DePaul Healthcare has sold two Philadelphia nursing homes and one in Absecon, N.J., to Paramount Care Centers, of Lakewood, according to Institutional Property Advisors, which brokered the deal.
The parties did not disclose the prices, but Philadelphia real estate records listed the combined sales price as $5.82 million for the 49-bed Angela Jane Pavilion in the Rhawnhurst section of Northeast Philadelphia and the 120-bed River’s Edge Pavilion in Torresdale.
A price for Absecon Manor could not be obtained.
The sales closed on May 31.
DePaul Healthcare is part of the DePaul Group, of Flourtown. The business has a heavy highway construction and residential development division and owns the Spring Mill Country Club, according to the DePaul Group web site. The group also owns five assisted living facilities in New Jersey and Pennsylvania, the web site says.