Regional Health Properties (NYSE: RHE) successfully completed the sale of four skilled nursing facilities in Alabama, Georgia, and Oklahoma for $28.5 million, Blueprint Health Care Real Estate Advisors announced last week.
The deal, originally announced last month, initially consisted of three properties for $26.1 million; closing on the fourth property had been extended to late August.
The Chicago-based Blueprint was commissioned to conduct a review of Regional’s entire portfolio and find places for the company to restructure its balance sheet.
The buyers, affiliates of MED Healthcare Partners, bought only the real estate associated with one facility each in Alabama and Georgia and two in Oklahoma; all existing operators will be retained, according to a statement announcing the deal.
Blueprint’s Brooks Blackmon, Trent Gherardini, and Ben Firestone served as lead advisors for the deal.
Medical Properties Trust Buys Shuttered Long-Term Acute Care Hospital from Welltower for $2M
An affiliate of the real estate investment trust (REIT) Medical Properties Trust, Inc. (NYSE: MPW) bought the former Post Acute Specialty Hospital of Milwaukee building in Greenfield, Wis., for $2 million, BizTimes Media reported.
The building, which is assessed at $11.1 million according to city records cited by the publication, was sold by the Toledo, Ohio-based Welltower (NYSE: WELL).
The 62-bed hospital was closed in April; the facility had previously been part of the Pennsylvania-based long-term acute care hospital network Post Acute Medical, LLC and provided care to patients in need of extended recovery time after an acute hospital stay.
$60M SNF Completed in White Plains, N.Y.
The White Plains Institute for Rehabilitation and Healthcare, a $60 million five-story SNF in White Plains, N.Y., was recently completed and will begin taking patients in the fall.
The facility will be operated by Epic Healthcare, under the ownership of White Plains Health Care Properties of Peabody, Mass.
The facility was completed in a joint venture with Peabody-based Congress Building Corp. and Consigli Construction of Pleasant Valley, N.Y.