Posted on: Thursday, January 1, 2004

Hale Nani nursing home sold

Advertiser Staff

Beverly Enterprises Inc. has sold the 288-bed Hale Nani Rehabilitation and Nursing Center on Pensacola Street.

The center is one of eight eldercare facilities sold by Beverly, the country's largest nursing home company. It divested or closed 89 facilities in 2003.

The price of the sale to Heritage Management Inc. was not disclosed.

Cash from the sales will be used to repay debt, and Beverly said it expects to have a "material" gain in the fourth quarter.