Blueprint Closes Two SNF Sales
Blueprint Healthcare Real Estate Advisors’ Connor Doherty and Ryan Kelly announced two recent SNF closings. We’re used to the pair working on deals in the Buckeye State, but the first transaction consisted of a 50-bed/19-unit private-pay skilled nursing facility and independent living community in Cape Cod, Massachusetts. Named The Terrace Orleans, the facility was originally built in 1968 and was fully renovated in 2000. A Massachusetts-based operator seeking to grow its regional presence was selected as the buyer, and this purchase marks the operator’s first facility real estate acquisition. No purchase price was disclosed. The second transaction involved the sale of two skilled nursing... Read More »
Blueprint Closes Sale of Rural Washington Community
Blueprint Real Estate Advisors is closing 2021 with a slew of deals, including Blake Bozett’s sale of a 40-unit assisted living community in Prosser, Washington. Built in 1999, Amber Hills Assisted Living underwent a $2 million expansion in 2016. It has a nearly 30% Medicaid census, and the community was positioned as a value-add opportunity, with occupancy fluctuating during the transaction process. The seller is a local group who has been in the senior living industry for decades but will focus their energy on different business endeavors, and the buyer is a regional owner/operator, which will look to increase the assisted living unit count through a... Read More »
Blueprint Closes Two More Deals
What a week it was for Blake Bozett of Blueprint Healthcare Real Estate Advisors. In the same week that he closed an assisted living community sale in Nampa, Idaho, he and his wife welcomed their first child! We know the latter announcement is probably more important to him, but we’ll focus on the former here. Mr. Bozett facilitated the sale of Streamside Assisted Living and Memory Care, a 79-unit assisted living and memory care community located outside of Boise. Built in 2006, Streamside saw a healthy operating margin around 30% and stable occupancy in the 80s, even during the pandemic. The local sellers have been in the industry for over 20 years but are selling in order to focus on... Read More »
OHI Sells Two Michigan Properties
Omega Healthcare Investors divested a couple of small assisted living communities in the state of Michigan, hiring Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors to handle the sale. Built in the late 1980s and 1990s with renovations in the early 2000s, the communities are located in Marshall and Mt. Pleasant, operating under the Maplewood brand by Laurel Health Care. They were well maintained with occupancy surpassing 95% prior to the pandemic. Laurel decided to exit its only assisted living communities in order to focus on its skilled nursing business, prompting the exit. Several in-state operators submitted competitive offers but an entrepreneur with a... Read More »Schedule a demo
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