Continuing Blueprint Healthcare Real Estate Advisors’ active 2016, Steve Thomes and Chris Hyldahl were the lead advisors in the sale of a 123-bed skilled nursing facility in New Bedford, Massachusetts, owned by a New York-based national owner, for $4 million, or $32,520 per bed. Occupancy could be improved from 79%, but that will be the job of a regional owner/operator with a significant presence in eastern Massachusetts.
But wait, there’s more…in Massachusetts. Mr. Thomes, with the assistance of Michael Segal and Ben Firestone, sold an 87-bed skilled nursing facility to a regional owner/operator that is growing its Massachusetts portfolio. Really operating at 78 beds, the facility was 83% occupied with a 30% quality mix, both of which could be improved. Plus, the facility’s age (built in 1969) most likely brought its value down, and in the end, it sold for $4.0 million, or $45,977 per licensed bed.
