PIKEVILLE, Ky. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Signature HealthCARE of Pikeville, a 106-bed skilled nursing facility, for an undisclosed price.
Pikeville is located in Eastern Kentucky, near the Virginia and West Virginia borders. The community was built in 1970 and is less than a mile from the recently expanded Pikeville Medical Center. Occupancy was consistently above 90 percent at the time of sale.
The owner, a publicly traded REIT, and operator, a Kentucky-based healthcare provider, both sought to strategically divest the asset. The buyer was a growing investor-operator partnership seeking their first skilled nursing property in the state.
In addition to orchestrating the sale, Blueprint negotiated a buyout of a ground lease on the property held by a group of local investors. Ben Firestone, Christopher Hyldahl, Michael Segal and Gideon Orion led the Blueprint team.