After more than 71 years of stewardship, Spang Crest Manor will be sold by Luthercare at the end of the year.
Luthercare communications director Amy Kenn said in a press release that a sale to Tryko Partners is expected to be finalized by Dec. 31.
Tryko Partners is a New Jersey-based investment group that owns more than 7,000 multi-family units and operates nearly 6,000 skilled nursing and assisted-living beds, according to the firm’s website.
Marquis Health Consulting Services, which supports Tryko Partners skilled nursing portfolio, will provide “administrative and consulting services to ensure that residents continue to receive the same compassion care,” said Luthercare in a news release.
Kenn said there is no significant impact to residents or staff as part of the transition.
“All staff members will retain employment, though some may experience changes in roles or may be transferred to Luther Acres as part of our operational adjustments,” said Kenn. “These changes will ensure continuity of care and services.”
Luthercare said in the release that the decision to sell Spang Crest came after “careful evaluation” and was made as part of a “broader strategy to focus on areas of growth and ensure the long-term sustainability of our services.”
According to its 2023 tax return, Luthercare had a net loss for the year of $2.8 million. The nonprofit has not recorded a positive net income since 2014.
Spang Crest Manor opened in October 1953 as the Spang Crest Home.
A project of the Lutheran Service Society of Lebanon County, the home originally had a capacity of 18 residents. It was established on the Quentin Road estate of the late Mrs. Walter Strickler, who donated the property for the establishment of a church home in Lebanon County.
The facility was significantly expanded in the 1970s, at which point its address became 945 Duke St.
Luthercare said that it is committed to ensuring a smooth transition.
“The new owners share our values and dedication to compassionate care, and we will share further details as they become available,” said Luthercare in a statement. “As always, we remain committed to transparent communication with all stakeholders.”
Terms of the deal are not being disclosed.
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