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Constructed in the late 1990s in an attractive submarket of eastern Memphis, Tennessee, the purpose-built seniors housing community featured 77 assisted living and memory care units.
The community had a long and successful history of stable occupancy and margin, however, experienced notable performance declines stemming from the impacts of the pandemic.
Blueprint marketed the asset to a combination of national, regional, and local buyers to secure the best outcome possible for the seller.
The selected bidder is a Buffalo, New York-based owner-operator seeking to expand their Southeastern geographic footprint.
Blueprint proactively guided the parties through all aspects of the transaction, including closely working with both operating parties to resolve a pending licensure issue, ensuring a smooth and successful closing of the deal.
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