Blueprint Healthcare Real Estate Advisors was tasked with facilitating the sale of a skilled nursing facility on behalf of a New York-based real estate investment firm. The transaction was handled by Ryan Kelly, Steve Thomes, Connor Doherty and Andrew Sfreddo, and it involved a bifurcated process between Blueprint’s Seniors Housing & Care group and Blueprint’s Behavioral Healthcare group.
Known as South Dennis Health Care, the facility encompasses 128 beds and is situated in Dennis, Massachusetts. Both skilled nursing investors and alternative use investors were targeted as potential buyers, with Housing Assistance Corporation Cape Cod, a not-for-profit, emerging as the winning bidder. HAC has developed a capital expenditure plan to renovate the facility and convert it into housing in accordance with Housing Assistance Corporation’s multi-year strategic plan to address the lack of sufficient housing in the area. However, no other details were disclosed.
The current nursing home operator will continue to lease the facility allowing them time to work with state health officials to relocate the residents and wind down their business operation in accordance with established state regulatory requirements.
