A few weeks after arranging the sale of 17 skilled nursing facilities in Ohio, the Blueprint Healthcare Real Estate Advisors team of Connor Doherty and Ryan Kelly sold a SNF in the Dayton, Ohio MSA. Called Good Shepherd Village, the facility was built in the 1960s and thoroughly renovated in the 1990s. Operations were sold, but ownership decided to exit the industry while taking advantage of the seller’s market in skilled nursing. For context, the numerous buyers chasing relatively few facilities on the market led the average price per bed to rise to a near-record of $98,000 per bed in 2021, according to our recently published 27th Edition of The Senior Care Acquisition Report. That price rise came during a time of great operational upheaval across the sector, as buyers sought higher yielding transactions.
This Ohio facility had historically stable cash flow but offered the opportunity to attract higher acuity patients. A private equity owner/operator based in New York but with a strong presence in the regional market emerged as the buyer, paying more than $6.7 million, or around $83,000 per bed.
