Blueprint Healthcare Real Estate Advisors sold a skilled nursing facility in West Chester, Pennsylvania, on behalf of a joint venture partnership seller. West Chester Rehabilitation and Healthcare Center comprises 180 beds and 102,000 square feet on 14 acres just north of Wilmington, Delaware, and west of Philadelphia. New ownership will take advantage of the state’s July 2022 announcement to significantly increase Medicaid reimbursement. The increase is effective starting in 2023 and will include $500 million to long-term care facilities, the largest such increase during a single Pennsylvania budget cycle.
According to Levin Pro LTC, this is Tryko Partners’ third skilled nursing acquisition in the state since the start of 2022 and sixth in the Mid-Atlantic region. Michael Segal, Steve Thomes, and Brooks Blackmon of Blueprint handled the transaction, which closed less than 90 days from definitive agreement execution.
