HEALTH AND REHABILITATION <HRP> BUYS FACILITIES
Health and Rehabilitation
Properties Trust said it has reached an understanding to
purchase three skilled nursing facilities in Massachusetts and
Connecticut for 29 mln dlrs, and lease them back to Greenery
Rehabilitation Group Inc <GRGI.O> of Cambridge, Mass.
    Health and Rehabilitation Properties said The facilities
are Beverly Nursing Home, a 160 bed facility in Beverly, Mass,
Liberty Pavillion Nursing Home, a 160-bed facility in Danvers,
Mass, and New Lakeview Convalescent Home, a 210-bed facility in
Chesire, Conn.
   
    Health and Rehabilitation Services said each of the
facilities provides skilled nursing care to medically demanding
geriatric patients.
    Health and Rehabilitation Services said the buildings will
be leased back to Greenery for an initial term of seven years,
subject to renewal options for an additional 23 years. The
transaction is expected to close on or before August 31.
    Health and Rehabilitation said the facilities are now
operated by Greenery Rehabilitation, which owns 9.9 pct of
Health and Rehabilitation's outstanding shares.
 Reuter
