REIT Divests Alabama Assisted Living Community

Brooks Blackmon and Ben Firestone of Blueprint Healthcare Real Estate Advisors represented a publicly traded REIT in its disposition of a struggling seniors housing community in Alabama. Featuring both assisted living and memory care (specialty care assisted living facility) units, the property was operating just below breakeven at the time of the sale and was occupied in the mid-70s. It was built in the late-1990s.

An Alabama-based owner/operator saw an opportunity to turn the property around, and they bought it for an undisclosed price. The Blueprint team closed the deal just two months from the time they were engaged.

 

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