PORT ST. JOE, Fla. — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has arranged the $9.3 million sale of The Bridge at Bay St. Joe, a 120-bed skilled nursing facility in Port St. Joe, located on the Gulf Coast on the Florida Panhandle.
The sellers were a publicly traded REIT and a national operator seeking to exit both the ownership and operations at the property. The buyer was a Florida-based owner-operator.
The average occupancy over the year leading up to the sale was 80 percent. The new owner plans to leverage its regional network and efficiencies to improve on revenue and margin challenges at the property.
The sales price equates to $78,000 per licensed bed. Trent Gherardini, Ben Firestone and Christopher Hyldahl of Blueprint structured the transaction.