GLENCOE, Ala. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Meadowood Retirement Village, an 85-unit assisted living and memory care community in Glencoe, approximately 70 miles northeast of Birmingham.
An owner looking to divest its only seniors housing asset sold the property to a publicly traded REIT, which plans to lease the property to a prominent local operator. Although the price was not disclosed, the capitalization rate is 7.8 percent, according to Blueprint.
Meadowood Retirement Village was built in 1984 and underwent a memory care expansion in 2012.
Blueprint’s Brooks Blackmon was the advisor on the transaction.