PruittHealth recently announced that it acquired a community in Winston-Salem, North Carolina. Built in 1997, Forest Heights Senior Living (now known as PruittPlace – Winston Salem) features 99 units with 104 beds of AL, MC and respite care services. Residents can choose between AL services in private studios or one-bedroom suites, and MC in private or shared studios. With the addition of this community, PruittHealth now owns or operates 13 AL communities in the Southeast.
Blueprint facilitated the sale on behalf of a national, REIT-affiliated owner/operator seeking to strengthen its portfolio by divesting certain challenged properties. Kyle Hallion, Kory Buzin and Steve Thomes handled the transaction.
This non-core asset experienced prolonged operational volatility, including muted census growth and staffing-related expense pressures. But the seller had recently invested around $2 million in capital expenditures from 2021 to 2023, including a full interior refresh, new roof and boiler replacement. The asset saw a highly competitive marketing process with multiple competitive offers.
Blueprint advised the seller to move forward with PruittHealth, a large, Georgia-based regional owner/operator that has an extensive footprint in the region. Its existing presence includes higher acuity facilities and ancillary service companies, making the acquisition accretive to its broader network.
