DONE DEAL:
Hit Pinellas out of the Park
Blueprint is pleased to announce the successful sale of Signature HealthCARE of Pinellas Park, a 120-bed skilled nursing facility located outside of Tampa, Florida, on behalf of its client, a publicly-traded REIT.

Built in 1983 and renovated in 2009, the facility was well maintained and located in a highly desirable market just a few blocks from a major hospital. At the time of sale, however, the property was experiencing operational challenges related to census and escalating liability insurance costs.

The seller elected to engage Blueprint for its regional expertise, as well as its relationships with investors seeking skilled nursing facilities from coast to coast.¬†Blueprint’s marketing strategy focused on the significant upside potential in operating expense control. The competitive bidding process yielded 13 qualified offers from local and regional operators as well as investors nationwide.¬†Ultimately, Blueprint and the seller selected a partnership between a high-net-worth investor and an experienced Florida operator as the buyer, whose offer represented the optimal combination of transaction price and execution certainty.

The purchase price was $12,000,000 or $100,000 per licensed bed.

The transaction was led by Trent Gherardini, Michael Segal, and Ben Firestone.

LEAD ADVISORS
Trent Gherardini
Senior Associate
(312) 300-4153
trent@blueprintHCRE.com
Michael Segal
Managing Director
(312) 300-4137
msegal@blueprintHCRE.com
Ben Firestone
Senior Managing Director, Founding Partner
(312) 300-4000
bfirestone@blueprintHCRE.com