Business
Selectis Health Completes Sale of Sparta and Warrenton Health & Rehabilitation Facilities in Georgia
Selectis Health Completes Sale of Sparta and Warrenton Health & Rehabilitation Facilities in Georgia.
About this update from Selectis Health,inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Selectis Health Completes Sale of Sparta and Warrenton Health & Rehabilitation Facilities in Georgia\r\n \r\n \r\n\r\n\r\nSelectis Health Completes Sale of Sparta and Warrenton Health & Rehabilitation Facilities in Georgia\r\n- Sparta and Warrenton Nursing Facilities and Related Property Sold for $13.18 Million -\r\n\r\n\r\n\r\n\r\n\r\nDENVER, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Selectis Health, Inc. (OTC: GBCS) (\"Selectis\" or the \"Company\") announced its wholly-owned subsidiaries, Providence HR, LLC and Atl/Warr, LLC (each a “Seller”), have completed the sale of two properties located in Georgia, including the skilled nursing facilities known as Providence of Sparta Health & Rehab (collectively, “the Sparta Facility”), located in Sparta, Georgia, as well as Warrenton Health & Rehabilitation (collectively, “the Warrenton Facility”), located in Warrenton, Georgia. This sale was officially completed on January 15, 2026 and is the consummation of a definitive Purchase and Sale Agreement (the “PSA”) originally announced on December 9, 2025. Pursuant to the PSA, The Woods at Sparta of Journey Propco LLC (the “Sparta Facility Purchaser”) and Warrenton Woods of Journey Propco LLC (the “Warrenton Facility Purchaser”) has purchased the two facilities for an aggregate purchase price of $13,175,000. After the payment of the senior mortgages, transaction costs and a $1.3 million holdback, the Company derived approximately $5.4 million in proceeds from this sale. From those proceeds, the Company has expended: \r\n $475,000 to settle title issues\r\n $1.8 million to redeem outstanding senior secured notes\r\n $700,000 to reduce capital lines of credit used to pay accrued outstanding bed taxes on Sparta and Warrenton\r\n $700,000 to retire a mortgage on another facility that matured on December 30, 2025\r\n The remaining balance of the proceeds will be used for general working capital. Adam Desmond, CEO of Selectis Health, stated “The completed sale of our Sparta and Warrenton facilities affirms our commitment to rightsizing our business and has allowed us to prioritize stability across our remaining facility portfolio. Our balance sheet continues to strengthen which we expect to improve our operating results moving f...