NILES and SALEM, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of Grace Woods Senior Living, a two-property portfolio in Northeast Ohio, for an undisclosed price.
The sale represents Grace Woods’ exit from seniors housing. Although the two specific properties were not disclosed, the only two communities listed on the company’s website are located in Niles and Salem, both located approximately midway between Cleveland and Pittsburgh.
An Ohio-based owner-operator looking to grow its presence in the region purchased the 111-unit portfolio. The purchase price represents an 8.6 percent capitalization rate.
Connor Doherty of Blueprint was the lead advisor on the transaction.