Blueprint Sells South Florida AL Community
Blueprint Healthcare Real Estate Advisors sold a 54-unit assisted living community located in between Boca Raton and Fort Lauderdale, Florida. Brooks Blackmon and Lauren Nagle were engaged by a regional owner/operator to run a confidential marketing process of the property, which was positioned as an opportunity for an incoming investor with regional expertise to bolster their Florida footprint, implement a strong business plan, and capitalize on economies of scale. A local-owner operator emerged from two other offers to buy the community for an undisclosed price. Read More »
SLIB Handles Two REIT Divestments
A REIT divested a couple of assisted living/memory care communities in Iowa with the help of Ryan Saul, Vince Viverito, Jason Punzel and Nick Cacciabando of Senior Living Investment Brokerage. Built in the late-2000s, the communities combined for 96 units. They were located in Ottumwa and Fort Madison, both in southeastern Iowa. Their REIT owner wished to liquidate capital for other investments, so an Iowa-based owner/operator stepped in to buy the communities for an undisclosed amount. They plan to invest heavily in remodeling the community and improving overall performance. Punzel and Viverito were then joined by Brad Goodsell and Jake Anderson to work on behalf of another REIT to sell... Read More »
SLIB Announces Deals in Washington and West Virginia
Two teams at Senior Living Investment Brokerage announced deals this week, including one in Washington state and another in West Virginia. First, in Washington, Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson sold a 54-unit assisted living community in the town of Shelton (on the Olympic peninsula). Built in 2000, it was previously owned by an investment group that was looking to divest its out-of-state assets. Occupancy was decent at 80%, but that could be improved. In the end, a Pacific Northwest owner/operator paid $4.9 million, or $90,700 per unit, for the community and plans to spend more on capital improvements and to increase the number of licensed beds. Next,... Read More »
Ohio AL Community Sells to Owner/Operator
An Ohio assisted living community that was formerly an elementary school sold to an in-state owner/operator thanks to Connor Doherty and Ryan Kelly of Blueprint Healthcare Real Estate Advisors. The duo represented the community’s original developer, which had taken over operational control of the community in 2018 after the previous operator declined their lease renewal. What an eventful several years of operating they signed up for. Built in 1920, the school was redeveloped into a 52-unit seniors housing community in 2007 and still features a gymnasium, plus the only sit-down restaurant in the town of Antwerp. Outsiders were allowed to dine there, except during the pandemic, of course.... Read More »
Blueprint Closes South Carolina Deal without Delay
WindRiver Companies acquired a value-add assisted living/memory care community in South Carolina, with Kyle Hallion of Blueprint Healthcare Real Estate Advisors handling the deal on behalf of the undisclosed seller. The campus is the seventh owned asset for WindRiver, which operates another 12 properties in the Southeast, Texas and Oklahoma. Originally built in the late 1990s, the community features 77 units across two buildings. The smaller building that houses the memory care will have a portion of it converted to a corporate training center and regional office for WindRiver. That should help the company as it looks to grow its regional operating platform in the state. Occupancy was... Read More »Schedule a demo
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