Brooks Blackmon and Ben Firestone of Blueprint Healthcare Real Estate Advisors sprung into action this year in Springfield, Missouri, where the pair sold a 119-unit senior living community on behalf of a Missouri-based ownership group. Originally built in 2008, the property was expanded in 2012 to keep up with local demand. It now features 54 independent living, 48 assisted living and 16 memory care units. The expansion was also clearly a good idea, as occupancy stood at 99% and operating margins have been consistently high.
In addition to acquiring that steady stream of cash flow, a buyer would also keep the successful in-place operator, Arrow Senior Living. A Florida-based private equity company jumped at the opportunity, paying an undisclosed sum and assuming the existing agency loan on the property.
