Wingate at Melrose is located in a premier location just off Main Street, between I-93 and Route 1, approximately 11 miles north of downtown Boston.
Prior to the sale, and with the approval of the real estate owner, the operator elected to consolidate regional operations and shut down the facility. On behalf of the real estate owner, Blueprint effectively marketed the vacant facility as the operator effectuated a seamless relocation process of all residents in strict accordance with Massachusetts Department of Public Health protocols. Blueprint attractively positioned the offering and structured a transaction with an entity that found significant value in an alternative use of the property.
The purchaser was a regional hospital system seeking to expand. The purchase price was $3.6 million.
Steve Thomes was the lead advisor on the transaction.