Tryko Partners have acquired the Galilee Village, a 170-unit, HUD subsidized senior assisted housing complex in Levittown, Pennsylvania
. After one year, the firm has doubled their multifamily assets and has grown into one of the leaders in skilled nursing home management.
The complex is divided into two parts: The Village is a 120-unit building that offers traditional one-bedroom options, and the Pavilion is a 50-unit building with a studio apartment setting, offering assisted living services such as meals and transportation. In a deal with HUD, Tryko Partners have agreed to renovate the complex, with improvement to the kitchens, replacement of all unit windows, and sidewalk and parking lot repair.
In a statement, Uri Kahanow, Tryko's director of acquisitions said Galilee Village "already shows well, and we look forward to further improving the quality of its accommodations." He added that "Congregation Beth El has been extremely dedicated to Galilee Village residents throughout the years, and we are committed to continuing that tradition".