Aurora Buys South Florida Senior Center Portfolio

Aurora Health Network has paid $30 million for a trio of senior facilities in Broward and Palm Beach counties. 

Affiliates of New York-based Aurora acquired a nursing home in Pompano Beach and two rehabilitation centers in West Palm Beach, according to records and Vizzda. Omega Healthcare Investors, a real estate investment trust based in Hunt Valley, Maryland, sold the properties.

Aurora paid $9.4 million for Aspire at the Sea, an 82-bed nursing home at 2401 Northeast Second Street in Pompano Beach. Omega paid $4 million in 2016. 

In West Palm Beach, the firm acquired the 120-bed Renaissance Health and Rehabilitation at 5065 Wallis Road for $7.6 million, and bought Coral Bay Healthcare and Rehabilitation Center, another 120-bed facility at 2939 South Haverhill Rd, for $13.8 million. Omega paid $8.6 million for Renaissance in 2016 and $3.3 million for Coral Bay in 2018. 

The Elliot Schwab-led Aurora focuses on healthcare real estate investments. The firm has more than 6,000 beds in facilities across the U.S., according to its website. 

South Florida has seen a handful of medical facilities trade hands in the past year. 

In May, a joint venture between Pointe Group Care and Allaire Health Services acquired Epworth Village Retirement Community and Susanna Wesley Health Center in Hialeah for $30.9 million. Affiliates of nonprofit Epworth Village sold the two properties. 

In January, Boyd Watterson Asset Management paid $38.2 million for a Veterans Affairs outpatient clinic in Sunrise for $38.2 million. Healthcare Realty Trust sold the one-story, 111,000-square-foot building on 9.3 acres. 

And in November of last year, nursing home investors Bent Philipson and Andrew Bronfeld bought Signature HealthCare Center, a 214-bed facility in Hialeah Gardens, for $43.2 million.