Blueprint Healthcare Real Estate Advisors announced the sale of a stand-alone memory care community in Oklahoma City, Oklahoma, on behalf of a national private equity seller. Built in 2010, Town Village Retirement Community comprises 38 units and had always had strong historical occupancy but was negatively impacted by the pandemic. However, it has since been in the early stages of a performance rebound.
The community was positioned as a value-add opportunity for buyers to capitalize on the scarcity of stand-alone memory care competitors to build a more high-end offering through a targeted capital improvement plan and the conversion of semi-private units. After receiving multiple competitive offers, the ultimate buyer was a regional owner/operator with a focus on stand-alone memory care. Alex Florea, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors handled the transaction.
