New Team Takes Whitehouse
Sale of Whitehouse Country Manor, a 90-licensed bed skilled nursing and long-term care facility located in the Toledo suburb of Whitehouse
Blueprint successfully executed the sales process on behalf of a publicly-traded REIT seeking to strategically divest of the non-core asset
The sale was prompted by the operator's motivation to exit this hyper-competitive submarket and focus on other regions in the state. To maintain census, the operator identified an opportunity to tap into a niche resident group by offering behavioral health services to the market. However, the lower reimbursement rate for this population limited the facility's cash flow potential.
Through a dialed-in marketing approach targeting both investors and regional operators, Blueprint introduced a real estate investor to a rapidly growing in-state operator known for its turnaround expertise. This newly-formed partnership emerged as the ultimate buyer and quickly identified a need to change course by implementing a more hands-on leadership approach at the facility level.