The portfolio, a regional cluster of five properties located within three hours of one another, were owned by a publicly-traded REIT and were operated by a reputable national operator with a larger presence in the state. Throughout the transaction the portfolio’s census remained relatively stable, however some communities were operating at a deficit. Blueprint conducted an exclusive sales process by confidentially approaching a limited group of qualified purchasers seeking to create or expand upon their regional footprint in the state of Florida. Positioned as a value-add opportunity, Blueprint effectively demonstrated the potential upside in occupancy and operational efficiencies which created significant interest in the offering.
Blueprint procured several competitive offers and ultimately structured a sale transaction with a high net-worth healthcare real estate investor that partnered with a growing regional operator to improve the portfolio’s overall performance.
The purchase price was $16,000,000, or approximately $71,000 per unit.
Trent Gherardini and Ben Firestone worked together in structuring this transaction.