NASHVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of three skilled nursing facilities in Western Kentucky for $18.7 million.
Nashville-based Diversicare Healthcare Services Inc. sold the 252-bed portfolio amid concerns about the rural locations and regulatory risks of skilled nursing. Two of the facilities recently underwent significant renovations.
Greystone provided $18.4 million in interest-only bridge financing to fund the acquisition. The two-year loan feature two six-month extension options, and the application to HUD has already been filed. Fred Levine, managing director in Greystone’s Monsey, N.Y., office, originated the transaction on behalf of The Portopiccolo Group.
The portfolio consists of a 94-bed facility in Glasgow, a 60-bed facility in Fulton, and the 98-bed Clinton Place in Clinton. Each offers short-term rehabilitation services as well as complex medical, long-term care, memory care, and respite care. All three properties are currently operated by Clearview Healthcare Management.
Ben Firestone and Michael Segal of Blueprint led the transaction.