A highly selective and confidential marketing campaign positioned the asset as a value-add play in which an operator with synergies in the region and local market could unlock substantial value. At the outset of marketing, trailing twelve month operational performance yielded $5,950,000 in Total Revenue with overall occupancy at 56%. The outgoing operator took over the building at a time of operational challenges, but was able to change course towards regulatory compliance and improved operational performance. Blueprint ran a competitive bidding process which resulted in multiple offers from qualified regional and national players. A reputable New York based healthcare real estate investor emerged as the high bidder, and will be leasing the facility to a prominent regional operator with an existing footprint in Colorado.
The purchase price of $5,400,000 was equal to $45,000 per licensed bed.
Christopher Hyldahl and Gideon Orion were the lead advisors on the transaction.