NORTH HAVEN, Conn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Landing of North Haven, a 100-unit assisted living and memory care community in North Haven.
Located near Long Island Sound south of Hartford, the community opened in late 2019 on an 11-acre campus.
The seller is a national investor and developer. Inspired Healthcare Capital acquired the asset for an undisclosed price. Inspired plans to keep the existing operator.
While lease-up progress was solid through COVID, rates and margin were always strong, leading to meaningful cash flow when occupancy started to approach stabilization in 2022, according to Blueprint. Seeing the performance trend, the ownership group decided to pursue an opportunistic disposition ahead of schedule to lock in returns and return capital to investors early in the fund’s life.
The Blueprint team included Pete Aparico, Alex Florea, Steve Thomes and Kory Buzin.