Blueprint is pleased to announce the successful sale of Southwest Nursing & Rehabilitation Center, a 198-bed skilled nursing facility and West Side Campus of Care, a 240-bed skilled nursing facility both located in Fort Worth, Texas. Amid unforeseen headwinds resulting from the uncertainty of Texas Minimum Payment Amount Program, Blueprint was able to pivot its marketing campaign to obtain top value for its client, a well-known and respected family in the skilled nursing facility business in Texas since the mid-70’s.
Through a highly targeted bidding process, the seller received 15 qualified offers. Ultimately, a Los Angeles-based real estate private equity firm with an operating partner emerged as the winning bidder. The total purchase price for the two facilities was $27.5 million, and the closing took place within 60 days of agreement execution by the parties.
Tim Cobb and Steve Thomes partnered with Blueprint’s Texas expert Josh Salzman to close the transaction.