Continuing its busy season, Blueprint Healthcare Real Estate Advisors announced another closing in the Midwest, following six other announced August transactions in the states of Ohio, Michigan and Kansas. In this latest closing, the team of Ben Firestone, Jacob Gehl and Michael Segal went back to Kansas to sell a couple of small assisted living/memory care communities in the southeastern part of the state.
Built in the 1990s, the properties combined for 49 units and are the county’s only licensed providers of AL services. They were deemed to be non-core by the public REIT and private equity firm joint venture owners, following the JV’s portfolio acquisition of a number of AL/MC properties in the state that left the two communities geographically isolated. However, an in-state owner-operator with like-sized communities was eager to expand its presence in the region, and jumped at the opportunity to add the assets to its portfolio, for an undisclosed price.
