Blueprint facilitates timely operator transition and preserves significant lease value for public REIT

• The portfolio included three facilities well positioned across the Columbus and Cincinnati MSAs and the fourth facility located near the Indiana border in Northwest Ohio.
• While historically operating near stabilized levels, revenue and census declined during the COVID-19 pandemic, putting downward pressure on overall lease coverage.
• The Columbus-based operator expressed a strong desire to exit the business, so the REIT owner engaged Blueprint to source a replacement tenant for the four skilled nursing facilities with 613 total licensed beds (502 dually certified and 111 residential care).
• Blueprint helped negotiate on behalf of the REIT owner, securing a new lease arrangement maintaining and extending the contractual rent levels and then coordinated a creative and incentivized deal structure for the transfer of operations.
• The transaction was completed in less than 90 days through a collaborative effort between the operators to smoothly transition the facilities during a COVID-19 outbreak.