A Pacific Northwest-based ownership group decided to divest its only seniors housing community in the state of Utah, working with Giancarlo Riso, Amy Sitzman and Jacob Gehl of Blueprint Healthcare Real Estate Advisors to get the deal done. The well-maintained community was built in 1999 about 10 miles east of Park City. It features 32 assisted living and 10 memory care units, with historically consistent operations.
However, there are some immediate value-add opportunities for the new owner, which is based in Salt Lake City, has an existing portfolio in the state and should be able take advantage of some economies of scale. Blueprint helped arrange the sale and assumption of the in-place HUD loan, but no purchase price was disclosed.
