Address: 103 SW 9th St, Wilburton, Oklahoma, US
Created date: September 5, 2023
Date last updated: September 5, 2023
Plains Commercial has been retained as the exclusive marketing adviser for the sale of Latimer Nursing Home (Latimer) in Wilburton, Oklahoma. Offers will be evaluated based on price, terms, and investor qualifications.Latimer offers investors an opportunity to acquire a value-add SNF at well below replacement cost. The current operational plan focuses on a very specific resident population with little Medicare residents. As such, Latimer has lower than capacity in-place census. At the current occupancy, the facility offers significant upside through further lease-up and flexibility for an operator to implement their desired operational model with minimal disruption to the current resident population.Additionally, Oklahoma is reportedly working on a $57/day Medicaid rate increase. If implemented as proposed, this would bring the average Medicaid rate in Oklahoma to approximately $246/day. This offers significant upside with the in-place Medicaid resident population by making no census or operational change at all. Located in the rural community in eastern Oklahoma of Wilburton, the facility is located about a one hour and fifteen minute drive from Fort Smith, Arkansas and about a 2 hour drive from Tulsa, Oklahoma. This offers convenient access for any travel needs, access to major healthcare providers, and potential resident populations in addition to the surrounding rural communities.