Coronado Ridge Skilled Nursing and Rehabilitation Center, based in Nevada, was sold for $33M, while Forest Healthcare Properties brokered three separate portfolio sales involving a total of 20 facilities in Kentucky and Ohio.

$33 million sale of Nevada Nursing Home

 JLL Capital Markets completed the $33 million sale of Coronado Ridge Skilled Nursing and Rehabilitation Center, a 121-bed skilled nursing facility in Henderson, Nevada, formerly known as Horizon Ridge.

JLL’s Seniors Housing Capital Markets team, in conjunction with Managing Director Mark Wintner, represented the seller, a joint venture between CREC Real Estate LLC and The Calida Group. The sale represents one of the highest prices per bed for a skilled nursing facility in Nevada history.

Coronado Ridge is positioned on a 2.3-acre site at 2855 West Horizon Ridge Pkwy in the growing Las Vegas suburb of Henderson. The property is well-positioned to receive discharges from the area’s primary hospitals, including Dignity Health – St. Rose Dominican Siena Campus. In addition, it sits across the street from a 132-unit seniors housing community and a 62-unit memory care facility, both of which are synergistic uses to Coronado Ridge.

Completed in 2017, Coronado Ridge is a two-story facility offering 90 resident rooms with 121 licensed beds. The 68,873-square-foot property offers parking for 80 vehicles, interior courtyards and dining areas.

Sale of portfolios involving 20 facilities

Forest Healthcare Properties (FHP) closed three separate transactions in January. All 20 of the facilities closed in the first month of 2025.

First, FHP facilitated the sale of a 106-bed skilled nursing facility in Auglaize County, Ohio, that was built in 1984 and was 85% occupied. The seller was a real estate investment firm looking to exit the state, and the buyer was Care Core Health, which has nine other health care properties in Ohio and was looking to expand.

FHP additionally helped facilitate the transaction of a Kentucky skilled nursing portfolio in an off-market transaction. The portfolio features over 1,000 beds, and the facilities were well-positioned with strong in-place cash flow, FHP said in a press release. The seller was a large company with one asset left in the state, and the buyer is a company with over 60 SNFs, has a footprint in several other states but was looking to enter Kentucky.

Lastly, FHP closed on a package of six Ohio buildings and 568 beds throughout Ohio. The sellers looking to divest these properties approached FHP. Majestic Care, a company looking to expand in Ohio where it has many assets, emerged as the buyer. 

Jeffrey Vegh and Joe Schiff handled the transactions.

Ignite Medical Resorts Expands in Oklahoma

Ignite Medical Resorts announced the acquisition of a building in Tulsa previously known as Cearu Medical Resort. The facility will now be known as Ignite Medical Resort Tulsa and will bring Ignite’s unique blend of luxury hospitality and cutting-edge rehabilitation to the Tulsa community.

This will be Ignite’s fourth location in Oklahoma, further solidifying its presence in the state.

Ignite Medical Resorts, which specializes in short-term rehabilitation and nursing care, offers varied clinical specialty programs and enhanced services in a five-star medical resort environment termed LuxeRehab.

“We’re excited to expand LuxeRehab to the Tulsa community and to continue to grow our vision of offering top-tier hospitality and care to our guests and an unmatched culture for our employees,” said Tim Fields, CEO and Co-founder of Ignite Medical Resorts, in a press release. “We look forward to working with the Tulsa team to make this resort another preferred place to go in Oklahoma after a hospital stay or surgical procedure and the preferred place to work.”

Ignite Medical Resorts will plan a large-scale renovation project including improvements to the common areas, décor, therapy gym, dining and to build a Luxe Café. Ignite will also enhance the facility with cutting-edge clinical and therapeutic technology, and advanced robotics equipment.

With this acquisition, Ignite Medical Resorts now operates in 25 locations across seven states, employing more than 3,700 team members. “Our focus remains on delivering exceptional clinical care and hospitality, ensuring our guests can recover quickly and return home with their spark back,” Fields said.

120-Bed SNF sold in Texas

Senior Living Investment Brokerage (SLIB) facilitated the sale of a skilled nursing facility located in Lubbock, Texas.

Offering 120 beds, the community is approximately 45,000 square feet and is situated on approximately 2.7 acres of land.

The seller is a local independent owner, who was leasing the property to a regional operator. Bender Terrace represents the seller’s only skilled nursing facility as it looks to exit the industry. Meanwhile, the buyer is a national owner-operator, who operates several skilled nursing facilities in Texas. 

SLIB was able to leverage the nationwide marketing platform to create a national, yet confidential market for this offering. There were multiple offers from both regional and national buyers to purchase this community.

Matthew Alley and Ryan Saul of Senior Living Investment Brokerage handled the transaction.

180-bed SNF sold in California

A notable international bank engaged Blueprint to oversee the sale of its interest in a 180-bed skilled nursing facility located in the Santa Rosa area of Northern California. The mortgage on the facility was in default despite the facility’s strong historical operating performance and occupancy.

The facility demonstrated extremely high top-line revenue, strong-per-patient day revenues, and robust in-place cash flow, positioning it as a top performer in its submarket. Catering to both short-term rehabilitation and long-term care residents, the facility meets the strong demand for skilled nursing services in the region.

Blueprint’s marketing efforts highlighted the facility’s strong financial performance, operational efficiency, and potential for sustained returns, highlighted by the scarcity of acute skilled nursing beds in this part of California. The campaign garnered widespread interest from California-based and national owners/investors alike. An experienced California-based owner/operator was ultimately selected as the buyer.

222-Bed Tennessee SNF Sold

Blueprint was chosen by The Trousdale Foundation, a non-profit owner and operator based in Cleveland, Tennessee, to handle the off-market sale of Westmoreland Health and Rehabilitation Center, a 222-bed skilled nursing and long-term care facility in Knoxville.

Westmoreland Health and Rehabilitation Center was originally built in 1959 and is optimally situated near University Health System, which comprises the University of Tennessee Medical Center.

Following the facility’s census drop due to the pandemic, occupancy and payor mix steadily rebounded year-over-year generating continuously improving cash flow and operating margin. While Westmoreland maintained a strong local reputation amongst its referral sources, the facility was listed on the Special Focus Facility Candidate List during the sale process.

Because ownership preferred a confidential and direct marketing approach, Blueprint conducted limited and strategic market outreach to select owner/operators with an existing presence in the state.

Through its creative deal structuring, Blueprint secured a compelling acquisition proposal from a growing, regional provider that worked closely with Blueprint and Trousdale throughout the process to consummate the transaction to kick off the New Year.

The note sale transaction closed at the agreed-upon purchase and ahead of schedule. This transaction further underscores Blueprint’s ability to successfully tackle complex transactions and deliver results for our clients.