The portfolio was comprised of 1,324 licensed beds and included facilities located in New Hampshire (7) and Florida (5). The seller publicly announced details of its larger 35-property disposition plan in November 2017 as part of an ongoing strategy to diversify its operator base. Blueprint was tapped as the exclusive advisor on the engagement for its track record in maximizing value for complex portfolio transactions and ability to deliver swift and effective execution in multiple markets nationwide.
Through a precision-based marketing process, Blueprint sourced a well-capitalized, yield-driven private equity investor who entered into a new NNN-lease with the current operator at market terms. The transaction led to a successful outcome for all parties involved, as well as a smooth ownership transition without disruption to operations.
The portfolio purchase price is equal to approximately $101,200 per bed. The purchase price and lease terms represent a 9.0% initial yield on rent and a 1.35x lease coverage ratio, based on trailing EBITDAR.
The transaction was handled by Christopher Hyldahl, Ben Firestone, Gideon Orion, and Michael Segal.