Blueprint was engaged by a nationally recognized institutional private equity firm in its divestment of a skilled nursing facility in Philadelphia, Pennsylvania. Built in the early 2000s with significant renovations in 2022, the facility is certified by CMS for Medicare only. Following the completion of renovation, census continuously climbed towards stabilization. The incumbent operator was a seniors housing-focused manager also providing lower acuity senior care services on the adjacent campus.
Michael Segal, Jacob Gehl, Dillon Rudy and Daniel Waldhorn handled the transaction, targeting East Coast investors and skilled nursing-focused owners/operators with existing footprints in Philadelphia and surrounding markets. Multiple compelling offers from regional owner/operators seeking regional expansion were procured. There was a competitive bidding environment between two reputable providers in the market which drove the purchase price up. However, that price was not disclosed. Given the quality of the physical plant, the location and the all-Medicare census, we imagine it was a high figure.
