After acquiring and turning around a skilled nursing facility in Alexandria, Louisiana, a mom & pop operator is selling the asset and entering into a well deserved retirement. Built in 1990 with a renovation in 2017, Regency House Alexandria features 60 skilled nursing beds and 10 assisted living beds. It only accepted Medicare and private pay residents and generated more than $1.5 million of EBITDAR at closing. There was also an assumable HUD loan on the property with an attractive interest rate, and even some upside with an increase to the facility’s Medicare census.
Blueprint procured multiple offers before a national owner/operator was ultimately selected by the seller. The acquirer was selected due to their existing presence in the state of Louisiana as well as their experience with the HUD TPA process. The purchase price was not disclosed, but given the performance, we imagine it was above average for the sector.
