Still Rockin' & Rollin'
Sale of 96-bed skilled nursing facility in Richfield, Ohio
Blueprint is pleased to announce the successful sale of Pine Valley Care Center, a 96-bed skilled nursing facility located in Richfield, Ohio. Blueprint executed the transaction on behalf of a public REIT and national operator as part of a larger portfolio repositioning strategy.
Pine Valley is a well maintained but underperforming facility located between Cleveland and Akron in Northeast Ohio.
Formerly a perennial CMS Five-Star rated facility specializing in Alzheimer’s and dementia care, the facility recently encountered regulatory issues and subsequent census challenges.
As the operations were in the process of rebounding, Blueprint positioned the offering as an opportunity to capture significant revenue upside with an increased Medicaid reimbursement rate.