Benefitting from its seniors housing and behavioral health platforms, Blueprint Healthcare Real Estate Advisors represented an institutional seniors housing client in its first adaptive re-use disposition. Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman and Giancarlo Riso handled the transaction, selling the seniors housing asset to a behavioral healthcare provider.
Developed in 1996, the assisted living/memory care community is located in Northern Indiana, near downtown Fort Wayne. It features large amenity spaces, private bathrooms and outdoor programming areas. Given the seniors housing competition and marginal financial performance, Blueprint strategically structured a tiered marketing campaign targeting both seniors housing investors/operators to purchase the operations and real estate as well as behavioral healthcare providers looking to complete an adaptive re-use and license it as a behavioral healthcare operation.
Blueprint identified well-capitalized prospects from both sectors and ultimately selected an established behavioral healthcare provider as the buyer. There were no price adjustments leading to close.
