Investor Purchased Four Virginia Nursing Homes
A New York-based buyer acquired four facilities for $165.2 million in transactions finalized through September 2026.
Updated on Oct. 12, 2026 in Healthcare
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David Katz of Brooklyn finalized the acquisition of four Virginia nursing homes for a total of $165.2 million. The final set of sales closed on September 3, 2026.
Why it matters
The acquisitions represent a significant change in ownership for these facilities, which are now managed by Prestige Healthcare Administrative Services. The shift follows a history of operational challenges at one of the acquired locations.
The four properties sold for a combined $165.2 million, with the Forest Avenue facility fetching $56.3 million and the Colonial Heights site selling for $49 million. The Hopewell and Airport Drive facilities sold for $32.5 million and $27.4 million, respectively.
The players
David Katz
He is a Brooklyn-based buyer who acquired four nursing homes in Virginia through various LLCs.
Prestige Healthcare Administrative Services
This organization currently manages the four nursing homes involved in the recent property sales.
Medical Facilities of America
This entity owned the nursing home properties prior to the transfer of ownership to the new buyer.
The details
Medical Facilities of America transferred ownership of the nursing homes to distinct LLCs linked to David Katz. While Prestige Healthcare Administrative Services currently manages these sites, the Colonial Heights location previously faced scrutiny after a 2024 patient death and subsequent criminal charges against staffers.
Timeline
A patient death occurred at the Colonial Heights facility in 2024.
The Colonial Heights property sale closed on August 6, 2026.
The Hopewell property sale closed on August 13, 2026.
The two Henrico County property sales closed on September 3, 2026.
Market Landscape
This acquisition aligns with the broader trend of private investment groups purchasing long-term care facilities from traditional operators. It marks a significant shift in regional facility control as individual properties move into larger management networks.
Residents and their families should contact facility administrators to confirm any changes to local service levels or care protocols under the new management. The rebranding and ownership transfer may also affect administrative procedures for new and existing patients.
The takeaway
The change in ownership highlights the importance of monitoring facility management transitions in the nursing home sector. Families are encouraged to verify current oversight policies whenever a change in property ownership or management occurs.
Further reading
For more information on industry shifts, visit the Virginia Healthcare section.
Source note: This article includes information reported by Richmond BizSense.
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