Pontus Capital, a California-based investment firm, has purchased the Oceans Behavioral Health building on Florida Boulevard for $1.6 million.
Oceans Healthcare of Lake Charles will continue its local operations and has signed a long-term lease for the building at 11135 Florida Blvd., said Michael Press, managing partner of Pontus, which is based in La Jolla, Calif. The sale was filed with the East Baton Rouge Clerk of Court’s office on Friday.
Oceans is looking to expand into Texas, Press said, and the sale and lease back generates some money for long-term growth. The Baton Rouge transaction was part of a deal in which Oceans sold hospitals in Alexandria and Opelousas to Pontus and leased the space back.
Oceans has 16 locations in Louisiana and Texas it operates or manages. The company specializes in psychiatric care for patients 55 and older, with a focus on dementia and other progressive mental illnesses.