AURORA, Colo. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Sable Care and Rehabilitation Center, a 120-bed skilled nursing facility in the Denver suburb of Aurora, for $5.4 million.
A publicly traded REIT based in California sold the property to a New York-based investor. The seller was looking to divest a non-core asset as a value-add opportunity. The new owner will lease to facility to a prominent regional operator with an existing footprint in Colorado.
The facility is located near the University of Colorado Hospital and CU Anschutz Medical Campus.
At the time the property was put on the market, the trailing 12-month operational performance yielded $6 million in total revenue with overall occupancy at 56 percent. The outgoing operator took over the building at a time of operational challenges, but was able to change course towards regulatory compliance and improved operational performance.
Blueprint’s Christopher Hyldahl and Gideon Orion were lead advisors on the transaction. The sale price equates to $45,000 per licensed bed.