Report says Hampton-based ABCM sold to private equity firm

HAMPTON — Reports say a Hampton-based nursing home corporation has been sold to a private equity firm.

According to the industry website “Skilled Nursing News”, the real estate brokerage firm Marcus & Millichap says the $85 million transaction to sell the ABCM Corporation to the Chicago-based private equity firm Cascade Capital Group has been completed.

ABCM’s 29 facilities represent about seven percent of the 410 nursing homes operating in Iowa.

Skilled Nursing News says the properties were marketed amid an evolving debt landscape before eventually going under contract with Cascade in the fourth financial quarter of 2023. Cascade manages 300-plus facilities across 19 states.

Among ABCM’s locations here in our immediate listening area include:

== Heritage Care & Rehabilitation Center in Mason City

== Oakwood Care Center & The Courtyard Independent & Assisted Living in Clear Lake

== Nora Springs Care Center and Summit Heights Independent & Assisted Living in Nora Springs

== The Rehabilitation Center of Hampton and Leahy Grove Independent & Assisted Living in Hampton

== Lake Mills Care Center and Mills Harbour Independent & Assisted Living in Lake Mills

== Westview Care Center in Britt

== Concord Care Center and Cardinal Grove Independent & Assisted Living in Garner

== The Rehabilitation Center of Belmond and Belle Haven Independent & Assisted Living in Belmond

== Rehabilitation Center of Allison and Elm Springs Independent & Assisted Living in Allison