At the time of sale, the portfolio represented approximately $3.8 Million in top line revenue and approximately $540k in operating income. While the Hammond community was fully stabilized (with expansion potential) and generating an operating margin of approximately 24%, the memory care wing at the Slidell community remained in the fill-up stage and was positioned as a value-add play. Blueprint was able to effectively create a competitive bidding environment to maximize value. The offering was positioned by Blueprint as having the winning combination of in-place cash flow and substantial operational upside for an investor hit target investment returns.
The Seller was a private equity firm based on the east coast, and the buyer ultimately selected was a joint venture comprised of a Real Estate Investment Trust (REIT) that exclusively invests in healthcare and a regional operator based in Florida.
Ben Firestone and Michael Segal were the lead advisors on the transaction.