Two Valley eldercare facilities have traded hands as part of a $378 million portfolio to an Orange County health care property owner.
Lake Balboa Care Center at 16955 Vanowen St. in Van Nuys, a nearly 13,000-square-foot skilled nursing facility built in 1958, and Chatsworth Park Health Care Center at 10610 Owensmouth Ave., a 47,000-square-foot skilled nursing facility, sold to Irvine health care real estate investment trust Sabra Health Care REIT Inc.
Sabra said it bought 21 properties last month and plans to buy another three by the end of the year in a deal totaling $430 million, in a Securities and Exchange Commission filing dated Sept. 25. The total transaction involves 2,216 beds, according to Sabra. Sixteen of the facilities are in California.