The portfolio was positioned as a unique opportunity to strategically develop a new regional operating platform or expand an existing one. The offering presented the ability to capitalize on clear and identifiable operational upside at each facility. At the time of sale, the portfolio generated $38,400,000 in total revenues with an overall occupancy rate of 66% and a 15% quality payor mix.
Through a targeted and confidential marketing process, Blueprint procured multiple competitive bids. Ultimately, the winning bidder was a real estate investor that saw the offering as an opportunity to enter the Southeast market. The investor partnered with Blue Ridge Healthcare, a regional operator that has grown its presence in the Southeast over the last five years. Through collaboration between all parties, Blueprint leveraged its deep knowledge of the local market and nuances of the state’s licensure process in order to help bring the deal to a successful close.
The transaction was handled by Brooks Blackmon, Christopher Hyldahl, and Gideon Orion.