Blueprint Negotiates $52M Sale of Four-Property Portfolio in Texas

DALLAS, AUSTIN, SAN ANTONIO and HOUSTON, Texas — Blueprint Healthcare Real Estate Advisors has brokered the sale of four seniors housing communities in the Texas markets of Dallas, Austin, San Antonio and Houston.

The price was $52 million, or $153,000 per bed. The buyer and seller were not disclosed.

The portfolio totals 315 skilled nursing beds and 24 assisted living beds. All facilities were constructed between 2017 and 2018, average a five-Star CMS rating and feature resort-style amenities with therapy and rehabilitation gyms.

The portfolio was not stabilized, and while performance was trending upward, it still suffered from the impact of COVID-19 on census and staffing, according to Blueprint.

The buyer structured a new 10-year lease for the properties with one of its existing operating partners.