Two IL Communities Secure Acquisition Financing
BMO’s Healthcare Real Estate Finance group announced it closed on a $34 million facility for affiliates of Focus Healthcare Partners to finance the acquisition of Novel Place at Overland Park, a 109,000-square foot, 134-unit independent living community in Overland Park, Kansas, and Novel Place at Blue Springs, a 109,000-square foot, 134-unit independent living community in Blue Springs, Missouri. The communities were each originally developed in 2020 and were each around 95% occupied. Focus has hired Evolve Senior Living to manage the communities. Read More »
Five Guardian SNFs Change Hands
After a federal bankruptcy court approved the sale of eight Guardian Healthcare skilled nursing facilities around Pittsburgh, Pennsylvania, the five non-HUD facilities have now successfully sold to a regional owner/operator. Those facilities include Belair Healthcare and Rehabilitation Center in Lower Burrell, Eldercrest Healthcare and Rehabilitation Center in Munhall, Guardian Healthcare Meadowcrest in Bethel Park, Oak Hill Healthcare and Rehabilitation Center in Greensburg and Guardian Healthcare Highland View in Brockway. They total 299 beds and were built between 1964 and 1992, with subsequent additions completed at each location. The eight-facility portfolio was originally marketed by... Read More »
Alternative Use Investor Acquires in Virginia
An alternative use investor bought a small memory care community in Williamsburg, Virginia. For some communities, the original layout is simply not conducive to strong operations, whether it be too many studio units, jack-and-jill bathrooms or an inefficient design. Originally built in 2017, this community features three separate cottages with 16 private units in each. That pod model created operational challenges due to staffing regulations from the state, and despite renovating each building in 2022 and 2023, the previous owner, after just three years of ownership, decided to sell. That seller, English Meadows, had acquired the community in 2021 for reportedly more than $5.5 million, or... Read More »
Public REIT Divests to National Owner/Operator
Blueprint was engaged by a public REIT in the sale of a 159-bed skilled nursing facility near downtown Huntsville, Alabama, less than two miles from two prominent hospitals. Recent physical plant upgrades have enhanced the facility’s amenities. The REIT is divesting due to the facility being the only remaining asset its tenant operated in the state. While the facility once boasted a healthy NOI with strong margin, it struggled to recover to historical levels. However, its strong past performance and the growth of the Huntsville MSA helped garner attention from national and local owner/operators, public REITs and private equity buyers across the country. Blueprint procured seven competitive... Read More »
Ensign Acquires in Wisconsin
Blueprint represented a not-for-profit client in the divestment of its seniors housing community in Wausau, Wisconsin. Founded in 1980 by the Diocese of La Crosse and acquired by Benedictine in 2012, Benedictine Living Community – Wausau comprises 82 skilled nursing and long-term care beds. Connor Doherty and Ryan Kelly of Blueprint handled the transaction, positioning the value-add offering with distinct and material paths to upside. Blueprint marketed the offering to not-for-profit and for-profit providers, procuring five competitive offers from for-profit investors, owner/operators and REITs. The Ensign Group was ultimately selected as the buyer and rebranded the community as... Read More »Schedule a demo
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