Blueprint facilitated the sale of a seniors housing community in Tennessee. Amy Sitzman, Kyle Hallion and Giancarlo Riso handled the transaction, marketing the asset to a combination of national, regional and local buyers.
Purpose-built in the late-1990s, the community is in an attractive submarket of eastern Memphis and features 77 assisted living and memory care units. It has a long history of stable occupancy and margin, however, it experienced notable performance declines stemming from the impact of the pandemic, like many other communities.
The selected bidder is a Buffalo, New York-based owner/operator seeking to expand its Southeastern geographic footprint. Blueprint worked with both operating parties to resolve a pending licensure issue, and the deal successfully crossed the finish line on July 18.
