The highly selective and confidential marketing campaign positioned the asset as a value-add opportunity. At the time of sale, in-place cash flow was negative, with occupancy in multiple year-over-year decline. However, historical operational performance proved bankable, as experienced local operators and savvy investors noted the well-maintained facility’s strong past performance. This included back-to-back years of total revenue and EBITDAR in excess of $10,000,000 and $1,000,000, respectively. Following a competitive bidding process, strong synergies brought together two well-qualified Chicago based groups. A respected national real estate investor and an emerging regional operator joined forces in a new partnership to close the deal. Blueprint worked collaboratively with all parties through the complexities of the transaction, ultimately closing the sale on behalf of its client in exactly 60 days from LOI execution.

The purchase price of $7,250,000 was equal to approximately $44,500 per licensed bed ($57,000 per operational bed).

Christopher Hyldahl, Gideon Orion, and Michael Segal were the lead advisors on the transaction.