Blueprint was engaged by an established owner seeking a desire to divest its skilled nursing facility in Ohio. Originally constructed in 1920 as the original site of McKinley High School, the facility was converted to skilled nursing in 1984. The facility suffered from low Medicaid reimbursement rates, and it was struggling from an occupancy standpoint.
Connor Doherty and Ryan Kelly handled this transaction, structuring an off-market lease with a purchase option with an acquirer seeking to expand its presence in northeast Ohio. The structure protected ownership’s downside while granting the incoming operator, and eventual purchaser, operational runway to access debt by stabilizing operations.
This closing marks over 200 total transactions and $2.2 billion of transaction volume for the team of Doherty and Kelly since 2014.
