Omega Healthcare Investors divested a couple of small assisted living communities in the state of Michigan, hiring Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors to handle the sale. Built in the late 1980s and 1990s with renovations in the early 2000s, the communities are located in Marshall and Mt. Pleasant, operating under the Maplewood brand by Laurel Health Care. They were well maintained with occupancy surpassing 95% prior to the pandemic. Laurel decided to exit its only assisted living communities in order to focus on its skilled nursing business, prompting the exit.
Several in-state operators submitted competitive offers but an entrepreneur with a growing regional platform was selected as the buyer. Occupancy steadily declined and labor pressures mounted during the transaction process, but the sale closed at the start of October, and management transitioned smoothly.
