Avison Young Arranges $13M Sale of 45,654 SF Skilled Nursing Facility in Virginia

ALEXANDRIA, Va. —Avison Young has arranged the sale of the Mt. Vernon Nursing & Rehab Center, a 45,654-square-foot skilled nursing facility in the Washington, D.C. suburb of Alexandria, for $13 million.

A publicly traded REIT purchased the 130-bed rehabilitation center from a local family owner-operator looking to leave the sector. The REIT will lease the facility to a large regional operator that already has a relationship with the new owner.

Avison Young’s Jim Kornick and Dan Baker represented the seller in the deal. The new owner plans to invest millions in capital improvements to attract more residents.

According to Avison Young, the community sold at $1 million over asking price despite negative NOI, thanks to its five-star CMS rating and partnership with Inova Health Systems.

More News