DONE DEAL:
University Graduation
Blueprint is pleased to announce the successful sale of University Center East and University Center West, two skilled nursing facilities located in DeLand, Florida.

Deemed non-core assets by both the operator and seller, a publicly-traded REIT, Blueprint was engaged for its regional market knowledge and experience in value-add exit strategy. Located less than three miles from one another, the two facilities presented a unique opportunity for an incoming investor to maximize operational synergies and capitalize on significant upside potential. One facility was experiencing operational challenges due to a survey issue and was deemed a Special Focus Facility by CMS. And, while occupancy was stabilized around 90% for both facilities, EBITDAR was low.

Blueprint’s marketing campaign targeted operators and opportunistic investors looking to expand in Florida. By positioning the assets as having substantial operational upside, Blueprint created a competitive bidding environment that brought multiple offers. The asset marked as a Special Focus Facility graduated from the list during the process. This is the first Southeast acquisition for the selected buyer, an owner-operator specializing in turnaround opportunities.

The transaction was handled by Ben Firestone, Michael Segal, and Trent Gherardini.

LEAD ADVISORS
Ben Firestone
Senior Managing Director, Founding Partner
(312) 300-4000
bfirestone@blueprintHCRE.com
Michael Segal
Managing Director
(312) 300-4137
msegal@blueprintHCRE.com
Trent Gherardini
Senior Associate
(312) 300-4153
trent@blueprintHCRE.com