One for the Rhode
Sale of 154-bed skilled nursing & long-term care facility in Rhode Island
Unyielding persistence fuels Blueprint to close Rhode Island SNF sale through mounting adversity
Located in the Providence MSA less than one mile from the now vacant Memorial Hospital, Pawtucket Center is a 154-bed skilled nursing and long-term care facility built in 1978, expanded in 1997, and renovated in the early 2000s.
Pawtucket Center is well positioned in the local market to maintain and capitalize on longstanding relationships with the area’s top referral sources. While performance levels fluctuated in recent years, the REIT seller engaged Blueprint to market and sell the facility.
Blueprint’s marketing process generated several competitive offers from both in-state and out-of-state prospects, with a New Jersey-based entrepreneur partnered with a reputable regional operator chosen as the definitive buyer. The operator is a new entrant to Rhode Island and rebranded the facility as Pawtucket Falls Healthcare Center.
Blueprint persevered through performance volatility amplified by the COVID-19 pandemic and kept all parties focused and invested to successfully close the transaction.