Atria Richardson is a premier private pay senior living community situated near the University of Texas-Dallas campus. Originally constructed in 1999, the 62,000 square foot community features a variety of unit sizes and layouts across all care types. The community historically operated at stabilized levels; however, leadership turnover and new competition impacted overall occupancy and rental rates. As a result, cash flow declined and Blueprint was engaged by ownership to confidentially market the community.
Blueprint positioned Atria Richardson as a fundamentally strong community poised to rapidly rebound following a rebuild of the leadership team. Blueprint effectively marketed the community’s significant upside potential and procured several competitive offers from well-capitalized buyers eager to grow in one of the fastest growing metropolitan areas.
The seller and Blueprint selected a publicly traded REIT and its Florida-based property manager as the prevailing bidder and successor operator. The transaction process moved swiftly with simultaneous contract negotiation, diligence review, and operational transition.
Ben Firestone, Michael Segal, Joshua Salzman, and Alex Florea facilitated the transaction.