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Blueprint sold of a portfolio of five skilled nursing facilities located in the Inland Empire of Southern California.
Based on trailing operating performance at the time of closing, the portfolio was 90.8% occupied and was generating $50 million and $5.4 million in total revenue and adjusted EBITDAR, respectively.
The portfolio was taken to market with a base price of $46.5 million subject to a structured overbid auction process, but was ultimately driven up to $55 million ($70,967 per bed) which represents a 9.7% capitalization rate for such like type properties.
Christopher Hyldahl and Mike Segal were lead advisors on the transaction.