The portfolio included 10 locations in Nebraska, four in Iowa, and one in Kansas, and consists of over 950 licensed beds. The facilities are in predominantly secondary and tertiary submarkets and the majority were built in the 1960s and 1970s. With minimal local competition in most respective markets, the facilities maintained above a 3-star average CMS rating during the marketing process; however, operational cash flow was limited.
Blueprint orchestrated a unique marketing plan generating interest in select facilities, state subgroupings, as well as the entire portfolio offering. The strategic decision to sell the entire portfolio to a carefully selected buyer mitigated overall execution risk and ensured all facilities were transitioned simultaneously and sold in a single transaction. The buyer has a presence in both Kansas and Nebraska, allowing for expedited state approval and operational integration into their existing regional platform.
Working closely with all parties throughout the sale process to proactively address and resolve matters as encountered, Blueprint navigated the transaction to the finish line.
The transaction was handled by Michael Segal, Ben Firestone, and Steve Thomes.