Blueprint Handles Record Sale In Oregon
We just recorded the highest-priced single-asset seniors housing sale in the state of Oregon, in a transaction handled by Blueprint Healthcare Real Estate Advisors’ Dan Mahoney, Jacob Gehl and Blake Bozett. The target is located in Portland and was originally developed in 1992 by the current seller. Also renovated in 2000, the community features 286 units of independent living, assisted living and memory care. Integral Senior Living has managed it since 2011, and managed it well, apparently, as it was 94% occupied with a 100% private pay census. We have also estimated it operated at a roughly 45% margin on approximately $13 million of in-place revenues. Strategic Student & Senior... Read More »
Blueprint Ends Active August With Corpus Christi Closing
Trent Gherardini wrapped up a busy month for Blueprint Healthcare Real Estate Advisors with the sale of a 204-bed skilled nursing facility in Corpus Christi, Texas. It was owned by a Florida-based owner for generations, but its lease with the existing tenant was coming to an end. Because the owner did not operate in Texas, the facility was deemed to be non-core. In addition, the facility was negatively affected by recent hurricanes, although with no major damage. It sold to a private owner/operator with a growing Texas portfolio. Read More »
Struggling SNFs Sell in the Rust Belt
Blueprint Healthcare Real Estate Advisors sold two skilled nursing facilities in the Rust Belt that had experienced some operational struggles. First, things were looking up for a 160-bed facility in Milwaukee, Wisconsin. After landing on the SFF list in 2014, which brought on a new third-party operator, the facility began to turn its operations (and cash flow) around by mid-2017. Built in 1965, it was renovated in 2011 to offer more private rooms and was situated only blocks from one of the largest full-service hospitals in the Milwaukee MSA. Its publicly-traded REIT owner determined the facility to be non-core and sold it to a Chicago-based investor for an undisclosed price. The buyer’s... Read More »
Blueprint’s Summer Bonanza
If you blinked, then you may have missed Blueprint Healthcare Real Estate Advisors’ five transaction announcements in just over 24 hours during the dog days of August, bringing the firm’s 2018 closings to 43, so far. That is just 10 off of their entire 2017 total. Chris Hyldahl, Ben Firestone, Gideon Orion and Michael Segal closed three transactions as a team, including the largest of the bunch, when they arranged the sale of nine skilled nursing facilities and 981 licensed beds to a private equity investor for over $81 million, or approximately $83,000 per bed. Formerly owned by a publicly-traded REIT and managed by a third-party operator, the facilities are the first part of a staggered... Read More »Schedule a demo
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