TUCSON, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Santé of Tucson, a 103-bed short-term rehabilitation and transitional care facility in Tucson.
The property was built in 2017, but struggled with occupancy and was placed into SEC receivership under the supervision of Thomas Seaman and Associates. Blueprint was brought on to market the property as a turnaround opportunity with a HUD assumption.
A Chicago-based owner-operator that recently had success with another turnaround opportunity in Tucson bought the asset for an undisclosed price. The new owners rebranded the community as Sapphire Estates Rehab Centre.
HUD approval for the loan assumption took approximately two months to complete, despite the government shutdown for part of the year. The Blueprint transaction team consisted of Amy Sitzman, Jacob Gehl and Humair Sabir.