In the middle of all of their meetings in San Diego, two Blueprint Healthcare Real Estate Advisors teams announced a couple of recent sales. Connor Doherty, Brian Payant and Ryan Kelly first represented a regional owner/operator in its disposition of a 120-bed skilled nursing facility in Akron, Ohio. Maintaining historically stable cash flow, but an opportunity to capitalize on PDPM with a higher acuity census, the facility was purchased by a New York-based private equity group with a strong local presence. They paid $8 million, or $66,700 per bed.
Then, in the first sale of a multi-state portfolio deal, Dan Mahoney, Amy Sitzman and Blake Bozett sold a 39-unit assisted living community in Hayden, Idaho for an undisclosed price. The community was all-private pay but had recently struggled with occupancy. The seller managed to increase census by 20% during the transaction process, making for a much smoother handover. A regional owner/operator making its first acquisition in Idaho will take over the property.