A publicly traded REIT divested a skilled nursing facility in Bennettsville, South Carolina, with an East Coast-based owner/operator adding to its existing in-state portfolio. Blueprint Healthcare Real Estate Advisors handled the transaction, following two other South Carolina sales closed by the firm in the second quarter. Those included a skilled nursing facility in Beaufort and an assisted living/memory care community in Florence. Amy Sitzman, Brooks Blackmon and Giancarlo Riso worked on the deal.
Similar to the Bayview Manor deal in Beaufort, the Bennettsville facility was constructed in several phases beginning in 1958 and featured 110 predominantly semi-private rooms. It maintained strong occupancy throughout the pandemic with census exceeding 93% in 2019 and through 2021, which remained steady throughout the transaction process.
Blueprint highlighted the opportunity to acquire a well performing facility with upside to incoming investors and operators seeking to expand upon an existing geographic footprint, or to enter the South Carolina market.
Emerging from eight competitive written offers, an East Coast-based owner/operator with a significant existing presence in the state bought the facility for an undisclosed price. On the day of closing, surveyors at the community delayed closing by one month while survey results were pending. However, there were no major issues that arose from the survey, and the transaction closed at the start of June.
