An acute-care operator based in New York is not only expanding its geographic reach, but also its acuity offerings. The company already owns several post-acute/senior care assets in New York, but is launching into the Midwest with the acquisition of a 200+-unit/bed senior care campus in the Toledo, Ohio area for an undisclosed price. Built in many stages from 1963 to 2006, the property mainly consists of skilled nursing beds, with a significant number of long-term acute care (LTAC) beds, as well as assisted living and independent living units. For over 30 years, a second-generation family member owned and operated the facilities, but they are leaving to focus on their existing assisted living operations in Ohio. The campus was left in good shape, and the buyer may be able to use its scale and high-acuity care expertise to cut expenses and maximize revenues from the LTAC and skilled nursing beds, but this is not always as easy as it sounds. Connor Doherty, Jacob Gehl and Brian Payant of Blueprint Healthcare Real Estate Advisors handled the transaction.
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