Pike’s Peak
Sale of 120-bed SNF in Eastern Kentucky

Blueprint executes concentrated campaign to secure maximum value for REIT client in face of pandemic

  • 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
Michael Segal
Senior Managing Director
Ben Firestone
Executive Managing Director & Co-Founder