Cascade Capital Group Buys Iowa Long-Term Care Portfolio For $85 Million

Cascade Capital Group, LLC, a private equity firm, acquired a portfolio of 29 long-term care properties in Iowa from ABCM, which is exiting the senior care market. The 29 properties have 2,349 skilled nursing beds and 326 assisted living units. The deal value was reported at $85 million.

Cascade manages about 300 long-term care facilities in 19 states. The facilities have about 30,000 licensed beds.

The deal with ABCM had been slated to close in late 2023. Financing and regulatory issues led to delays. In addition to owning and operating 29 skilled nursing and long-term . . .