An institutional owner divested a portfolio of three seniors housing communities in Florida and Ohio after closing them down in 2022 due to unsustainable operational losses. All were 1990s-vintage communities combining for 179 total units. The buildings also required a good amount of capex to reopen.
There were three separate buyers that emerged to buy the communities, including a seniors housing, a behavioral health and a multifamily investor. The future of these communities is also varied, from seniors housing to behavioral. Originally engaged in December 2022, the Blueprint Healthcare Real Estate Advisors team of Kyle Hallion, Andrew Sfreddo, Ryan Kelly and Gunnar Raney closed each transaction within less than 90 days of marketing launch.
