Blueprint facilitated the sale of a non-core seniors housing community on behalf of a national, REIT-affiliated owner/operator. The seller was focused on portfolio optimization through the divestiture of underperforming assets. Kyle Hallion, Steve Thomes and Kory Buzin handled the transaction.
Built in 1997, this 85-unit/108-bed assisted living and memory care community is in a high barrier-to-entry submarket of the Greensboro, North Carolina MSA, close to multiple hospitals and medical office clusters. Ownership recently invested approximately $1 million in capital improvements, primarily in back-of-house systems. The incoming buyer has the opportunity to add value through interior renovations and repositioning. Historically, the property has experienced struggling performance.
The marketing process emphasized the asset’s physical plant quality, demographic trends, and path to stabilization, attracting interest from regionally focused buyers. There were multiple competitive offers, with the ultimate buyer being a North Carolina-based private owner/operator known for executing turnaround investments and driving operational improvement.
