Blueprint was enlisted by a not-for-profit joint venture, The Trousdale Foundation and its management company based in Cleveland, Tennessee, Trousdale Living Communities, Inc., in its divestment of a Tennessee skilled nursing facility.
Built in 1982, the facility comprises 81 beds on four acres approximately 10 miles south of Sweetwater Hospital. It is the only licensed provider in the city, and generated positive cash flow as a result of census growth and a recent Medicaid rate increase.
The facility never reached the marketing stage, as Blueprint presented options to the seller, which ultimately selected a New York-based provider that was looking to expand in Tennessee. The purchase price was $12.15 million, or $150,000 per licensed bed. Michael Segal, Ben Firestone and Daniel Waldhorn handled the transaction.
