A not-for-profit provider of skilled nursing services in the Southeast deemed three of its facilities to be non-core, selling them to a regional operator. Located within an hour’s drive of one another, two of the facilities are located in the Hampton Roads, Virginia, market and one is just over the border in Currituck County, North Carolina.
Totaling 429 beds, they were all built in the late-1980s and offered a value-add opportunity to the buyer, especially as a reliable partner for the seller’s hospital discharges in the area. Steve Thomes of Blueprint Healthcare Real Estate Advisors led the transaction, which generated eight competitive offers. The final purchase price was not disclosed.