Sale of 177-bed skilled nursing facility in Rialto, California
Blueprint is pleased to announce the successful sale of Vista Cove Care Center at Rialto ("Rialto"), a 177-bed skilled nursing facility located in Rialto, California.
Blueprint utilized a targeted approach presenting the offering to a limited group of owners/operators, successfully extracting maximum value from a partnership between a New York-based real estate group and a Los Angeles-based regional operator.
At the time of sale Rialto was generating approximately $11 million and $1 million in total revenues and EBITDAR, respectively.
The purchase price was $14,135,000, or $79,858 per licensed bed, yielding an approximate cap rate of 7.3%.
The seller was a reputable, regional owner/operator of skilled nursing and long-term care facilities based in southern California.