Blueprint was engaged by a national developer/investor in the sale of a seniors housing asset in Dallas, Texas. Built in the early-1990s, this assisted living/memory care community comprises 93 units. The incumbent operator, Juniper Communities, had an interest in the community and was selected as the ultimate buyer.
This community was purchased by the seller pre-COVID as part of a sizable, value-add portfolio transaction with over 12 scattered, older-vintage communities, with the potential for operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning.
COVID, combined with the rise in interest rates, created a few headwinds to the original value-add thesis and drove a portfolio re-prioritization, rationalization and de-levering effort, resulting in the divestment of this community. Alex Florea, Giancarlo Riso and Amy Sitzman of Blueprint handled the transaction.
