DONE DEAL:
Seeing the Valley for the Views
Blueprint assists in establishing new partnership between national seniors housing owner-operator and west coast-based skilled nursing operator at Valley View Nursing and Rehabilitation in Boise, Idaho
  • The well maintained 4-Star CMS rated, 120-bed skilled nursing building is a component of a campus also offering 51 units of independent living and 143 units of assisted living.
  • The landlord, who also manages the independent and assisted components of the campus, sought a new skilled nursing tenant to work collaboratively to create a thriving continuum of care.
  • Blueprint procured multiple offers from prospective new tenants with the ultimate partner being selected for their creative plan to turn around operations and show flexibility related to lease structure.
  • Located in a highly competitive market near the regional hospital, Valley View consistently performed in the 70% occupancy range with a strong quality mix prior to the management transition.
  • The new tenant stepped into a management role in January 2019 to implement a turnaround plan at the once thriving rehab-focused facility. The management agreement eventually converted to a lease upon approval of the change of manager application by HUD.
  • At the close of 2020, the management company generated $12.3 million in revenue for a 22.1% EBITDAR margin, outperforming the previous manager by 20% and 10%, respectively.
LEAD ADVISORS
Steve Thomes
Senior Managing Director & Head of Business Development
202.400.2279
sthomes@blueprintHCRE.com
Dan Mahoney
Managing Director
503.765.9348
dmahoney@blueprintHCRE.com