Blueprint executes Florida skilled nursing facility sale through bankruptcy auction
- Blueprint was selected to represent the non-profit debtor for the sale of Key West Health and Rehabilitation, the only licensed skilled nursing facility in Key West and subject to ongoing bankruptcy proceedings.
- The 120-bed facility is situated adjacent to Lower Keys Medical Center, the ground lessor to the skilled nursing facility, and was also encumbered by an existing HUD mortgage.
- Through a comprehensive marketing campaign, Blueprint generated considerable market interest and several competitive proposals, ultimately sourcing a qualified offer to acquire the facility free and clear, which prevailed over the stalking horse as the highest and best bid in the auction sale.
- The winning bidder worked closely with all parties to proactively address and overcome various challenges not limited to the operating environment during the COVID-19 pandemic.
- As some buyers and lenders were sidelined as industry headwinds persisted, the buyer and its lender remained resilient and determined, creatively tackling issues head-on to successfully close the transaction.