The portfolio was comprised of 1,866 total licensed beds and includes facilities located in Kentucky (12), Ohio (7), and Indiana (1). The seller elected to divest of the assets as part of a greater ongoing strategy to diversify its operator base. Blueprint was engaged as the exclusive advisor for its expertise in maximizing value for skilled nursing portfolios and its commitment to swift and effective transaction execution.
Through its tailored marketing campaign, Blueprint sourced a well-capitalized, yield-driven private equity investor that entered into a new NNN-lease with the current operator at market terms. The transaction led to a successful outcome for all parties involved, as well as a smooth ownership transition without disrupting operations.
The purchase price was $103,300,000 or approximately $55,000 per bed. The purchase price and lease terms represented an initial cash yield of 9.0% and a lease coverage ratio of 1.40x based on trailing EBITDAR.
Christopher Hyldahl and Ben Firestone led the transaction.