Blueprint’s Two Lone Star State Sales
Blueprint Healthcare Real Estate Advisors continues to impress in 2018, having just closed two more transactions to bring its yearly total to 21 deals announced, so far. Gideon Orion and Chris Hyldahl of Blueprint Healthcare Real Estate Advisors served up a South Texas sale in the town of Robstown, just outside of Corpus Christi. The buyer will have their hands full with this facility. Built in 1969, with a small renovation in 2010, its age did not help operations. As such, occupancy stood at 75%, and the facility operated at a 5.9% EBITDAR margin at the time of the sale. In came Messrs. Orion and Hyldahl, who represented the New York-based owner (with more than 150 skilled nursing... Read More »
Leaving the Land of Lincoln
Illinois is often cited as a state in which skilled nursing owners and operators do not want to do business in. Its uncertain reimbursement market and fiscal situation make for a risky investment, particularly outside of the more densely populated, higher income Chicagoland. That was the impetus for an owner/operator to sell its two Illinois skilled nursing facilities in the greater St. Louis area, with the help of Josh Salzman, Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors. The exit wasn’t surprising for the previous owner, which had not intended to operate the facilities for the long term. The two facilities are both located in Edwardsville and combined for... Read More »
Blueprint Healthcare Real Estate Advisors Unlocks the Keystone State
Representing a REIT owner in a strategic non-core divestment, Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors sold a Philly-area skilled nursing facility for an undisclosed price. The transaction was remarkably similar to another deal that Messrs. Segal and Firestone closed earlier this month. That deal featured a 180-bed SNF in the Lehigh Valley region of eastern Pennsylvania that sold for $18.75 million, or about $104,000 per bed. Just a week later, the Blueprint team sold a 181-bed skilled nursing facility also in eastern Pennsylvania (the Philadelphia suburb of Wyndmoor). The in-place management team had assumed operations in 2015, but inconsistent... Read More »
Sitzman Sells Vacant Senior Living Assets
No residents? No problem for Amy Sitzman of Blueprint Healthcare Real Estate Advisors, who recently sold two vacant assisted living communities in Arizona for an undisclosed price. These were not recent vacancies, however, that the incoming owner can just open the doors and get along with business as usual. One asset, located in Peoria with 50 units, closed in 2008, while the second building in Mesa, also with 50 units, had been vacant since 2013. The seller looked to divest the assets, and ended up selling to two separate buyers. The purchaser of the Peoria property is a regional operator looking to expand its presence. Meanwhile, the Mesa buyer is a growing behavioral health group that... Read More »Schedule a demo
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