Arizona Lease Up
Partnership placement for two skilled nursing facilities, consisting of 232 licensed beds, located in Arizona
Blueprint was exclusively engaged by the owner, a publicly traded healthcare REIT, to identify, market, and secure new long-term leasehold interests for the facilities
Blueprint's expertise in marketing value-add facilities while identifying local operators proved critical for the success of the transaction. Despite the facilities being located on opposite ends of the state, one in a tertiary market and the other with Special Focus designation and in need of capital improvements and regulatory cleanup, Blueprint successfully positioned the assets by highlighting strong Medicare census and keying in on issues which could be improved by a local operator, including relationship building with local referral sources.
A targeted and efficient process ultimately identified a single tenant committed to addressing required capital improvements and performance issues at both facilities. The selected operator has a large footprint around the respective submarkets and was willing to take on the assets based on its regional operating expertise. Blueprint worked closely with all parties throughout the transaction to ensure a successful closing and disruption free operational transition.