DONE DEAL:
Kentucky Thorough-Beds
Blueprint is pleased to announce the successful sale of Barkley Center and Countryside Center, two skilled nursing facilities located in Kentucky.

The offering presented a unique opportunity to acquire a pair of nursing facilities with strong reputations and local synergies. Blueprint’s transactional expertise in Kentucky helped the California-based seller identify investors and operators seeking to grow their presence in the western part of the commonwealth.

The well-maintained facilities were built in 1993 and 1999, respectively. Capital improvements in recent years included an extensive $1.7 million renovation at Barkley Center, which was completed in September 2014 and consisted of the addition of a 1,300 square foot state-of-the-art rehab and therapy gym. At the time marketing began, combined occupancy was 80% with total revenue of approximately $10 million.

Blueprint placed its bet on ClearView Healthcare Management as the buyer. For ClearView, the facilities’ deep ties within their close-knit communities reflected their own operating mission and values,┬ásomething they sought to continue.

The purchase price was $7.5 million or approximately $51,000 per bed.

The transaction was handled by Christopher Hyldahl, Gideon Orion, Michael Segal, and Ben Firestone.

LEAD ADVISORS
Christopher Hyldahl
Senior Managing Director, Founding Partner
(310) 893-7181
chyldahl@blueprintHCRE.com
Gideon Orion
Managing Director
(310) 893-7183
gorion@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