Blueprint Healthcare Real Estate Advisors recently handled the sale of three, fully stabilized Class-A active adult communities in Moore, Mustang, and Edmond, all in the Oklahoma City MSA. Owned and developed by Oklahoma City-based Walters Construction Company, the “Thunder Portfolio” was constructed in phases between 2010 and 2021 and contains 350 total units. This includes a newly constructed 35-unit component on the Moore campus which will provide the buyer an opportunity to realize a significant increase in EBITDAR.
The portfolio maintained stable occupancy and cash flows throughout the COVID pandemic, and operations even continued to strengthen during marketing and throughout the transaction. At the time of sale, all communities, except for the new component in Moore, were completely occupied. Private equity firm Green Courte Partners acquired the portfolio for an undisclosed price and will have its operating platform, True Connection Communities, manage the properties. Steve Thomes, Brooks Blackmon and Kory Buzin worked on the deal for Blueprint.
