A highly selective and confidential marketing campaign positioned the asset as a value-add play in which an operator more familiar with the region and local market could unlock substantial value. After a targeted buyer selection process, a New York based owner/operator with a notable presence in East Texas emerged as the winning bidder. Despite the incumbent operator seeking a nonconforming and calculated exit of their own, Blueprint was able to maximize value for its client by working quickly and collaboratively with all parties through the intricacies of the transition. This facilitation of the process resulted in a successful close in less than 60-days from agreement of the LOI.
The purchase price of $6,420,000 was equal to $53,500 per licensed bed.
Christopher Hyldahl and Gideon Orion were the lead advisors on the transaction.