These communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning

Unfortunately, the cumulative impact of COVID followed by an unprecedented rise in interest rates created meaningful headwinds to the original thesis and drove a portfolio re-prioritization, rationalization, and de-levering effort

Opened in the early 1990s, this community offered 93 units of Assisted Living and Memory Care in the highly affluent Preston Hollow neighborhood of Dallas. While very well located in a very affluent submarket, the community stood to benefit from a meaningful refresh and repositioning to bring the community’s physical plant in-line with the affluence of the market. Ultimately the remaining capital and time needed to execute on this thesis, in addition to it being a geographical outlier versus the core portfolio, led to the strategic decision to divest

When it became clear early in the process that the incumbent operator, Juniper Communities, had an interest in the community, strong conviction around it’s potential, and the in-house capital to execute expediently, Blueprint and Ownership pivoted to direct sale

Ultimately the transaction closed on-time and at the agreed-upon price after a collaborative and efficient process