And the vote is in…
On October 13, our editor Steve Monroe moderated a webinar called “Skilled Nursing: Buying, Selling & Valuing,” with panelists Ben Atkins, Chairman of Traditions Senior Management, Charles Bissell, Executive Director of Integra Realty Resources, Ben Firestone, Senior Managing Director & Founding Partner of Blueprint Healthcare Real Estate Advisors, and Stephen Graham, SVP/Director of Post-Acute Acquisition & Development of MedEquities Realty Trust. During the 90 minutes, we posed two poll questions to our listeners and got some interesting results. First, in response to “Should high acuity, subacute SNFs sell with a higher or lower cap rate than more traditional SNFs?,” 55% of... Read More »Expanding Through Decreased Acuity
An acute-care operator based in New York is not only expanding its geographic reach, but also its acuity offerings. The company already owns several post-acute/senior care assets in New York, but is launching into the Midwest with the acquisition of a 200+-unit/bed senior care campus in the Toledo, Ohio area for an undisclosed price. Built in many stages from 1963 to 2006, the property mainly consists of skilled nursing beds, with a significant number of long-term acute care (LTAC) beds, as well as assisted living and independent living units. For over 30 years, a second-generation family member owned and operated the facilities, but they are leaving to focus on their existing assisted... Read More »The Blueprint Buzz
We hope the team at Blueprint Healthcare Real Estate Advisors has found some time this NIC to celebrate their busy end to the summer, having announced four deals during the Fall conference. First up, with the help of Steve Thomes, Christopher Hyldahl, and Gideon Orion of Blueprint, as well as acquisition financing provided by Private Bank, Brick, New Jersey-based Tryko Partners LLC added to its already-strong eastern Massachusetts skilled nursing facility portfolio with the acquisition of a 107-bed facility in Methuen for $7.5 million, or $70,093 per bed. It was built in 1960 and renovated in 1995, but Tryko is planning, through its affiliate, Marquis Health Services, a $2.5 million... Read More »
Two Texas-sized SNFs sell
Blueprint Healthcare Real Estate Advisors’ most recent deal in Texas involved two large skilled nursing facilities, and some 438 beds, for a purchase price of $27.5 million, or $62,785 per bed. The facilities were owned by a well-known family in the Texas skilled nursing world that has been operating since the mid-1970s. The leads on this transaction, Tim Cobb, Steve Thomes and Joshua Salzman, Esq., faced some problems with the uncertainty of the Texas Minimum Payment Amount Program, but eventually sold the facilities to a Los Angeles-based real estate private equity firm with an operating partner. Read More »Schedule a demo
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