DONE DEAL:
Memphis Belle
Sale of 155-unit seniors housing community in Memphis

Blueprint negotiates past COVID-19 with 30-day diligence period and all-cash close on behalf of a publicly traded REIT

  • Opened in 1990, the community consists of 125 independent living and 30 assisted living units and was operating slightly below break even
  • Blueprint’s marketing campaign positioned the community as a heavy value-add or conversion opportunity
  • The highly targeted process focused on approaching investors capable of an all-cash deal
  • Elevation Financial Group, who plans to convert the asset to a 55+ community, was selected as the ultimate buyer
  • The transaction was placed under contract after the start of the COVID-19 pandemic and closed with minimal delay
LEAD ADVISORS
Brooks Blackmon
Director
312.300.4829
brooks@BlueprintHCRE.com
Ben Firestone
Executive Managing Director & Co-Founder
312.300.4000
bfirestone@blueprintHCRE.com