The portfolio was comprised of 981 licensed beds and represents the first part of a staggered closing which will include an additional four assets following HUD debt assumption. Spanning the U.S., the portfolio included assets in California, Colorado, Idaho, North Carolina, New Mexico, Rhode Island, Washington, and West Virginia.
Through a confidential marketing process, Blueprint secured a well-capitalized, yield-driven private equity investor who entered into a new NNN lease with the current operator at market terms. The transaction led to a successful outcome for all parties involved, as well as a smooth ownership transition without disruption to operations.
The portfolio purchase price was equal to approximately $83,000 per bed and represented a 9.0% initial yield based on trailing EBITDAR.
The transaction was handled by Christopher Hyldahl, Ben Firestone, Gideon Orion, and Michael Segal.