A well-maintained skilled nursing facility located about 20 minutes north of Lawrence, Kansas sold for significantly below replacement cost in a deal arranged by Amy Sitzman, Giancarlo Riso and Michael Segal of Blueprint Healthcare Real Estate Advisors.
Why such a low price? Other than the obvious risks of purchasing a skilled nursing facility these days, this was the only Kansas facility of the West Coast-based owner/operator. There was also upside in census, expense management and case mix at the 60-bed facility. So, Blueprint brought the deal to an owner/operator that it had worked with before and could guarantee a high degree of closing certainty. Completing the due diligence and CHOW processes, the team closed the deal at the end of July.
This follows Blueprint’s sale of a 50-bed skilled nursing facility in Flagstaff, Arizona (for the highest per-bed price seen in at least five years), but there are a couple more to come, including another Arizona sale and one in Ohio. Stay tuned.
