HOUSTON, DALLAS and SAN ANTONIO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight skilled nursing facilities located throughout Texas.
Blueprint represented the seller, a national owner based in New York. The prices and names of the facilities were not disclosed. At the time of sale, the portfolio generated $55.5 million in total revenues with an overall occupancy rate of 65 percent, according to Blueprint.
Chicago-based Mozart Healthcare acquired seven of the facilities and negotiated leases with two Texas-based operators to run the portfolio. Summit LTC, which was looking to grow its footprint from five facilities in Texas, is leasing the Dallas and San Antonio area properties from Mozart. Paradigm, an operating company that is backed by some of the ownership interests in Mozart, is growing in the Houston area.
Trinity Healthcare, a regional operator that saw an opportunity to expand its presence in the Central Texas region outside of San Antonio, acquired the eighth facility.
Christopher Hyldahl and Gideon Orion of Blueprint handled the transaction.