Sale of four skilled nursing and long-term care facilities in Texas
Blueprint leverages market knowledge and key relationships to execute multi-facility sale in Texas
The skilled nursing and long-term care facilities spread throughout the Lone Star State were REIT owned and operated by an in-state provider experiencing notable financial challenges. As the REIT moved to wind down its relationship with its operator, Blueprint was selected to market the facilities for sale.
The four facilities are licensed for a combined 340 beds with two built in the late 1960s and early 1970s and two built in 2000. Located in suburban and rural areas with relatively low average market census, three of the facilities benefited from enrollment in Year Three of the state’s managed Medicaid program (QIPP).
Blueprint’s marketing process procured written offers from a growing in-state provider as well as a large national owner-operator, with the optimal sale scenario emerging as a bifurcation of the portfolio with facilities sold separately.
Blueprint ensured both buyers closed the respective transactions without delay and worked closely with the exiting operator throughout the sale and transition process.