A private equity group based in Florida saw potential in a distressed independent living community in Montgomery, Alabama, acquiring the property for an undisclosed price. Occupancy was below 50%, but the property featured a number of amenities like large common areas, an outdoor patio and barbecue area, three courtyards, beauty/barber salon and a media room, among others.

The buyer, which specializes in affordable seniors housing, will certainly have its hands full turning around the distressed asset. Brooks Blackmon and Trent Gherardini of Blueprint Healthcare Real Estate Advisors handled the transaction, and Blueprint’s General Counsel, Josh Salzman, managed the legal process.