Blueprint advised a not-for-profit seller in the divestment of a southern Pennsylvania memory care community. Despite profitable operations, the Washington, D.C. metro area-based seller sought to exit ownership of the community given its non-core location relative to the balance of its portfolio. The sub-30-unit memory care community, located along the Mason-Dixon line between Pennsylvania and Maryland, was originally built in 1990 and sits on a 20-acre parcel.
A western Maryland-based group was identified as the buyer, which brought a knowledge of the resident base and proximity to the facility that made it a “natural” fit for its second location. Steve Thomes, Kory Buzin and Colin Segner handled the transaction. Blueprint managed the transaction to ensure completion in advance of the holiday season, resulting in a 49-day period from LOI to closing.
