Blueprint Sells Entrance-Fee CCRC in West Texas
An entrance-fee CCRC in Odessa, Texas, with a major turnaround opportunity at its on-campus skilled nursing facility, just sold to a regional owner with the help of Amy Sitzman, Jacob Gehl, Giancarlo Riso and Humair Sabir of Blueprint Healthcare Real Estate Advisors. Originally built in 1987 with additions made in 1992 and 1997, the Type-C community features 55 independent living units, 23 high-acuity assisted living units and a 90-bed SNF, although just 71 beds were in operation. The independent living portion was almost always fully occupied (or close to it, even during the pandemic), but the SNF struggled with census in the last year, starting in the high-80s and eventually falling... Read More »
Blueprint Capital Markets Closes First Transaction
Blueprint Healthcare Real Estate Advisors’ Capital Markets Group, which is led by Alex Florea, has the first closing under its belt, as it was revealed the group secured acquisition financing for Chicago Pacific Founders’ purchase of an assisted living/memory care community in Tucson, Arizona. In addition, Blueprint’s Amy Sitzman, Jacob Gehl and Humair Sabir represented the developer and owner in the transaction. Opened in May 2018 and about 90% occupied by the time of the sale, the community features 87 assisted living and 20 memory care units. Willis Development, in partnership with Dekel Capital which provided $8.4 million of equity, developed the community, and Milestone Retirement... Read More »
Blueprint Sells Down East
Steve Thomes and Ben Firestone of Blueprint Healthcare Real Estate Advisors sold an assisted living/memory care community on the scenic Maine coast. Located just south of Portland, the property consists of a 57-unit assisted living and a 41-unit memory care building developed in 1996 and 1997, respectively. They were owned by a REIT and endured fluctuations in their occupancy throughout the pandemic. Eventually, a Massachusetts-based owner/operator with communities throughout New England emerged as the buyer, paying an undisclosed sum. Read More »
Blueprint Handles Another Ohio Transaction
Connor Doherty and Ryan Kelly of Blueprint Healthcare Real Estate Advisors have been on a roll lately, closing transaction after transaction in the state of Ohio. The latest one features a skilled nursing/assisted living facility located near the University of Akron campus. Originally built in 1917 and comprehensively renovated in the mid-2000s, the facility was previously owned by a regional owner/operator that decided to focus on other aspects of their portfolio. Straightforward transactions have been few and far between during the last year, and Messrs. Doherty and Kelly did encounter some acquirer hesitancy. However, negotiations continued, and the deal closed in early April. A... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
