BURBANK, Ill. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Brentwood Sub-Acute Healthcare Center, a 163-bed skilled nursing facility in the Chicago suburb of Burbank, for $7.3 million.
The seller was a New York-based owner of more than 180 skilled nursing facilities nationwide. The buyer was a partnership between a national real estate investor and regional operator, both based in Chicago.
At the time of sale, cash flow at the property was negative with occupancy in a multiple-year decline. But strong historical operational performance suggested a savvy operator could make the facility profitable.
Christopher Hyldahl, Gideon Orion, and Michael Segal were lead advisors on the transaction. The purchase price equates to $44,500 per licensed bed.