In 2013 Sweet Brook generated approximately $10,565,000 and $377,000 in Gross Revenue and EBITDA, respectively. During this period the facility was 80% occupied based on operating capacity. The purchase price was $10,000,000 or approximately $55,000 per bed.
The facility was owned and operated by a New Jersey-based private investor. The confidential marketing process produced five competitive offers. Ultimately the buyer selected was a New York-based regional owner-operator; Sweet Brook is the buyer’s 12th skilled nursing facility and its first acquisition outside of the state of New York.
Blueprint Capital Solutions also had the opportunity to arrange the mortgage financing for the buyer. The loan amount was $8,250,000 and the lender was Oxford Financial.