Blueprint Closes Wyoming Transaction
It’s not often we see Wyoming deals come across our desks, but Blueprint Healthcare Real Estate Advisors just announced one for a 120-bed skilled nursing facility in Casper. Previously owned by a national owner/operator of more than 150 SNFs across the country, the facility was facing a years-long occupancy decline. In-place cash flow was also negative, and during the marketing period, the facility both landed on the SFF list and graduated from it. The good news for the buyer was that the well-maintained facility had strong historical operations, with past revenue and EBITDAR exceeding $9.8 million and $2.1 million, respectively. That attracted a respected national owner/operator, who paid... Read More »
Blueprint’s Good Samaritan Sale
The Evangelical Lutheran Good Samaritan Society, a not-for-profit owner/operator, sold three of its skilled nursing campuses in northwest Illinois, near the Iowa border. Totaling 214 skilled nursing beds and 65 independent living/senior apartment units, the portfolio was well maintained and boasted good local reputations. The buyer will look to manage expenses and boost operational synergies to improve their performance. Plus, the new operator, Allure Healthcare Services, has plenty of experience with rural skilled nursing facilities in the area, which should certainly help. Amy Sitzman and Michael Segal of Blueprint Healthcare Real Estate Advisors handled the transaction on behalf of Good... Read More »
Blueprint Sells Boutique Assisted Living Portfolio
Brooks Blackmon of Blueprint Healthcare Real Estate Advisors used his Southeast expertise to sell a portfolio of four boutique assisted living communities in Alabama. The small communities, which were all built in the late-1990s, were deemed to be non-core by the skilled nursing-focused owner/operator. In addition, they were operating around breakeven and offered a value-add opportunity to a new owner. After confidentially approaching three groups that showed interest, Mr. Blackmon secured the buyer, an Alabama-based owner looking to grow its presence in the state. Read More »
Blueprint Sells Turnaround Texas Asset
A memory care community in need of a total turnaround just sold in the Turtle Creek neighborhood of Dallas, Texas. Ben Firestone and Joshua Salzman of Blueprint Healthcare Real Estate Advisors represented the seller, a publicly traded REIT whose national operator partner deemed the community to be non-core. The 32-unit community was both too small and too old, in addition to operating with low occupancy and no positive cash flow. It was also in need of significant capital expenditures to allow it to compete in its albeit highly desirable location. Despite operational hurdles throughout the transaction process, the value-add community eventually sold to Iris Senior Living, a growing local... Read More »Schedule a demo
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