Blueprint Healthcare Real Estate Advisors announced the sale of an assisted living community in Arizona. Built in 1987 as a hotel, the property was converted into an assisted living community in 2016. The community comprises 116 units and was operating at 70% occupancy, but it operated very profitably. The community also has a Medicaid behavioral health license.
The 2016 converted community was sold to an Intermountain West private equity firm for a purchase price of $45 million or $271,000 per unit. Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate advisors handled the transaction on behalf of the regional developer/owner/operator.
