Blueprint Healthcare Real Estate Advisors recently closed on a portfolio of two Class-A senior living properties in Alabama and Tennessee. The communities were built in 2018 and consist of 152 units of independent living, assisted living, and memory care.
With lease-up regaining momentum following the pandemic, the target offered incremental investor upside via a turnkey memory conversion at one community and an opportunity to expand on excess land at the other community.
Ownership engaged Blueprint in the fall of 2021 and the properties spent only a brief time on-market. The winning bidder was an Alabama-based owner/operator looking to expand their operating footprint in the Southeast. No other details were disclosed.
