Blueprint Pulls Off Multi-Stage Sale, Private Direct Lender Floats $6M
Blueprint Announces Wisconsin SNF Sale
Blueprint Healthcare Real Estate Advisors announced the sale of the skilled nursing facility Nu-Roc Community Healthcare in Forest County, Wis. The community was stabilized at the time of the sale, with occupancy of more than 95% and a rating of five stars from the Centers for Medicare & Medicaid Services (CMS).
Blueprint held a formal marketing process for the third-generation owner-operators, a strategy that focused on finding a purchaser whose philosophy aligned with that of the selling family.
The buyer was a New York-based firm that recently expanded into Wisconsin.
Philadelphia-Area SNF Changes Operators, Then Owners
Blueprint also completed a multi-stage transaction involving a change of operators and then owners at the 181-licensed bed Chestnut Hill Lodge Health and Rehabilitation Center in the Philadelphia suburb of Wyndmoor, Pa.
Blueprint targeted an established provider in the area that was able to take over operations from the old management team a few days after accepting the offer.
The Chicago-based firm then arranged the sale of the real estate to a third-party investor that executed a lease agreement with the new operator.
iBorrow Provides $6M Loan to Pasadena SNF
iBorrow provided a $6 million loan to the 96-bed Golden Cross Health Care, a SNF in the Pasadena, Calif. submarket of Los Angeles to refinance existing debt. There are plans to approach the Department of Housing and Urban Development (HUD) for a permanent loan, REBusinessOnline reported.
iBorrow is a Los Angeles-based private direct lender for commercial and multifamily real estate.
Written by Maggie Flynn