A couple of older skilled nursing facilities sold in Missouri and Arkansas after their regionally-based, not-for-profit owner decided to scale back on its operations. General Baptist Healthcare owned the two facilities. Built in the 1960s, General Baptist Nursing Home of Piggott in Piggott, Arkansas, is licensed for 105 beds. The other facility, General Baptist Nursing Home of Campbell in Campbell, Missouri, was built in the 1970s with 90 licensed beds. Occupancy had suffered in the buildings through the pandemic and was beginning to slowly climb in the facilities, currently standing at 33% at Piggott and 67% at Campbell.
Emerging through multiple other bids, the ultimate buyer was a Northeast-based owner/operator with an operating footprint in the region who was looking to grow their portfolio. Through the contract period, the buyer and seller worked through timing and operating hurdles to facilitate a smooth closing and operational transition. Daniel Morris with Plains Commercial handled the transaction.
