Blueprint Announces Eight-Property SNF Portfolio Sale in Pennsylvania
Blueprint Healthcare Real Estate Advisors announced the sale of an eight-property skilled nursing portfolio in southeast Pennsylvania with 1,050 beds; some of these facilities offered high-acuity, specialty care.
The seller sought to divest non-core assets, which included a portion of high-barrier-to-entry locations in the Philadelphia area, according to a press release announcing the deal. The buyer was a regional owner-operator.
The portfolio drew eight initial offers from both regional operators and investors.
Contemporary Healthcare Capital Arranges $1.5M Mezzanine Loan for Connecticut SNF Deal
Contemporary Healthcare Capital facilitated a $1.5 million mezzanine loan as part of a $6.2 million total acquisition financing for a skilled nursing facility in Windham, Conn., REBusinessOnline reported. The facility, Douglas Manor, includes 90 licensed skilled nursing beds.
The property is being acquired out of receivership by the borrower, affiliates of Ryders Healthcare Management. The owner intends to use the financing to provide $1.6 million in capital improvements to the property.
CoastalStatesBank was senior lender on the transaction.
Four SNFs in New Jersey Sell in Package Deal
Blueprint also announced the sale of a four-SNF portfolio in New Jersey with 654 beds; the properties were located in densely populated, “highly impenetrable” submarkets, according to a press release. The facilities had been recently renovated, with improvements including accessible outpatient therapy space and accommodations for ventilation patients. The deal was one of the largest SNF portfolio transactions in the state, according to Blueprint.
The buyer was an owner-operator that wanted to expand its footprint in New Jersey.
Written by Maggie Flynn