Rock & Roll
Sale of a five-property skilled nursing portfolio in northeast Ohio
Blueprint executed the transaction on behalf of a publicly-traded REIT and a national operator
Seeking to divest of its non-core assets, the seller engaged Blueprint for its transactional expertise in the region. Blueprint subsequently directed a seamless marketing campaign soliciting competitive offers from both investors and regional operators.
Blueprint's experience balancing transaction proceeds and execution certainty in a competitive final round of bidding led to an outcome that was music to its clients' ears. Blueprint separated the prevailing bidder, a growing regional provider, in part for its commitment to work expeditiously through the contract negotiations in only a matter of days. The buyer and its East Coast-based equity partner leaned heavily on Blueprint to navigate the transaction process for a smooth and timely closing.
The purchase price was $45 million or approximately $62,000 per bed.