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Take It to the Riverbank
Sale of 99-bed skilled nursing facility in Riverbank, California
Blueprint is pleased to announce the successful sale of Riverbank Nursing Center, a 99-bed skilled nursing facility located in Riverbank, California. As a result of a strategic marketing process, a competitive bidding environment was formed and Blueprint negotiated an all cash list price offer of $6,000,000. The negotiated terms included an immediate nonrefundable deposit of $1,000,000 and a 10 day period for the locally based buyer to conduct due diligence and close.
At the time of sale, total revenue and EBITDA were approximately $5,700,000 and $240,000, respectively.
The unit mix consisted of 3 privates, 15 semi-privates, and 22 three-bed rooms.
The offering was positioned as a value-add opportunity in an underserved market and drew attention from both regional and national owner-operators.
The transaction closed as required by the negotiated terms just 10 days following offer acceptance by the seller.
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