MARYSVILLE, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of Milcrest Nursing Center, a 50-bed skilled nursing facility in the Columbus suburb of Marysville, for $2.6 million.
A publicly traded REIT and a regional operator both sought to divest their interest in the property. The buyer was a real estate investor looking to expand its healthcare presence.
Milcrest was built in 1968 and renovated in 1998. Despite its size and featuring only semi-private rooms, the facility was generating $3 million per year in revenue due to its proximity to the local hospital and good location near downtown Maryville.
The purchase price equates to $52,000 per bed. Blueprint’s Ben Firestone and Michael Segal sourced the buyer, and Connor Doherty led the negotiations on the transaction.