Beverly Sells Some Assets: Beverly Enterprises Inc....
From Times Staff and Wire Reports
Beverly Sells Some Assets: Beverly Enterprises Inc. of Pasadena said it has sold 42 nursing homes and a retirement center in Michigan for $90.7 million to Tendercare Inc. and Mercy Services for Aging of Detroit. Nationwide Health Properties Inc. will receive $33.4 million of the proceeds, $20.8 million will help pay existing mortgage debt and the rest will go to Beverly.
