We don’t see too many transactions take just six weeks from engagement to closing, but the Blueprint Healthcare Real Estate Advisors team got it done for a Florida-based owner/operator seller. They were looking to divest two Florida skilled nursing facilities totaling 300 licensed beds and over 100,000 square feet, and after engaging Blueprint at the start of November gave them until the end of the year to close on an off-market sale.
These were high-quality facilities located near local medical centers in the towns of Palatka (Jacksonville MSA) and Ocoee (Orlando MSA). An undisclosed owner/operator bought the facilities for $51 million, or $170,000 per bed, showing just what buyers are willing to spend on high-quality, profitable SNFs these days.
Brooks Blackmon and Michael Segal worked on the deal for Blueprint, and Dwight Capital originated a $48.28 million bridge loan to fund the acquisition plus further improvements at the facilities.
