MINNEAPOLIS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two skilled nursing facilities totaling 234 beds in Minnesota.
A Minnesota-based regional owner-operator sold the properties to a national owner looking to expand its tenant relationships in the state. The price was not disclosed.
One facility is located within the Minneapolis metro area, while the second is located approximately 2.5 hours north of the Twin Cities. Both facilities were of older vintage, having originally been built in the early to mid 1960s, though both had recently undergone renovations by current ownership.
The seller had successfully maintained strong census at both facilities despite ongoing market headwinds as evidenced by the average occupancy and quality-mix exceeding 90 percent and 40 percent, according to Blueprint.