Purpose built in the late 1990s, the assets are well located in an established, affluent suburban neighborhood. The offering presented an upside opportunity for an incoming investor to reposition the Type-A assets to Type-B, capturing more market share in one of the fastest growing regions in the country.
Blueprint was engaged to run a competitive marketing process that resulted in multiple qualified bids. Ultimately, the seller selected Elmington Senior Living, a regional owner-operator with assets located in Tennessee and Kentucky. The purchase enables Elmington to establish a new footprint in the Texas market. With plans to upgrade both communities to Type-B assisted living, the new buyer will be able to serve higher acuity residents.
The transaction team was led by Amy Sitzman and Joshua Salzman.