Blueprint Handles Large Alabama Deal
Brooks Blackmon of Blueprint Healthcare Real Estate Advisors arranged the sale of a portfolio of seven skilled nursing facilities located in Alabama. The properties presented an opportunity for a buyer to expand an existing footprint in the state, as well as to improve the operations across the portfolio. Totaling more than 800 beds, the facilities averaged close to 50 years old. Two campuses were renovated in the late-1990s, and one more recently in 2018. They were cash flow neutral at the time of the sale. A long-term care operator in the state stepped in the buy them. Having closed plenty of deals in Alabama, Mr. Blackmon utilized his knowledge of the local market and of the state’s... Read More »
Blueprint Handles Large Louisiana Portfolio Deal
So, it begins. Brooks Blackmon and Steve Thomes of Blueprint Healthcare Real Estate Advisors announced the firm’s first 2020 closing, selling a portfolio of five seniors housing communities in Louisiana. Representing the Georgia-based owner/operator who had originally developed the communities, the pair found a buyer in a joint venture between Griffin-American Healthcare REIT IV and Georgia-based Senior Solutions Management Group (SSMG). Built in the late-1990s, the communities boasted a good reputation in their local markets and historically stable operations. However, the previous owner was looking to refocus on development in their home state, so a sale was pursued. SSMG entered the... Read More »
Blueprint Sells Two Struggling Senior Care Facilities
Two Blueprint Healthcare Real Estate Advisors teams arranged a couple of sales of struggling senior care facilities. First, Christopher Hyldahl, Gideon Orion and Kendra Gonzalez represented a private real estate investor in its sale of a 50-bed skilled nursing facility in the Los Angeles, California market. Some $1.7 million was spent on capital improvements over the past three years, of which $800,000 was used to prepare the facility for the approval of 27 subacute care beds. The facility has strong per-patient day reimbursement rates and a good historical CMS star rating. However, it was losing money on about $4.25 million in top-line revenue and had over $250,000 in outstanding QA fees.... Read More »
Blueprint Sells Successful Senior Living Community in Missouri
Brooks Blackmon and Ben Firestone of Blueprint Healthcare Real Estate Advisors sprung into action this year in Springfield, Missouri, where the pair sold a 119-unit senior living community on behalf of a Missouri-based ownership group. Originally built in 2008, the property was expanded in 2012 to keep up with local demand. It now features 54 independent living, 48 assisted living and 16 memory care units. The expansion was also clearly a good idea, as occupancy stood at 99% and operating margins have been consistently high. In addition to acquiring that steady stream of cash flow, a buyer would also keep the successful in-place operator, Arrow Senior Living. A Florida-based private equity... Read More »Schedule a demo
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