Blueprint represented a court-appointed receiver in the sale of a three-asset seniors housing portfolio in the Grand Junction, Colorado MSA. The portfolio included two assisted living communities and one standalone memory care community. At the time of sale, the communities were collectively 65% occupied and breaking even on a combined basis.
Built between the late 1990s and early 2000s, the two assisted living communities each comprise 50 units and require some capex, presenting an opportunity to add value. One was 75% occupied and the other 85%. The payor mixes were split roughly 60/40, reflecting the communities’ role in serving a real need for Medicaid-assisted living in the area. The third asset, a 20-unit, fully private-pay memory care community built in the mid-1990s, was 100% occupied and generating positive cash flow.
Blueprint targeted the most active seniors housing groups interested in the Mountain West, attracting interest from a range of buyer profiles and securing five formal written offers. A Denver-based owner/operator was ultimately selected as the buyer, seeking to expand its existing Colorado regional seniors housing presence into the Grand Junction MSA. Dillon Rudy and Jacob Gehl handled the transaction, which closed on time and at the negotiated upon purchase price, despite continued operational challenges endured during the closing period.
