The regional portfolio comprised of three private pay communities built between 1998 and 2000 in prime locations around the Atlanta area. While a relatively recent change in management companies boosted occupancy across the board, there was still considerable capex needs to better position the communities among the area’s new supply.
Through Blueprint’s knowledge of the regional market and active buyer pool, a private equity real estate buyer was quickly and discretely identified. The buyer, Artemis Real Estate Partners, proved to be the best combination of transaction proceeds and execution certainty. Artemis contracted with Allegro Senior Living to manage the communities, which represents their first foray into the state and the launch of their new Alto brand.
Ben Firestone and Michael Segal were the lead advisors on the transaction.