While Kindred Windsor’s trailing twelve-month total revenues were approximately $9.8 Million, EBITDAR over the same period was below break-even. As such, Blueprint attractively positioned the offering as a value play and was able to pinpoint a highly-experienced regional operator eager to acquire and turnaround the facility.
In addition to the operational deficit, both Blueprint and the purchaser encountered distinct transactional obstacles during the marketing and due diligence periods. Through consistent communication and collaboration with both the purchaser and the lender, Amy Heller of Congressional Bank, Blueprint effectively navigated the challenges on the way to a closed transaction.
The ultimate purchase price of the facility was $2,550,000, or $23,611 per bed.
Ben Firestone, Steve Thomes and Tim Cobb teamed up to execute the transaction.