Michael Segal and Daniel Waldhorn of Blueprint were engaged by a Michigan-based owner/operator to facilitate the off-market sale of two of its skilled nursing facilities in Michigan. The facilities were deemed geographic outliers, motivating the seller to shift focus to its holdings in metro Detroit and the greater Saginaw submarkets.
The sale included 110-bed Aria Nursing & Rehabilitation in Lansing and 82-bed Allegra Nursing & Rehab Center in Jackson. At the time of sale, both facilities were generating positive cash flow with combined census and quality payor mix above 80% and 30%, respectively. Blueprint approached a limited number of potential buyers, procuring an acquisition offer from a large regional provider with an existing footprint in the state and a reputation for quality care.
