Sale of 116-bed SNF in Klamath Falls, OR
Blueprint is pleased to announce the successful closing of Marquis Care Center at Plum Ridge, a 116-bed SNF located in Klamath Falls, OR. Blueprint was hired to sell only the sublease, which was between the landlord and the hospital, with Marquis being the tenant/operator.
Marquis was experiencing $11 million in gross revenues and EBITDAR of $950,000, yielding an operating margin and quality mix of 8.6% and 44.1, respectively.
Lease payment to the landlord was $540,000.
Chris approached eight prospective tenants and generated five offers on the offering.
Because Marquis only had until September 30, 2016, without any extensions, a new owner/operator would be able to negotiate a new lease with Marquis or another tenant.
Marquis did not want to lose the deal and the offers on the table were higher than they expected.
Rather than them jeopardizing their position as operator, Chris was able to recast their lease at $750,000 with the current "landlord" staying in place.