Built in 2011, the Gardens of Germantown successfully leased up by 2013 with all private pay residents and commanded some of the market's highest rental rates. Offering state-of-the-art amenities and an open concept floor plan, the Gardens of Germantown established itself as a premier memory care provider in the area.

In the time the community reached stabilized occupancy levels, several new competitors offering a variety of senior living care options entered the market, resulting in pressure on both rates and occupancy. Increasing care and labor costs compounded these challenges, and cash flows declined as a result.

As one of the last remaining assets in the fund, ownership engaged Blueprint to facilitate the sale process. Blueprint’s marketing campaign highlighted the strong historical performance and value creation opportunity for a regionally focused operator to reposition the community. By creating a competitive bidding process between multiple qualified investors and regional providers, the seller and Blueprint struck a deal with Vitality Living, a Tennessee-based senior living provider.

With superior local market knowledge and a growing footprint in the state, the Gardens of Germantown was a strategic acquisition that expanded the buyer’s operating platform to seven locations in the state.