The 654-bed portfolio consisted of properties in densely-populated, highly-impenetrable submarkets with established competitors. The facilities were well maintained and had undergone several extensive renovations including new memory care units, accommodations for vent patients, and accessible outpatient therapy space.
Blueprint’s marketing strategy focused on the portfolio’s strong historical performance and economic upside potential. Blueprint worked to assist in negotiating an exclusive deal with the buyer, a reputable owner-operator that recognized the unique opportunity to expand its New Jersey footprint. Blueprint helped facilitate the due diligence process and operational transition, closing the transaction in less than 100 days following offer acceptance.
The sale represents one of the largest skilled nursing portfolio transactions in the state of New Jersey.
The transaction was handled by Ben Firestone, Christopher Hyldahl, Michael Segal, and Gideon Orion.