The large, multistory facility was originally built in 1970 and completely renovated and expanded in 2013. The nearly 100,000 square foot facility was later acquired as part of a large portfolio transaction in 2016 and the lessee was retained to continue operating the portfolio.
Blueprint’s strategy focused on identifying a highly-qualified and capable buyer willing and able to strike quickly at a top-of-market price. Blueprint pinpointed a single owner/operator actively growing its market presence in the Nashville submarket. By showcasing the extensive physical plant improvements and state-of-the-art upgrades, Blueprint positioned the offering to the prospective buyer as a unique and exclusive opportunity with tremendous upside for the group’s growing regional platform. Blueprint worked closely with the buyer to produce a compelling offer which was negotiated expeditiously. All parties then worked together to creatively navigate certain transactional challenges encountered during the sale process.
The purchase price was $16,000,000, or $134,454 per licensed bed, smashing the previous per-bed record for a single-facility transaction in the state of Tennessee.
The transaction was handled by Ben Firestone and Michael Segal.