Blueprint was engaged by a joint venture between two national investors in the divestment of its seniors housing community in Pickerington, Ohio, that was acquired as part of a larger transaction. The buyer, which intends to reposition the asset as affordable seniors housing, was a well-capitalized private owner/operator seeking to expand and increase operational leverage in the Midwest.
Built in 2009, the community comprises 86 assisted living and memory care units in a growing, but supply-constrained, suburb of Columbus. The community’s occupancy challenges post-COVID, in combination with its outlier geography and care mix, made it a non-core component of the broader transaction and led to the ownership group’s decision to divest the asset and recycle capital. Connor Doherty, Ryan Kelly and Alex Florea handled this transaction.
