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Grand Rapid Results

Blueprint facilitates not-for-profit Michigan exit with sale of assisted living and skilled nursing facility
First acquired by United Church Homes, Inc. in 2016 from another not-for-profit owner, Pilgrim Manor in Grand Rapids consists of 59 assisted living and memory care units and 55 licensed skilled nursing and long-term care beds. Following takeover, ownership completed extensive capital improvements, interior renovations, and a comprehensive building expansion
Pilgrim Manor maintained several church affiliations in the local community and is a preferred provider of Spectrum Health System, the largest health system in Michigan and market leader in the Grand Rapids area. However, as ownership’s only Michigan location, performance challenges persisted throughout the pandemic and the strategic decision was made to exit and focus on other core markets and growth opportunities

Blueprint was chosen over several brokerage and advisory firms to conduct a targeted marketing campaign and sale process. Positioning the value-add offering with distinct paths to meaningful upside, five competitive offers were secured from both for-profit and not-for-profit acquirers. The ultimate buyer was selected for its compelling proposal and reputable operating platform throughout the state

Working alongside the seller and buyer to complete the sale on an expedited timeline, Blueprint’s transactional experience, market knowledge, and familiarity with all parties helped navigate through the operational transition process to ensure an efficient closing

Michael Segal

Alex Florea

Connor Doherty

Ryan Kelly