Blueprint Sells Pair of Massachusetts Communities
Blueprint Healthcare Real Estate Advisors found a new owner for two seniors housing communities in Massachusetts, also introducing the buyer to a lending intermediary to help the deal close. Connor Doherty, Amy Sitzman, Ryan Kelly and Giancarlo Riso handled the sale, which was a rare one these days in that it featured two stabilized properties. Combining for 195 units, the communities are located across the state in Fall River (built in 1997 with 90 units) and West Springfield, the latter being a former 1890s-era monastery that was converted to a 105-unit assisted living/memory care community in 2001. Occupancy was strong, exceeding 96%, and combined EBITDAR was approximately... Read More »
Blueprint Announces Two SNF Deals
Two Blueprint Healthcare Real Estate Advisors teams helped a couple of institutional owners divest or find new tenants for their senior care assets. Michael Segal and Gideon Orion first represented a REIT in the re-leasing of its 143-bed skilled nursing facility in San Antonio, Texas. Built in 1967 about 15 minutes north of downtown, the facility maintained a four-star rating from CMS, the highest in the area. Despite three regional hospitals within 10 miles of the facility and its enrollment in the state’s QIPP managed Medicaid program, the SNF struggled with census. Part of a larger portfolio owned by the REIT and operated under a master lease structure with the... Read More »
Blueprint’s Two Buckeye Sales
Blueprint Healthcare Real Estate Advisors handled a couple of senior care sales in the state of Ohio comprising a total of four properties. Connor Doherty, Michael Segal and Ryan Kelly handled the larger transaction, which featured three skilled nursing facilities located in Canton, Toledo and Rockford. That’s about 200 miles across the state. Originally built in the 1960s and 1970s with significant renovations and upgrades since 2015, the facilities comprise more than 300 beds. They were well maintained, and the consolidated performance was steadily improving along with its occupancy until COVID-19 hit. At the onset of the pandemic, the REIT owner and operating partner... Read More »
Diversicare Healthcare Services Exits Florida Market
Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors handled the sale of a skilled nursing facility in Wauchula, Florida (about 40 miles southeast of Tampa). Consisting of 79 beds, the facility was originally built in 1980 and expanded in 1990. Owned by a REIT, this was the last facility operated by Diversicare Healthcare Services in the state, according to public records. Historically, it had consistent operations, which were trending positively before COVID-19 hit and did not deteriorate during the pandemic. But being a non-core asset in Diversicare’s portfolio, the facility was slated for sale to a pre-identified buyer looking to... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
