Kory Buzin and Steve Thomes of Blueprint handled another successful sale on behalf of a lender and special servicer, this time involving a receivership estate in Mobile, Alabama. Knollwood Point, a 2001-vintage, 46-unit assisted living and memory care community, struggled in recent years as a result of challenged occupancy and volatile staffing.
The deal was positioned as an opportunity for an incoming regional owner/operator to acquire a well-maintained community, with the potential to stabilize the community’s operating cash flow through the implementation of expense control measures. Multiple competitive offers were procured, with the ultimate buyer being an owner/operator with an existing presence in the market.
