Blueprint Closes Dallas-Area Deal
The COVID-19 pandemic was really ramping up in mid-March when Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors managed to close the sale of a memory care community in the Dallas-Fort Worth area of Texas. Featuring 60 units of assisted living and memory care, the community is located in an affluent area, with the median housing values more than 44% higher than the Dallas MSA average. Built in 1997 with over 44,200 square feet, the community targeted the middle market, but its occupancy was trending towards 75% at the time of the sale. It was also operating at breakeven. Working on behalf of the institutional owner/operator seller, Blueprint marketed the... Read More »
Two Southeast Sales from Blueprint Healthcare Real Estate Advisors
The team at Blueprint Healthcare Real Estate Advisors announced a couple of deals that closed earlier this year. The M&A market was a little different back then, close to a peak in terms of pricing and definitely at a peak for activity. Seems like just yesterday. First, Ben Firestone, Michael Segal and Trent Gherardini sold a portfolio of three assisted living/memory care communities on Florida’s Gulf Coast. Featuring a majority-private pay census and historically operating near stabilization, the properties were recently impacted by the high level of new development in southwest Florida. Given what we have heard of the level of groundbreakings around Naples, Sarasota and Tampa, that... Read More »
Blueprint Sells Two Value-Add Properties
In the middle of all of their meetings in San Diego, two Blueprint Healthcare Real Estate Advisors teams announced a couple of recent sales. Connor Doherty, Brian Payant and Ryan Kelly first represented a regional owner/operator in its disposition of a 120-bed skilled nursing facility in Akron, Ohio. Maintaining historically stable cash flow, but an opportunity to capitalize on PDPM with a higher acuity census, the facility was purchased by a New York-based private equity group with a strong local presence. They paid $8 million, or $66,700 per bed. Then, in the first sale of a multi-state portfolio deal, Dan Mahoney, Amy Sitzman and Blake Bozett sold a 39-unit assisted... Read More »
Blueprint Sells Jacksonville SNF
Trent Gherardini of Blueprint Healthcare Real Estate Advisors facilitated the sale of a 120-bed skilled nursing facility in Jacksonville, Florida. Representing the long-time private owner/operator, he found a buyer in a private ownership group that paired with a regional operator to acquire the property. The purchase price came to $12.6 million, or $105,000 per bed. Originally built in 1967, the facility is located in the heart of Jacksonville. Historically, it operated well, and EBITDAR was trending even higher during the sale process. The buyer must have liked that momentum and will hope to capitalize on it going forward. Read More »Schedule a demo
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