subacute and Healthcare Center (99 beds) in Garden Grove, CA, including both real estate and operations. Additionally, the company obtained operational control of Alamitos West Health and Rehabilitation (142 beds) and Katella Senior Living Community (68 units) in Los Alamitos, CA, under third-party landlord leases.
These April 1, 2025 acquisitions expand Ensign's portfolio to 343 healthcare operations, including 44 senior living facilities across 17 states, with 143 owned real estate assets.
Positive
- Strategic expansion with 5 new facility acquisitions across multiple states
- Addition of 521 total beds/units to portfolio
- Growth of real estate asset portfolio through Standard Bearer REIT
- Diversification of revenue streams through mix of owned and leased properties
Negative
- Increased financial obligations from multiple acquisitions
- Dependency on third-party operators for Washington facilities performance
News Market Reaction 1 Alert
On the day this news was published, ENSG gained 1.38%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN JUAN CAPISTRANO, Calif., April 02, 2025 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies, other rehabilitative and healthcare services, and real estate, announced today that through subsidiaries of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, it acquired the real estate to Emilie Court Assisted Living, a 60-unit senior living facility located in Spokane, Washington; and Mother Joseph Care Center, a 152-bed skilled nursing facility located in Olympia, Washington. Each of these facilities will be operated by a third-party operator and are subject to long term triple net leases. These acquisitions are two of eight buildings that Ensign agreed to purchase last year, some of which closed last month and some that will close in coming months.
“We are delighted to add these two facilities to Standard Bearer’s growing portfolio in the Northwest.” said Barry Port, Ensign's Chief Executive Officer. “One of the purposes of Standard Bearer is that it provides us a pathway to acquire real estate portfolios and to operate the portions that are a fit for us as operators while also partnering with other talented operators that have a similar mission and values that we have. We are very excited to work together with our new tenant and look forward to completing similar transactions with them and others in the future.”
In a separate transaction on the same day, Ensign announced that it acquired the real estate and operations of Pacific Haven Subacute and Healthcare Center, a 99-bed skilled nursing facility located in Garden Grove, California. The real estate was acquired by a subsidiary of Standard Bearer and the business will be operated by an Ensign-affiliated tenant.
Ensign also acquired the operations of Alamitos West Health and Rehabilitation, a 142-bed skilled nursing facility, and Katella Senior Living Community, a 68-unit senior living facility. Both facilities are located in Los Alamitos, California and subject to a long-term, triple net lease with a third-party landlord.
These acquisitions are effective as of April 1, 2025, and bring Ensign's growing portfolio to 343 healthcare operations, which includes 44 senior living operations, across 17 states. Ensign subsidiaries, including Standard Bearer, own 143 real estate assets. Mr. Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, senior living and other healthcare related businesses throughout the United States.
About Ensign™
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 343 healthcare facilities in Alabama, Alaska, Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, Oregon, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net.
Contact Information
The Ensign Group, Inc., (949) 487-9500, ir@ensignservices.net
SOURCE: The Ensign Group, Inc.
FAQ
How many facilities did The Ensign Group (ENSG) acquire in Washington state in April 2025?
What is the total number of healthcare operations in ENSG's portfolio after the April 2025 acquisitions?
How many California facilities did ENSG acquire in the April 2025 announcement?
How many real estate assets does ENSG own through its subsidiaries after these acquisitions?
What is the operational structure for ENSG's newly acquired Washington facilities?
