Hillcrest Skilled Nursing and Rehab
Blueprint is pleased to announce the successful lease of a 154-bed skilled nursing facility in Long Beach, California. The subject property was constructed in 1959 and consists of 30,221 square feet. This facility resides on a 1.38-acre parcel west of the 405 freeway and east of the 710 freeway.

Owned and operated by a local family for over forty years, the facility was recently awarded a five-star rating by Centers for Medicare & Medical Services (“CMS”). The subject property generated $8,468,278 and $1,004,320 in gross revenue and EBITDAR, respectively which presented an 11.6% operating margin after a 5% management fee. Overall census over the past three years was consistent at 90% with a quality payor mix ranging from 17.5 to 19.2%.

Christopher Hyldahl, a Managing Director of Blueprint, confidentially approached ten strategic operators, which resulted in six offers to lease the facility. The marketing process took approximately sixty days from commencement to contract. The incoming lessee is based in Orange County and currently owns and or operates four skilled nursing facilities and four assisted living facilities in Southern California.

Christopher Hyldahl
Executive Managing Director & Co-Founder