Brooks Blackmon, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors represented a national owner/operator in its sale of a 160-unit assisted living/memory care community located near Atlanta, Georgia. The large, well-maintained community is set in an affluent suburb and recently underwent a multi-million-dollar renovation. It catered to a more middle-income resident, but occupancy had been lagging for some time before the sale.
Blueprint leveraged the asset as an opportunity to buy a community in a major metro area for significantly below replacement cost and yielded seven qualified offers in the bidding process. Ultimately, a buyer with a track record of acquiring and operating distressed communities across the country was chosen. This marks their first acquisition in the state of Georgia.