With all the difficulties in securing debt, visiting properties and obtaining third-party approvals, let alone the financial uncertainty of purchasing a senior care property right now, deals are still getting done, and Blueprint Healthcare Real Estate Advisors announced the closing of six senior care transactions in a three-day span. Those transactions totaled more than $76.6 million too. We’re sure it took a lot of creativity and some long nights to get over the finish line, so well done.
The deals closed at the end of the second quarter and into the third, a typically busy time for dealmaking normally, but this represented a 50% increase over Blueprint activity during the same three-day span in 2019 and a 100% difference from 2018. Among the deals were a couple of skilled nursing sales, including two skilled nursing facilities in Texas and one 120-bed SNF in Kentucky. The rest of the closings were on the seniors housing side and included a 190-unit seniors housing campus in Oregon, a 32-unit assisted living community in Michigan, a 126-bed assisted living/skilled nursing property in Maryland owned and operated by a not-for-profit, and a large assisted living campus in New York. But there’s more. Since the release, Blueprint also closed on the sale of a 48-unit memory care community in Connecticut. When it rains, it pours.
That brings Blueprint’s 2020 total to 38 closed transactions, so far. There are also over $900 million of seniors housing deals in the marketing stage and another $975 million in pending transactions. So, we’ll be hearing more from Blueprint, and soon.
