Brooks Blackmon of Blueprint Healthcare Real Estate Advisors arranged the sale of a portfolio of seven skilled nursing facilities located in Alabama. The properties presented an opportunity for a buyer to expand an existing footprint in the state, as well as to improve the operations across the portfolio.
Totaling more than 800 beds, the facilities averaged close to 50 years old. Two campuses were renovated in the late-1990s, and one more recently in 2018. They were cash flow neutral at the time of the sale. A long-term care operator in the state stepped in the buy them. Having closed plenty of deals in Alabama, Mr. Blackmon utilized his knowledge of the local market and of the state’s licensure process to bring the transaction to a successful close.
