Booming Blueprint
Following Blueprint Healthcare Real Estate Advisors’ announced acquisition of Pyms Capital Resources, the brokerage firm highlighted its growing strength with two more deal closings in the middle of the country. First up, Christopher Hyldahl and Giancarlo Riso arranged the sale of a six-facility skilled nursing portfolio in Iowa on behalf of the local owner/operator seller. The portfolio, which includes 273 total dually-certified beds, offers a huge opportunity for improvement to the buyer, a New York-based owner/operator interested in expanding in Iowa. Built over the last 20 years by the seller, the portfolio was just 52% occupied at the time of the sale, but had a quality mix of... Read More »
Pyms Capital Resources Joins Blueprint Healthcare Real Estate Advisors
On the eve of NIC’s Spring Investment Forum in San Diego, Blueprint Healthcare Real Estate Advisors announced the joining of its firm with Pamela Pyms and Hayden Behnke of Pyms Capital Resources. Working together since 2011 out of Denver, Colorado, Ms. Pyms and Ms. Behnke not only bring their talent for deal making to Blueprint, but local market expertise of Colorado and the surrounding region. Pyms Capital Resources also helps developers source equity and debt, in addition to arranging partnerships among institutional investors and national operators. In Blueprint, Ms. Pyms and Ms. Behnke are joining a fast-growing brokerage firm with 45 transactions and $554 million in business closed in... Read More »
Buying in Burbank
It may have seen better days, but a skilled nursing facility in Burbank, Illinois sold to a pair of Chicago-based companies for $7.25 million, or $44,500 per bed. The 163-bed facility was sold by a New York-based owner of more than 180 skilled nursing facilities located across the country. In-place cash flow was negative at the time of the sale and occupancy had declined over the past few years. But that hasn’t always been the case, with local operators noting the well-maintained facility’s strong operations in the past, including back-to-back years of total revenue and EBTIDAR exceeding $10 million and $1 million, respectively. A partnership between a national real estate investor and an... Read More »
Another Texas Transaction for Blueprint Healthcare Real Estate Advisors
Blueprint Healthcare Real Estate Advisors has developed an affinity for the Texas senior care M&A market, closing six transactions in the state in the last year, including as recently as January, when the firm closed the sale of a 120-bed skilled nursing facility in Whitehouse for $6.42 million, or $53,500 per bed. Now, hired to help a large company divest what it viewed as non-core asset, Tim Cobb and Ben Firestone of Blueprint arranged the sale of a 75-unit/141-bed skilled nursing facility in San Antonio. Included on the campus was a 17-bed assisted living unit, but the facility was struggling operationally, with just a 34% census at the time of the sale. The Ensign Group was the... Read More »Schedule a demo
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