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Blueprint successfully represented LTC Properties Inc. in the divesture of its Preferred Care Portfolio, which included approximately 2,500 beds across five states. Blueprint assisted LTC with the sales by identifying buyers for a series of transactions, leveraging the firm's broad market coverage and regional expertise to generate combined net proceeds to LTC of approximately $78 million.
The portfolio consisted of facilities located in both suburban and rural locations. Blueprint highlighted each facility's upside for an incoming investor and operator, including elevating the clinical profile of the facilities and implementing expense controls.
With substantial revenue from the inpatient rehab center, Blueprint utilized its extensive network in the region to target potential buyers comfortable with operating the highly specialized product.
Through Blueprint's process, LTC selected a buyer that demonstrated the highest level of execution certainty. The transaction closed in March of 2020 and represents the fifth and final transaction that made up LTC's Preferred Care Portfolio.
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