At the time of sale, the downtown adjacent New Bedford facility was 79% occupied with revenues totaling more than $6.7 million. A competitive sales process resulted in several qualified offers from both skilled nursing operators in the region and investors nationwide.
Blueprint stayed in close communication with its client while working diligently to effectively position the asset, structure the agreement, and close the transaction. The facility was acquired by a regional owner/operator with a notable presence in the eastern part of the state. The purchase price was $4,000,000 and was equal to approximately $32,500 per licensed bed.
Steve Thomes and Christopher Hyldahl were the lead advisors on the transaction.