Ohio

OHIO — Blueprint Healthcare Real Estate Advisors has arranged the sale of 17 skilled nursing facilities in Ohio for $145 million. The seller was joint venture between an Ohio-based operator and an investment partner, which acquired the portfolio in 2018. The seller was an East Coast-based owner-operator. The portfolio historically has been stabilized with over $100 million in yearly revenue, but saw performance decline due to COVID-19. While further details on the properties were not disclosed, the per-bed price of $73,000 equates to nearly 2,000 beds across the portfolio.

OHIO —­ Evans Senior Investments (ESI) has arranged the sale of a 180-bed skilled nursing community in Ohio for $10.8 million, or $60,000 price per bed. Built in 1965 with a $220,000 renovation in 2019, the community has nine private units with the rest being semi-private occupancy. In fiscal 2019, the community posted $10.3 million in total revenue and 72 percent occupancy. Despite the large revenue generation, the community did not reach industry standard net operating income margins of 12 to 15 percent due to the below-average Medicaid rate and …

CHICAGO — Evans Senior Investments (ESI), a Chicago-based broker, has arranged the sale of eight skilled nursing facilities in Ohio. An Ohio-based owner-operator sold the assets to a regional owner-operator looking to grow in the state. The price was $70 million, or $90,000 per functional bed/unit. The portfolio totals 623 licensed skilled nursing beds (614 functional beds), 22 independent living units and 176 licensed assisted living beds (140 functional beds). “While under contract the portfolio received a large Medicaid rate increase of almost $30 per patient day,” says Henry Fuller, …