The difficult debt markets didn’t stop MED Healthcare Partners from acquiring a portfolio of three assisted living/memory care communities in Georgia thanks to their use of an all-equity capital structure to finance the purchase.
Located in secondary markets around an hour outside of Atlanta, Georgia, the small, 1990s-vintage communities totaled 156 units and were not stabilized at the time of closing. However, operations were improving throughout the sale process and the middle-market portfolio was well-positioned to capitalize on the strong demand for more affordable senior care within their respective local markets.
Blueprint Healthcare Real Estate Advisors generated three compelling written offers and ultimately advised the seller to move forward with MED Healthcare Partners, which has been actively expanding within the Southeast. That buyer had a hard-money lender lined up for the deal, but the lender’s capital source backed out of the deal late in the process. However, the buyer managed to source equity from family and friends to pay in all cash and close the deal on time. Amy Sitzman, Kyle Hallion and Giancarlo Riso of Blueprint handled the transaction.
