Blueprint Sells Two Vacant Assisted Living Communities in New Jersey
Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors handled the sale of two vacant assisted living communities in New Jersey, thereby completing the seller’s exit of its entire vacant seniors housing portfolio, of which Blueprint successfully advised on eight of the transactions in states including Arizona, Idaho and Texas. This deal featured two purpose-built, 39-unit assisted living communities located within 45 miles of each other. They also have similar floorplans and layouts. Blueprint positioned the properties as an opportunity for an incoming investor to acquire both communities below replacement cost, implement a capex/renovation... Read More »
Blueprint Arranges Utah Seniors Housing Exit
A Pacific Northwest-based ownership group decided to divest its only seniors housing community in the state of Utah, working with Giancarlo Riso, Amy Sitzman and Jacob Gehl of Blueprint Healthcare Real Estate Advisors to get the deal done. The well-maintained community was built in 1999 about 10 miles east of Park City. It features 32 assisted living and 10 memory care units, with historically consistent operations. However, there are some immediate value-add opportunities for the new owner, which is based in Salt Lake City, has an existing portfolio in the state and should be able take advantage of some economies of scale. Blueprint helped arrange the sale and assumption of the in-place... Read More »
Blueprint Sells Five Skilled Nursing Facilities
The team at Blueprint Healthcare Real Estate Advisors announced a couple of closings, including a skilled nursing portfolio deal in Texas and a SNF sale in Rhode Island. The Texas transaction featured four skilled nursing facilities and a combined 340 beds that were owned by a REIT. Two of the facilities were built in the late-1960s/early-1970s and two in 2000. They are spread out in suburban and rural areas with relatively low average market census. Three of them were also enrolled in QIPP. The REIT was winding down its relationship with the in-place, in-state provider, hence the sale. Two buyers emerged, a growing Texas operator and a large, national owner/operator, which acquired the... Read More »
Private Equity Investor Acquires Dallas Seniors Housing Community
Joshua Salzman, Michael Segal and Alex Florea of Blueprint Healthcare Real Estate Advisors represented a REIT in its divestment of a 170-unit seniors housing community in Dallas, Texas. Originally built in 1987, community received a thorough renovation in 2013 and additional capital improvements since 2016. Following a previous operator transition, the REIT owner converted the remaining assisted living units to independent living, resulting in the community being fully focused on independent living. Occupancy had initially dropped after the conversion, but the community was repositioned as an affordable independent living option, and census steadily improved as a... Read More »Schedule a demo
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