Ownership acquired the 1988-built community in 2018 with a plan to execute a CapEx investment and repositioning strategy. Ownership subsequently invested significant capital to renovate and modernize the community, materially elevating its FF&E, common areas, and resident units to a quality on par with newer vintage product

However, a subsequent influx of new competitive supply caused a persistent drag on occupancy and rate growth. The challenges were then exacerbated by the pandemic and its lasting inflationary impact on operating expenses

Blueprint recognized that the best and highest case for the asset among several strategic alternatives would be to target the buyer and operator pool focused on serving the local middle-income Senior population, oftentimes referred to as the “forgotten middle”

Blueprint framed the opportunity to the marketplace as one with tremendous upside upon repositioning the community to better serve the submarket. After conducting a tailored marketing campaign aimed at investors able to unlock value in the middle market, Blueprint produced multiple competitive bids from a diverse set of prospects

Blueprint then worked hand-in-glove with both seller and buyer to facilitate a smooth diligence period, transition, and close