Blueprint Negotiates Sale of 114-Bed Skilled Nursing Facility in Tennessee

COLLIERVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Poplar Oaks Rehabilitation and Healthcare Center, a 114-bed skilled nursing and long-term care facility.

The facility is located in Collierville, southeast of Memphis near the Mississippi border. A publicly traded REIT sold the property to an undisclosed buyer. The price was not released.

The property was built in 1970 near a local hospital. Although the property was well maintained and had considerable upside, it suffered from limited cash flow, an expiring ground lease and an operator going through bankruptcy proceedings.

The new owners amended and extended the ground lease, and installed a new, regional operating team from Clearview Healthcare Management.

Ben Firestone and Michael Segal led the transaction for Blueprint.