Better Homes and Gardner
Blueprint is pleased to announce the successful sale of Gardner Rehabilitation and Nursing Center, a 124-bed skilled nursing facility located in Gardner, Massachusetts.

Blueprint’s client took over the operations of the struggling nursing home in 2013. A sound repositioning strategy and limited area competition set the stage for a significant turnaround. The operator’s business plan was executed, and Blueprint was engaged exclusively by the seller to conduct a targeted marketing campaign.

At the time of sale, Gardner was 94% occupied with a 26% quality payor mix and generated revenues of approximately $11 million. Blueprint attractively positioned the offering as a near-stabilized facility with remaining upside in a rate boost driven by a planned renovation project. Through consistent market communication Blueprint was able to procure multiple qualified offers for the asset. Ultimately, Blueprint and its client selected a highly-experienced and well-regarded regional operator eager to acquire the facility. Blueprint collaborated with its client extensively throughout the process to ensure a successful closing.

The purchase price was $12,750,000, or $102,823 per bed.

Steve Thomes was the lead advisor on the transaction.

Steve Thomes
Senior Managing Director & Head of Business Development