While Village Square’s EBITDAR was negative, Blueprint attractively positioned the offering as a value play given its location and upside potential. Blueprint’s campaign generated six qualified offers and a competitive bidding market. The buyer, a Los Angeles-based investor, was able to pinpoint an operating partner eager to turn around the facility’s performance.
In addition to the operational deficit, both Blueprint and the purchaser encountered distinct obstacles during the marketing and due diligence periods. Through consistent communication and collaboration with the seller’s strong asset management team, Blueprint and purchaser were able to effectively navigate the challenges towards resolution and a closed transaction.
The purchase price of the facility was $8,000,000, representing approximately $68,000 per bed.
Christopher Hyldahl and Ben Firestone teamed up to execute the transaction.