The owner of two assisted living/memory care communities in central Virginia engaged Blueprint to sell the assets. The deal closed with a buyer seeking to scale a regional management platform paying an undisclosed price.
Located about 75 miles apart, one in a densely populated, affluent market and the other in a tertiary submarket, the communities totaled 128 units. They were not stabilized assets. A targeted marketing campaign resulted in multiple offers before the seller chose the eventual buyer due to their incentive to expand into the geographies, their “vigorous” pursuit of the deal, and a demonstrated commitment from their local banking and equity investment partners. Kory Buzin, Steve Thomes, Amy Sitzman and Giancarlo Riso of Blueprint handled the deal.
