Nursing facility in Alexandria sells for $13 million
- March 8, 2018
The Mt. Vernon Nursing and Rehabilitation Center in Alexandria has sold to a publicly traded REIT for $13 million.
Avison Young, which announced the sale, represented the seller, a local family owner/operator who is leaving the industry. Avison’s Jim Kornick, principal; and Dan Baker, vice president, handled the transaction.
According to Avison, the 45,654-square-foot skilled nursing facility at 8111 Tis Well Drive generated 12 offers and secured a price $1 million higher than the original list price.
Avison Young said in a news release that the new owner plans to lease the facility, which has 69 rooms and 130 licensed beds, to a large regional operator with which the REIT has an existing relationship.
The center offers a range of rehabilitative, skilled nursing and therapy services. It is located within walking distance of the Inova Mount Vernon Hospital and is close to five medical office buildings with 47 physicians.
According to Avison Young, which did not disclose the name of the REIT, the new owner plans to invest millions of dollars in capital improvements.