Oregon Owner/Operator Sells Seven Sites
An Oregon owner/operator has exited the industry with the sale of their seven-property portfolio. Built between 1999 and 2014, each building has 15 units, and all are in secondary markets along the I-5 Interstate. The purchase price was $15.875 million, or roughly $178,000 per unit. While historically operating near stabilized levels generating gross revenue of $6 million, performance declined in late 2021. Although, occupancy at closing was approximately 85%, which a number of operators across the country would probably love to achieve right now. The buyer is a regional operator with a focus on serving memory care residents which intends to invest in operational systems to drive... Read More »
Alabama Buyer Adds to Southeast Portfolio
Blueprint Healthcare Real Estate Advisors recently closed on a portfolio of two Class-A senior living properties in Alabama and Tennessee. The communities were built in 2018 and consist of 152 units of independent living, assisted living, and memory care. With lease-up regaining momentum following the pandemic, the target offered incremental investor upside via a turnkey memory conversion at one community and an opportunity to expand on excess land at the other community. Ownership engaged Blueprint in the fall of 2021 and the properties spent only a brief time on-market. The winning bidder was an Alabama-based owner/operator looking to expand their operating footprint in the Southeast. No... Read More »
Blueprint Advises Sale of Two Class-A Communities
Blueprint Healthcare Real Estate Advisors recently closed on a portfolio of two Class-A seniors housing communities in Georgia and Florida, owned and developed by Atlanta-based Aspire Development Partners and managed by The Arbor Company. Located in Canton, Georgia, The Arbor at BridgeMill consists of 206 units and opened in 2018. The Lakeside at Amelia Island in Fernandina, Florida has 187 units and opened in two phases between 2018 and early 2019. The buyer and sales price were not disclosed. Aspire originally engaged Blueprint in the fall of 2020 to evaluate strategic options and, after a brief marketing process, decided to delay the offering as M&A markets improved. As many of us... Read More »
Two Stabilized MC Communities Find New Owner
An owner/operator successfully recapitalized two newly constructed, Class-A standalone memory care communities located in the Oklahoma City and Dallas Fort-Worth MSAs. The 2016- and 2018-built communities total 76 units (36 and 40 respectively) and were developed and managed by an experienced operator, who will stay on to manage operations. It is worth noting that both assets demonstrated consistent upward trending operational performance despite the COVID-19 pandemic. Occupancies exceed 95% and generated $5.9 million in total revenue, and $1.9 Million in EBITDAR representing an impressive 32.5% operating margin. No wonder the current operator is staying on. Blueprint Healthcare Real... Read More »Schedule a demo
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