A public REIT selected Blueprint Healthcare Real Estate Advisors to sell The Laurels of Willow Creek, a 120-bed skilled nursing and rehabilitation facility located in the Richmond, Virginia, suburb of Midlothian. Michael Segal and Ben Firestone handled the deal.
Built in 1991, with an addition completed in 2018, the facility features 36 private and 42 semi-private units. It had been well maintained and demonstrated consistent performance with stable census and cash flow.
Virginia’s Medicaid rate enhancement made the facility even more attractive to buyers, and another REIT ultimately bought the asset. Blueprint successfully closed the transaction in approximately 60 days.
