---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-098886"
form_type: "8-K"
ticker: null
cik: "0001310383"
company_name: "Summit Healthcare REIT, Inc"
filed_at: "2024-09-11T23:59:59+00:00"
generated_at: "2026-05-31T05:23:40.703610+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Summit Healthcare REIT sells three California skilled nursing facilities for $30M; IRR over 50%

## Summary
- Sale of 191-bed skilled nursing portfolio in San Bernardino County for $30M closed Sept 6, 2024.
- Net cash proceeds of ~$14.9M after repaying $15M CIBC loan and expenses.
- Internal rate of return (IRR) on the sale exceeded 50%.
- Sold to affiliates of current operator; no outside brokerage used.
- CEO Elizabeth Pagliarini says sale advances strategic plan and shareholder value.

## SEC filing metadata
- accession: 0001104659-24-098886
- form_type: 8-K
- cik: 0001310383
- company_name: Summit Healthcare REIT, Inc
- filed_at: 2024-09-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1310383/000110465924098886/0001104659-24-098886-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1310383/000110465924098886/tm2423644d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-098886
- JSON: https://secwatch.observer/filing/0001104659-24-098886.json
- Plain text: https://secwatch.observer/filing/0001104659-24-098886.txt

## Key facts
- M&A Transactions
  Summit Healthcare REIT, Inc completed a disposition involving affiliates of the current operator of the facilities for $30.0 million (closed 2024-09-06).
  - Action: disposition
  - Counterparty: affiliates of the current operator of the facilities
  - Consideration: $30.0 million
  - Closing: 2024-09-06
  source text: On September 6, 2024, Summit Healthcare REIT, Inc. (the “Company”) completed the sale of three skilled nursing facilities in California (“CA3 Properties”), which were held through wholly owned subsidiaries, to affiliates of the current operator of the facilities (“Buyer”) for an aggregate purchase price of $30.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1310383/000110465924098886/0001104659-24-098886-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.