Blueprint conducted an exclusive and limited process on behalf of a California-based private equity group and local operator seeking to exit the asset. Blueprint positioned the offering as a cash flowing facility with upside to be unlocked through enhanced operations.
Blueprint maximized the trade for the seller through its depth of relationships with qualified purchasers within the region. The process resulted in several competitive offers and, ultimately, Blueprint drew the greatest motivation from a New Jersey-based owner-operator deploying a strategy to grow its existing footprint in the state.
The purchase price was $6.7 million or approximately $67,000 per bed.
The transaction was facilitated by Connor Doherty and Ryan Kelly.