Hillcrest Skilled Nursing and Rehab
Lease of 154-bed skilled nursing facility in Long Beach, California
Blueprint is pleased to announce the successful lease of a 154-bed skilled nursing facility in Long Beach, California. The subject property was constructed in 1959 and consists of 30,221 square feet. This facility resides on a 1.38-acre parcel west of the 405 freeway and east of the 710 freeway.
Owned and operated by a local family for over forty years, the facility was recently awarded a five-star rating by Centers for Medicare & Medical Services (‘CMS’).
The subject property generated $8,468,278 and $1,004,320 in gross revenue and EBITDAR, respectively which presented an 11.6% operating margin after a 5% management fee.
Overall census over the past three years was consistent at 90% with a quality payor mix ranging from 17.5 to 19.2%.