DONE DEAL:
Stampede Closing
Blueprint is pleased to announce the successful sale of Tonawanda Manor, an 84-unit assisted living community located in Suburban Buffalo, New York. Blueprint conducted an exclusive sales process on behalf of a prominent local owner-operator.

Blueprint orchestrated a calculated marketing campaign steered primarily towards regional operators. Blueprint’s knowledge surrounding New York State regulation effectively shaped the market for prospective acquirers poised for optimal transaction execution. And, perhaps the most impactful aspect of Blueprint’s involvement in the transaction was its role in structuring an expedited licensure transfer process enabling an unprecedented transaction time frame in New York State.

Tonawanda Manor was operationally stabilized at the time of sale with an operating margin exceeding 30% of total revenue. Resident mix included a balance of both private pay and beneficiaries of New York State’s Assisted Living Program (“ALP”). While known seniors housing investors were attracted to the investment yield, Blueprint selected a purchaser in a regional provider primarily focused on skilled nursing care. This purchaser made a compelling case given its existing licensure qualifications and its purchase price driven by the desire to expand its footprint across the acuity spectrum in Western New York.

The purchase price was $11,000,000, or approximately $130,000 per unit.

Ben Firestone and Connor Doherty facilitated the transaction.

LEAD ADVISORS
Ben Firestone
Senior Managing Director, Founding Partner
(312) 300-4000
bfirestone@blueprintHCRE.com
Connor Doherty
Senior Associate
(312) 300-4834
cdoherty@blueprintHCRE.com