Kyle Hallion, Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors were brought on by a repeat institutional owner/operator client to sell Florence Place, a 61-unit assisted living/memory care community in Florence, South Carolina, that was built in 1999. The seller decided to divest at the start of 2023, following the implementation of in-house and street rate increases that resulted in double-digit revenue growth over the prior year.
Blueprint targeted both individual regional and portfolio-specific buyers. A Southeast-based owner/operator was selected to acquire the community, raising sufficient equity to close the transaction with all cash at the originally agreed-upon purchase price. No other details were disclosed.
