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 late 1990s, this community offered 80 units of Assisted Living and Memory Care in Appleton, Wisconsin. While a fairly strong performer pre-COVID, and trending back up in early 2023, the community was ultimately deemed "non-core" as ownership looked to re-focus on ground-up development and select re-development opportunities in its core coastal footprints

When it became clear early in the process that the incumbent operator, Health Dimensions Group (“HDG”), had an interest in the community and strong conviction around it’s potential, Blueprint and Ownership worked with HDG to quickly formulate a compelling preemptive offer

Ownership, HDG, and Blueprint worked closely together to expeditiously work through the streamlined diligence process and close the transaction at the agreed upon pricing and with no disruption to the community’s rapidly stabilizing operations