Chuny Herzka’s Emerald Group paid $161 million for a set of Boro Park nursing homes from Daryl Hagler’s Centers Healthcare as part of a $1.7 billion deal.
Lakewood, New Jersey-based Emerald Group acquired three Brooklyn nursing home facilities from Centers for $296 million this week, records show. The deal was financed by a $240 million loan administered by Huntington Bank.
The properties consist of a 504-bed Boro Park Center at 4915 10th Avenue, the Brooklyn Center for Rehabilitation and Nursing at 170 Buffalo Avenue and the Bushwick Center for Renal Dialysis at 51 Georgia Avenue and 50 Sheffield Avenue.
The buildings had a rapid appreciation in value since Hagler bought them. Hagler purchased the 354-bed Boro Park property for $19 million in 2011 and added an additional 150 beds to the property.
Emerald also purchased two properties in the Bronx this week from Hagler for $35.75 million at 1540 Tomlinson Avenue and 1010 Underhill Avenue, records show.
PincusCo first reported the news about the Brooklyn sale. Emerald Group, Centers and Hagler did not return requests to comment.
The deal is part of Emerald’s massive $1.7 billion deal to acquire Centers Healthcare portfolio, the Promote previously reported. Centers, which is owned by entrepreneurs Hagler and Kenneth Rozenberg, operates more than 45 nursing homes with most located in New York.
In 2024, Hagler and Rozenberg settled a lawsuit brought by New York Attorney General Letitia James for $45 million. The AG alleged the business partners used over $83 million in Medicaid and Medicare funds to enrich themselves while residents faced horrid conditions. In January, the state of NJ sued Hagler and Rozenberg, and 31 additional family members after an investigation uncovered they diverted tens of millions of dollars in Medicaid funds to themselves.
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