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Blueprint Scores Along the Chesapeake Shores

Competitive bidding environment leads to successful sale of two Maryland skilled nursing facilities amid choppy waters
Blueprint was selected by a public REIT and its operating partner to execute the strategic sale of two skilled nursing facilities along the shores of the Chesapeake Bay with a total of 285 licensed beds. The sale is part of a larger portfolio with staggered closings
The sale included facilities in Cambridge and Lexington Park, a pair of three and four-star CMS-rated facilities with limited local competition and attractive Medicaid reimbursement rates. Even with COVID-related operational challenges, the facilities maintained positive, albeit lower, cash flow compared to pre-pandemic levels

Blueprint’s marketing approach generated several competitive offers from investors and operators eager to expand or enter the Mid-Atlantic region, with the emergence of an East Coast-based acquirer and operator partnership selected to acquire the facilities

Blueprint proactively worked through all aspects of the transaction to successfully close the sale upon the new operators’ receipt of regulatory approvals from the state

Michael Segal

Ben Firestone