Sale of three skilled nursing facilities with approximately 250 beds and 25 assisted living units in Colorado
Blueprint successfully represented LTC Properties Inc. in the divesture of its Preferred Care Portfolio, which included approximately 2,500 beds across five states. Blueprint assisted LTC with the sales by identifying buyers for a series of transactions, leveraging the firm’s broad market coverage and regional expertise to generate combined net proceeds to LTC of approximately $78 million.
- The portfolio consisted of two facilities in the Denver MSA and one located in eastern Colorado
- Blueprint marketed the offering as an opportunity to acquire or grow a presence in the highly sought-after state of Colorado and highlighted opportunities to increase operational efficiencies
- Blueprint’s process resulted in multiple offers with buyers particularly attracted to the communities in the Denver MSA and willing to include the geographic outlier to the east
- A private company was selected as the buyer based on the group’s existing footprint in Colorado and relationships with its chosen third-party operators
- The transaction closed in March of 2020 and represents the fourth of five transactions that made up LTC’s Preferred Care Portfolio