Blueprint Healthcare Real Estate Advisors announced the sale of an assisted living community in the state of Texas. Built in 1990, The Inn at Los Patios comprises 166 units of both assisted living and independent living. At the time of the transaction, the community was 80% occupied and generating approximately $1 million in cash flow.
After a competitive marketing process which resulted in eight total offers, the ultimate buyer was a New York-based private equity group and their Texas-based operating partner. The Inn at Los Patios sold for $21 million, or $126,500 per unit, in an all-cash deal. Dallas-based 12 Oaks Senior Living will manage the community.
According to Levin Pro LTC, this is Blueprint’s 11th announced transaction since the start of 2023. Lauren Nagle, Ben Firestone and Brooks Blackmon of Blueprint Healthcare Real Estate Advisors handled the deal.
