FRANKLIN, Tenn. — CFG Capital Markets has sold Claiborne Hughes Health Center, a 157-bed skilled nursing facility located in the town of Franklin, Tenn., for $7.5 million.
The facility is located approximately 30 minutes south of Nashville and is one of five licensed skilled nursing facilities in the county. The building was originally constructed in 1949 as a high school and converted into a SNF in 1981.
Claiborne Hughes was sold for $47,770 per bed to a private investor group. Proceeds were used to fully retire HUD mortgage debt and other liabilities. Michael Burchell, Mike Coiro and Samer Tahboub were the advisors on the transaction representing the seller.
“We worked very closely with the nonprofit Board and management at Claiborne Hughes to position the facility for a sale that would generate significant interest from potential buyers,” says Burchell. “The private investor group understood the business and was able to recognize the future potential of the opportunity.”