Blueprint advises the sale of 120-bed skilled nursing facility in Virginia to achieve optimal execution
Located just off Interstate 81 in rural Southwest Virginia, Carrington Place at Rural Retreat is a dually certified facility constructed in 2015. The facility’s census stabilized shortly after opening and the operator subsequently executed its below market option to acquire the real estate.
While maintaining high performance metrics, ownership decided to exit and take advantage of Virginia’s red-hot acquisition market.
Blueprint was selected for its market expertise, executing a highly targeted process which yielded several competitive proposals to acquire the facility. The chosen buyer was an owner-operator based in the Northeast and eager to enter the Mid-Atlantic, specifically the Commonwealth of Virginia.
The pandemic caused severe census and performance fluctuations throughout the transaction process, however the seller proactively managed the crisis and recovered stable census levels leading up to closing.
Blueprint played an integral role throughout the process to keep all parties motivated and focused to efficiently complete the transaction.