Blueprint Healthcare Real Estate Advisors sold a 92-bed skilled nursing facility in Kenansville, North Carolina, to an experienced investor looking for growth opportunities for its operating partner in the Tar Heel State. Built in 1975, Kenansville Health and Rehab is located 75 miles southeast of Raleigh and adjacent to ECU Health Duplin Hospital. It had historically maintained stable census and cash flows, helped by the fact it had no direct local competition, but the facility saw census and margin decline after the pandemic.
Blueprint was engaged by a longstanding ownership group, led by a distinguished Georgia-based entrepreneur and philanthropist, to effectuate the facility’s sale after the facility’s tenant operator, SavaSeniorCare, notified the seller of its intent to downsize and ultimately exit the industry.
As the capital markets environment was rapidly shifting, Blueprint worked to align all parties, structuring the transaction through ever-changing lender sentiment, with operations transitioning seamlessly upon the successful closing.
