Blueprint was enlisted in the divestment of eight senior care campuses concentrated in and around Eau Claire, Wisconsin. Five of the eight campuses are within an 11-mile radius, and all are within one hour from one another. The seller was Wisconsin-based owner/operator Dove Healthcare.
Featuring mostly five-star communities, the portfolio comprises 304 licensed SNF beds, 104 RCAC units and 118 CBRF beds, for a total of 526 units/beds. The portfolio benefited from significant statewide Medicaid reimbursement rate enhancements in Wisconsin, which were effective July 1. Additionally, since October 1st, 2022, rate increases across all portfolio private pay RCAC/CBRF residents ranged from 8% to 15%, generating further revenue upside for the buyer which helped to attain attractive financing terms.
Blueprint focused exclusively on reputable buyers with a focus on the state of Wisconsin, ultimately securing five LOIs. The buyer was a Wisconsin-focused owner/operator. Steve Thomes, Brooks Blackmon, Michael Segal and Lauren Nagle handled the transaction.
