Re-Lease, Re-Use, Recover
Lease of a former skilled nursing facility in Connecticut
Blueprint utilizes broad market reach to identify addiction recovery center provider to lease shuttered SNF
Blueprint represented the long-standing REIT client to identify a tenant for a legacy asset that was no longer operating as a licensed skilled nursing facility.
With 66 beds reverted to the State of Connecticut following closure of the asset, the vacant building was the perfect fit for the growing addiction recovery provider.
Despite the attractiveness of the location and physical structure, attaining the zoning designation for use as a recovery center proved onerous.
After a long and complex process, the zoning board approved the center and the tenant moved forward to execute the lease with the REIT.
Blueprint effectively managed the process from marketing the asset to negotiating the transaction documents and managing the timeline of the zoning process. All parties worked collaboratively to the finish line.