Keep On Rocking in the SNF World
Sale of 2,000+ Bed Skilled Nursing Portfolio in Ohio
Blueprint’s unmatched market expertise and collaborative team approach proves critical in closing large skilled nursing portfolio sale
The portfolio, which included 17 facilities geographically clustered throughout Ohio, was purchased in late 2018 by a joint venture between an experienced investor and a growing Ohio-based operator.
While historically operating near stabilized levels with consistent $100+ million in yearly revenue, performance drastically declined during the COVID-19 pandemic.
The seller elected to engage Blueprint to conduct a comprehensive, strategic, and confidential sales process targeting investors capable of executing complex turnaround strategies.
Blueprint’s competitive process yielded seven competitive offers and the ultimate buyer selected was an East Coast-based owner-operator seeking to leverage the recently announced Ohio Provider Incentive Program.
Blueprint, in collaboration with a highly talented team of deal participants, played an integral role throughout the process to keep all parties motivated and focused to efficiently complete the transaction.
The purchase price was $145,000,000 or roughly $73,000 per bed.