120-bed skilled nursing facility located in the Appalachian town of Pikeville, Kentucky along the Levisa Fork of the Big Sandy River

Built in 1979 and renovated in 1987, the facility featured mostly semi-private room accommodations

The facility maintained steady census levels above 90% and generated consistent revenues exceeding $9 million even with relatively high insurance costs

The operator was motivated to exit after previously engaging in a sale process prior to the REIT’s acquisition and subsequent leaseback of the facility through a larger portfolio transaction completed in Q4 2019

Blueprint utilized a focused marketing strategy on behalf of the REIT seller and approached five pre-selected buyer prospects that ultimately resulted in three competitive offers

The seller and Blueprint secured above market transaction terms at an attractive price point from a local operator eager to grow its presence in Eastern Kentucky

Blueprint kept all parties on track, including the lender, to successfully close the transaction through considerable operational and regulatory challenges facing the industry due to the pandemic