The portfolio consisted of 252 total licensed beds including ten personal care beds. The facilities were well maintained and two of the locations underwent substantial renovations in recent years. Motivated by regulatory risks and the claims environment facing healthcare providers in the state, the seller selected Blueprint to run the sale process because of the firm’s successful track record executing Kentucky skilled nursing transactions.
In light of challenges associated with properties located in rural markets, Blueprint leveraged the favorable local reputation of each facility for providing quality care along with stable operational performance. The facilities collectively generated meaningful cash flows in areas with relatively minimal competition.
The marketing process yielded multiple competitive offers from investors and owner-operators with a presence in the state. The ultimate buyer was selected for its regional market familiarity and closing capabilities, recently completing another skilled nursing acquisition through Blueprint near the properties. Utilizing its close industry relationships with insurance providers to deliver creative liability solutions, Blueprint navigated the transaction to the finish line with a prescriptively executed operational transition.
The sale price was $18.7 million, and the transaction was led by Ben Firestone and Michael Segal.