Brooks Blackmon, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors recently facilitated the sale of a 72-unit assisted living community in Columbia, South Carolina. Built in the late-1990s, the all-private pay community recently underwent a $1.25 million renovation. It features all private units and mid-market rates.
The marketing process focused on regional owners and operators, and Blueprint ultimately advised the seller to move forward with a buyer that all parties had previously transacted with. Given the level of familiarity between the buyer and seller, as well as the all-cash offer, the transaction closed within 90 days of going under LOI. The buyer will likely increase the monthly rates to help improve the operating margin.
