Moosic to My Ears
Blueprint is pleased to announce the successful sale of Oakwood Terrace, a 35-unit private pay memory care community located in Moosic, Pennsylvania, a bedroom community of Scranton.

Oakwood Terrace was built in 1996 and was extensively renovated in 2006. Having maintained consistent and stabilized occupancy levels above 95.0% for the past several years, the community was uniquely positioned as the area’s low-cost provider with an excellent reputation for providing quality care.

Blueprint worked on behalf of the seller, a not-for-profit organization seeking to divest of its only seniors housing asset in the region. Blueprint positioned the offering as a value-add opportunity identifying distinct upside in the potential to steadily increase rental and care rates to market levels and several cost-control measures achievable by an incoming for-profit operator. Blueprint’s extensive marketing efforts yielded multiple qualified offers from both owner-operators and healthcare real estate investors alike.

The buyer was a New York-based owner/operator, and this transaction represented the group’s first seniors housing acquisition in Pennsylvania. The purchase price was $8,500,000 which equates to $242,857 per unit and represents a capitalization rate of approximately 8.0%.

Michael Segal was the lead advisor on the transaction.

Michael Segal
Senior Managing Director