The portfolio consisted of 162 skilled nursing beds, 19 independent units, and 12 age-restricted apartment units. The facilities were originally built in the late 1960s but had maintained a great reputation along with strong revenue numbers. Despite having strong occupancy, quality mix, and per-resident-day revenues, expense management remained an issue.
Blueprint was selected by the seller to run the sale process for its extensive experience in the Wisconsin market. The marketing campaign effectively managed the challenge of the facilities’ various rural locations. Blueprint positioned the value-add offering as an opportunity for the incoming buyer to grow a regional platform through quick expense management and operational efficiencies by adding to exsiting regional assets, resulting in overall portfolio profitability. Blueprint and the seller ultimately identified a buyer in a growing owner-operator.
The transaction was facilitated by Amy Sitzman and Michael Segal.