One SNF, Two SNF
Sale of two southern Illinois skilled nursing facilities, University Nursing and Rehabilitation Center and Edwardsville Nursing and Rehabilitation, in the Metro East region of greater St. Louis
The sale was prompted by the operator's motivation to reduce its overall exposure to the state's challenging reimbursement environment and its initial intention to not operate the facilities in the long term
Combined, the facilities were operating at approximately breakeven on nearly $12 million in total revenues. Blueprint leveraged the nearby proximity of the assets and positioned the opportunity for an incoming operator to unlock operational synergies and economies of scale by integrating the facilities into an existing regional platform.
Through an extensive marketing process, Blueprint sourced a St. Louis-based opportunistic investor eager to grow its presence in the surrounding area. Blueprint worked closely with both the buyer and exiting operator's team throughout the diligence and transition process to effectuate the transaction.
The combined purchase price was $5,500,000 or approximately $24,000 per bed.