Penn to Paper
Sale of a three-property skilled nursing portfolio in the Wyoming Valley region of Northeast Pennsylvania
Blueprint executed the transaction on behalf of a private investor and regional operator
Located along a 25-mile stretch in the Scranton/Wilkes-Barre market, the portfolio consisted of 416 licensed beds and ownership had recently completed substantial renovations. With favorable local senior demographics, solid reimbursement rates, and positively trending operational performance following the capital improvement projects, the facilities were well positioned among the area's competition to draw quality admissions from key referral sources including six regional hospitals. On a consolidated basis, the facilities were 85% occupied and generating over $34 million in total revenue with continuously improving operating margins.
Blueprint's marketing process established a competitive bidding environment among several interested buyers looking to expand or enter the state. Following a thorough vetting process, Blueprint selected a REIT buyer along with an operating partner that has a considerable presence in Pennsylvania. Throughout the sale process, Blueprint creatively addressed and resolved all transactional-related issues head-on, papering a successful deal that maximized value for its client.