Pawtucket, RI — A 45,000-square-foot commercial property that houses a longstanding local nursing home has been sold for $15.27 million, according to newly filed public records.
The two-story building at 544 Pleasant St., built in 1940, is currently home to AdviniaCare Pawtucket. The facility had operated for years under the name Oak Hill Center before a recent change in ownership and branding.
A Transition in Operators
AdviniaCare — a senior living operator based in Stoughton, Mass., and also known as Pointe Group Care LLC — announced earlier this year that it would acquire the 129-bed nursing home business from Centers Health Care, a for-profit operator. State health officials approved the $1.49 million transaction for the business operations in late January, clearing the way for the operational handoff.
That move set the stage for the real estate deal, which has now closed.
Details of the Property Sale
According to a special warranty deed, the property was sold by Oak Hill Realty Associates, a Bronx-based limited liability company. State corporate filings show the entity is affiliated with Yehuda Alpert, associate general counsel for Centers Health Care, along with other company officers.
Oak Hill Realty Associates had owned the site since 2017, when it purchased the building for $6.35 million, public records show.
The buyer, Pawtucket RI Property Holdings LLC, is a Delaware-registered entity tied to Menachem Shabat, co-founder and managing director of Cascade Capital Group, a private health care real estate investment firm based in Skokie, Ill., according to state filings.
Property Valuation and Site Details
City tax records list the nursing home facility and its 1.2-acre site at a combined assessed value of $5.79 million. The land itself carries a valuation of $1.29 million, and the property includes roughly 10,000 square feet of paved parking.
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