Existing operator emerges as winning bidder in Blueprint sale process
Located 20 minutes northwest of Spartanburg in Inman, South Carolina, Magnolia Manor is a 176-bed skilled nursing and long-term care facility representing over 40% of the total licensed beds in the local market and twice the capacity of the next largest competitor.
Magnolia Manor was leased by a partnership to a large East Coast-based provider that also operates another facility in the area. Operational performance was consistent at near-stabilized levels, so the provider was interested in retaining operations.
The sellers engaged Blueprint for its industry-leading sale activity and expertise to conduct an efficient sale process targeting prospective buyers that were aggressively seeking acquisition opportunities in the state.
In just two weeks, Blueprint’s initial marketing efforts yielded five competing offers from qualified acquirers.
Following a second round of bidding amongst the chosen finalists, during which both qualitative and quantitative aspects of all offers were carefully considered, the in-place operator ultimately prevailed, securing the winning bid.