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.