The team at Blueprint Healthcare Real Estate Advisors, including Ben Firestone, Jacob Gehl and Trent Gherardini, worked on behalf of a national owner-operator to strategically divest one of its non-core assets. The property being sold is a 36-unit assisted living community in the coastal town of Brookings, Oregon (near the California border). Built 20 years ago, the all-private pay community was struggling a bit with census but could probably benefit from a little more attention, which should come from its new owner, an Oregon-based regional operator/developer familiar with the local market. The buyer also plans on converting the community to higher levels of care, including memory care services. That should help add some much needed value, as the community sold for $1.05 million, or $30,000 per unit.
Blueprint in Brookings
Brookings, Oregon is the home of the Chetco River, a premier salmon and steelhead fishing river. A day fishing is a day added to your life, so if you want your residents to last longer, take them fishing once in awhile.
I agree that river fishing can be a lot of fun, and will be doing some fly fishing next week in Colorado, but it might be a little tough for the residents. But getting them in the great outdoors can be wonderful!