Brooks Blackmon of Blueprint Healthcare Real Estate Advisors headed down to the bayou to sell a 120-bed skilled nursing facility in Oak Grove, Louisiana (near the border of Arkansas). Built in stages from the 1960s through 1987, the facility had been owned by multiple generations of a local family since its opening, and now they are seeking to exit the industry. Occupancy was just under 50%, and it was operating a little above breakeven.
Blueprint started the marketing process in late-2019, and a buyer was found in a Southeast-based regional owner/operator, but the pandemic led to numerous delays. Eventually, the deal closed with no purchase price reduction, although the final amount was not disclosed.
