Lease of 143-Bed SNF in San Antonio
Blueprint structures lease for Texas facility on behalf of REIT pursuing operator transition
Blanco Villa Nursing and Rehabilitation is a 143-bed skilled nursing and long-term care facility built in 1967 and situated 15 minutes north of downtown, near San Antonio International Airport.
The 4-star CMS rated facility is the highest rated in the area, yet census levels remained below market despite three large regional hospitals located within 10 miles and its enrollment in the state’s QIPP managed Medicaid program.
As part of a larger portfolio owned by the REIT and operated under a master lease structure with the exiting tenant, the landlord sought a quality replacement operator to improve census and performance levels taking advantage of the facility’s Year Three QIPP enrollment.
Blueprint identified a growing provider with a presence in Houston to successfully transition facility operations under a modified lease arrangement with the REIT.