Shake 'n Bake
Sale of 172-unit/bed assisted living and skilled nursing facility in Cleveland, Ohio
Blueprint is pleased to announce the successful sale of Shaker Gardens, a 172-unit/bed assisted living and skilled nursing facility located in the upscale Cleveland, Ohio suburb of Shaker Heights. The seller, a private equity investment firm, engaged Blueprint to lead the sales process following a successful renovation and subsequent lease-up of the facility.
Shaker Gardens features 122 assisted living beds and 50 licensed skilled nursing beds and is situated near a new, transformative commercial development in downtown Shaker Heights.
The facility was originally acquired as a value-add opportunity and, following substantial capital improvements, occupancy steadily climbed to 85% with over 70% of the assisted living resident population enrolled in Ohio’s Assisted Living Waiver Program.
