Blueprint Sells Jewish Senior Care Community in Ohio
Jacob Gehl, Connor Doherty and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors represented a not-for-profit senior care community in the Cincinnati, Ohio suburb of Mason in its sale to another not-for-profit entity. After first opening in 1997, the 267-bed/unit property was operated by the Jewish Home of Cincinnati and offers a full continuum of care, including independent living, assisted living, memory care and skilled nursing. However, in order to invest in new programs and services to serve Cincinnati’s Jewish seniors in the future, its Board of Trustees elected to sell. Blueprint found an Indiana-based not-for-profit buyer, which will hire CarDon & Associates to manage... Read More »
Five SNFs in The Tar Heel State Swap Owners
Hired to either find a buyer or a new tenant for a portfolio of five skilled nursing facilities with 638 beds in North Carolina, Chris Hyldahl and Gideon Orion of Blueprint Healthcare Real Estate Advisors did both, sort of. The transaction closed within 48 days of the offer acceptance with an operator/owner that already had a presence in North Carolina. The final structure was a new lease with an option to buy, and the tenant plans on exercising that option as soon as possible. Read More »
Large Skilled Nursing Portfolio Sells In Midwest
A publicly traded REIT decided to exit a number of secondary and tertiary markets in Illinois and Missouri, hiring Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors to get the job done. The portfolio featured 1,581 total licensed beds in 14 skilled nursing facilities, with 12 located in central and southern Illinois and two in Missouri. Several of the facilities were recently renovated to offer high-acuity, short-term rehabilitation care, and now currently feature a high number of private rooms. Each facility in the portfolio is also strategically located near primary referral sources. However, the REIT owner wanted to lessen its exposure in these markets and end... Read More »
Strawberry Fields Grows In Kentucky
Kentucky’s largest not-for-profit senior living and long-term care provider, Christian Care Communities, worked with Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors to sell its 92-bed skilled nursing facility in Louisville. Ideally located near multiple hospitals and other referral sources, the facility was originally built in 1962, but was recently renovated in both 2012 and 2014. Occupancy was around 81%, but trailing cash flows were negative, prompting Blueprint to position the asset as a value-add opportunity. For a purchase price of $6.5 million, the facility ultimately sold to Strawberry Fields REIT, which leased it to Landmark Group to operate. The deal... Read More »Schedule a demo
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